Underwriter Job Vacancy in Nairobi, Kenya

Position Title: Underwriter

LOCATION: NAIROBI

JOB SUMMARY

Our dynamic and fast-growing company is currently on the lookout for an experienced underwriter to join our team. As an Underwriter, you will play a crucial role in evaluating and analyzing insurance applications, determining the risk of granting coverage, and collaborating with insurance agents and brokers to set the terms and conditions of insurance policies aligned with our company’s criteria and standards.

Duties & Responsibilities

1. Analyze and Evaluate Insurance Applications

As an underwriter, your primary responsibility will be to assess and evaluate insurance applications to determine the risks associated with granting coverage. Utilize your expertise to make informed underwriting decisions.

2. Determine Policy Terms and Conditions

Collaborate with insurance agents and brokers to establish the terms and conditions of insurance policies that meet our company’s norms and requirements.

3. Efficient Policy Issuance

Work closely with agents and brokers to ensure timely and efficient issuance of insurance policies.

4. Data Analysis and Risk Detection

Examine and analyze data and reports to detect potential risks, enabling you to make sound underwriting judgments.

5. Exceptional Customer Service

Respond to inquiries and concerns from agents, brokers, and policyholders, providing exceptional customer service.

6. Maintain Accurate Records

Ensure accurate underwriting records and documentation are maintained. Stay updated with industry changes, laws, and best practices.

Knowledge and Skills

As an underwriter, you should possess:

• Thorough awareness of the insurance industry’s underwriting standards, principles, and best practices.
• Knowledge of risk assessment, pricing, policy terms and conditions, and regulatory requirements.
• The ability to assess data and reports to detect potential risks and make informed underwriting choices.
• Critical thinking abilities to evaluate risks and determine suitable price and coverage levels.
• Excellent communication and interpersonal skills.
• Strong time management and organizational skills.
• Attention to detail.
• Understanding of industry trends and developments.

Educational Qualifications and Experience

• Bachelor’s degree in business, finance, or a related discipline.
• 5-6 years of experience as an insurance underwriter.
• Strong analytical and critical thinking capabilities.
• Excellent interpersonal and communication abilities.
• Proficiency in Microsoft Office applications and related software.
• Ability to work independently and in a team context.
• Understanding of underwriting concepts, rules, and practices.
• Knowledge of insurance policies and coverage alternatives.

We offer a competitive compensation and benefits package, along with opportunities for professional development and advancement. If you meet the qualifications and are interested in this exciting opportunity, please submit your resume and cover letter for consideration.

Interested candidates are invited to strictly email their cover letter and CV to careers@orchidhr.co.ke before the end of the day on 30th January 2024. Only short-listed candidates will be contacted. Please ensure all communication is in English.

Expert Tips To Be A Successful Applicant for Underwriter

1. Showcase Industry Knowledge: Demonstrate your in-depth understanding of underwriting standards, principles, and industry trends in your cover letter and resume.
2. Highlight Analytical Skills: Emphasize your analytical and critical thinking capabilities, providing examples of how you’ve used these skills to make informed underwriting decisions.
3. Effective Communication: Stress your excellent communication and interpersonal skills, essential for collaborating with agents, brokers, and addressing policyholder inquiries.
4. Attention to Detail: Showcase your attention to detail, a crucial skill in maintaining accurate underwriting records and documentation.
5. Time Management: Describe your time management and organizational skills, emphasizing your ability to handle multiple tasks efficiently.
6. Independence and Teamwork: Illustrate your proficiency in working both independently and collaboratively in a team environment.
7. Adaptability to Industry Changes: Highlight your ability to stay abreast of industry changes, laws, and best practices, showcasing your commitment to continuous learning.
8. Customer Service Excellence: Share instances where you’ve provided exceptional customer service to agents, brokers, or policyholders.
9. Tech Proficiency: Demonstrate your proficiency in Microsoft Office applications and related software.
10. Underwriting Concepts Mastery: Showcase your understanding of underwriting concepts, rules, and practices, emphasizing how this knowledge contributes to effective underwriting.

SAMPLE COVER LETTER Underwriter

Dear Hiring Manager,

I am writing to express my interest in the Underwriter position at [Your Company Name]. With a Bachelor’s degree in business and over six years of experience in insurance underwriting, I bring a strong analytical mindset and a proven track record of making sound underwriting judgments.

In my previous role at [Previous Company], I successfully collaborated with agents and brokers to efficiently issue policies while maintaining accurate underwriting records. My attention to detail and critical thinking abilities have allowed me to detect potential risks and determine suitable price and coverage levels.

