NRB Islamic Life Insurance Ltd.

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

Source link

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