NRB Islamic Life Insurance Ltd.
NRB Islamic Life Insurance Ltd.
NRB Islamic Life Insurance Ltd.
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Summary
- Vacancy: —
- Age: 30 to 50 years
- Location: Dhaka
- Salary: Negotiable
- Experience: 5 to 10 years
- Published: 25 Sep 2024
Requirements
Education
- Master of Business Administration (MBA), Masters
Experience
- 5 to 10 years
Additional Requirements
- Age 30 to 50 years
- The Applicants should have experiences on Life Insurance, Underwriting, Re-Insurance, Claims, Policy Service, Life Insurance Products and product rating.
- Must be able to develop long-term strategic underwriting, cycle management strategy & underwriting policy and provide underwriting “Leadership to the market”.
- Must be able to drive proposition management and development within the underwriting function.
- Sound knowledge about IDRA rules & Insurance Laws.
- Sound knowledge of Financial Management and risk assessment.
- Knowledge in Actuarial and Product management.
Responsibilities & Context
- Develop and enhance underwriting and risk management philosophies and controls in line with Company and market conditions.
- Responsible for ensuring integrity of Underwriting, Reinsurance, Policy Servicing & Claim activities and processes.
- Provide reporting and guidance to top management.
- Directly supervise staff by providing coaching and counseling and performance reviews.
- Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure.
- Developing and implementing Guidelines, Policies and Procedures for Underwriting, Reinsurance, Policy Servicing & Claims.
- Responsible for high-level administrative functions within the department which include performance evaluations of management staff, anticipation of staffing needs, design and implement training programs for strategic growth.
- Directly supervise branch coordinators by providing coaching and counseling and performance reviews.
- Allocates underwriting authority for staff, establishing their ability to accept risks, determine coverages.
- Provides assistance in underwriting of difficult, complex proposals and resolves issues beyond the authority level of underwriting staff.
- Ensure legal compliance, adherence to claims processes, and timely payments.
- Facilitate the settling of complex claims and process related paperwork.
- To make sure all requests for policy service are doing within turn-around time.
- To make sure that all alteration, surrender, Korje Hasnah, SB are managed according to company guidelines.
- To process policy service and record weekly/monthly reporting§ Prepare Quarterly treaty accounts.
- Establish, Maintain and strengthen relationship with current reinsurer.
- Manage the premium, policy and claims administration in the reinsurance processes.
- This role is responsible for leading underwriting team, arranging the placement of reinsurance and underwriting in different classes of non-life insurance business.
- To define underwriting strategy and recommend business plans that will generate continued profitable business growth in current and future markets.
- To Oversee and manage all underwriting functions.§ To Oversee design & implementation of rating tools & methodology.
- To review and analyze new insurance applications for risk exposure and compliance with underwriting guidelines.
- To meet and negotiate with clients and brokers.
- To build relationships and to develop new renewal business.
- To review contract wordings and act as signatory of insurance contracts and ensue alignment to U/W guidelines. As the accountable party, work with legal and compliance on policy wordings, marketing collaterals and other regulatory and compliance issues as and when required.
- To establish appropriate internal underwriting procedures and criteria to control risk.
- To delegate authority and provide underwriting direction to all Underwriters.
- Translate the strategic goals intro objectives, and plan for financial and human resources to achieve them.
- Ensure effective leadership & management of underwriting people; pursuing active talent management, driving capability development and creating a high-performance culture.
- Set framework for underwriting decisions e.g. Authority grants, referrals, technical reviews.
- Provide assurance that the business adheres to underwriting governance/ compliance principles and regulatory standards.
- Develop understanding of new concepts of insurance business.
- Analyze, evaluate and make underwriting decisions in line with underwriting guidelines and recommendations, coordinating with analysts and other underwriting staff.
- Establish appropriate internal underwriting procedures and criteria to control risk.
Skills & Expertise
Life Insurance
Re-Insurance
Underwriting (Insurance)
Compensation & Other Benefits
- Salary Review: Yearly
- Festival Bonus: 2
Weekly 2 Days Off, Group Insurance
Workplace
Work at office
Employment Status
Full Time
Job Location
Dhaka