Your commitment to attracting and retaining diverse talent aligns with my values, and I am excited about the opportunity to contribute to the continued success of [Your Company Name]. I am confident that my skills and experience make me a valuable asset to your team.

Thank you for considering my application. I look forward to the possibility of discussing how my skills and background align with the goals of [Your Company Name].

Sincerely,

[Your Full Name]

Frequently Asked Questions (FAQs)

Q1: What are the key responsibilities of an Underwriter? Answer: An underwriter is responsible for analyzing and evaluating insurance applications, determining policy terms and conditions, collaborating with agents and brokers for policy issuance, conducting data analysis to detect potential risks, providing exceptional customer service, and maintaining accurate underwriting records.

Q2: What educational qualifications are required for the Underwriter position? Answer: The ideal candidate should have a bachelor’s degree in business, finance, or a related discipline.

Q3: How can applicants showcase their analytical skills? Answer: Applicants can showcase their analytical skills by providing examples in their resume and cover letter where they made informed underwriting decisions based on data and reports.

Q4: What is the deadline for submitting applications? Answer: Interested candidates should email their cover letter and CV to careers@orchidhr.co.ke before the end of the day on 30th January 2024.

Q5: Is experience as an insurance underwriter necessary? Answer: Yes, the ideal candidate should have 5-6 years of experience as an insurance underwriter.

Q6: What software proficiency is required for the Underwriter position? Answer: Proficiency in Microsoft Office applications and related software is necessary for the Underwriter role.

Q7: How can applicants demonstrate their commitment to staying updated with industry changes? Answer: Applicants can showcase their commitment by mentioning instances where they have proactively learned about industry changes, laws, and best practices in their previous roles.

Q8: What is the language requirement for communication? Answer: All communication should be in English.

Q9: How will short-listed candidates be notified? Answer: Only short-listed candidates will be contacted.

Q10: Does the company charge any application/recruitment fee? Answer: No, [Your Company Name] is an equal employer and does not charge any application/recruitment fee.

Possible Underwriter Interview Questions With Answers

Q: How do you prioritize and handle multiple underwriting tasks simultaneously? Answer: In my previous role at [Previous Company], I effectively prioritized tasks by setting clear goals and deadlines. I also utilized time management tools to ensure efficient completion of underwriting tasks.

Q: Can you provide an example of a challenging underwriting decision you had to make and how you approached it? Answer: In a complex case at [Previous Company], I carefully analyzed extensive data, consulted with senior underwriters, and ultimately made a decision that mitigated risks while ensuring fair coverage.

Q: How do you stay informed about industry trends and changes in underwriting practices? Answer: I regularly attended industry conferences, subscribed to relevant publications, and participated in continuous education programs to stay updated on industry trends and changes.

Q: How do you handle customer inquiries and concerns related to underwriting decisions? Answer: I approach customer inquiries with patience and empathy, providing clear explanations for underwriting decisions. I believe in fostering positive relationships with agents, brokers, and policyholders.

Q: How do you adapt to changes in regulatory requirements impacting underwriting policies? Answer: I stay proactive by monitoring regulatory updates, attending training sessions, and collaborating with the legal team to ensure our underwriting policies align with current regulatory requirements.

Q: Can you share an example of a successful collaboration with insurance agents and brokers in policy issuance? Answer: At [Previous Company], I established a streamlined communication process with agents, ensuring policies were issued efficiently. This led to improved collaboration and faster policy issuance.

Q: How do you handle situations where there is limited data available for underwriting assessment? Answer: In such cases, I rely on my analytical skills to extract valuable insights from available data. I may also seek additional information from relevant sources to make informed underwriting decisions.

Q: What role does attention to detail play in underwriting, and can you provide an example of how it has impacted your work? Answer: Attention to detail is critical in underwriting to ensure accuracy in policy terms and conditions. For instance, my meticulous review of a policy document once revealed an inconsistency that could have led to a coverage dispute.

Q: How do you contribute to a collaborative team environment while working independently as an underwriter? Answer: I believe in open communication and collaboration. While working independently, I ensure regular updates with team members, seek input when needed, and contribute to a positive team culture.

Q: What inspired you to pursue a career in underwriting, and how has your passion evolved over time? Answer: My initial interest in risk assessment and analytical thinking led me to pursue a career in underwriting. Over the years, I’ve deepened my passion by continuously seeking challenges and staying engaged with evolving industry practices.

We wish all applicants the best in their endeavors. Our website is committed to attracting and retaining the best employees from all races and backgrounds in our continued effort to become a better development partner. We are an equal employer and do not charge any application/recruitment fee.