Facultative Underwriter

Job Advertisement: Facultative Underwriter

Position: Facultative Underwriter

Reporting To: Facultative Manager

Location: Lusaka, Zambia

Employment Type: Full-Time

Closing Date: 16 January 2025

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Position Overview To handle the facultative business portfolio in order to bring in business by keeping premiums at a reasonable level, while preventing the pay-out of excessive claims.

Key Responsibilities

• Analyses information provided by reinsurance applicants.
• Reviews reinsurance contracts and construct reinsurance arrangements in accordance with the Insurance company’s underwriting controls and procedures.
• Assists in determining the relevancy of risk factors and recommends whether or not to offer reinsurance to applicants.
• Prices treaties and quotes terms for the review and approval of the Treaty Underwriting Manager
• Calculates facultative premiums and appropriate amounts of coverage for reinsurance.
• Calculates treaty premiums and appropriate amounts of coverage.
• Provide risk quotes and terms of reinsurance, under the supervision of the Head of Underwriting.
• Ensures that information and records are update to date by conducting periodic audit of files (through the provided data management system)
• Reviews statistics of treaty applicants to compute loss ratios and other relevant ratios to determine risk quality.
• Proficient and effective utilization of the insurance software for transaction positing and invoicing
• Corresponds with brokers and cedants with the aim of developing effective relationships within the reinsurance market to promote the company.
• Provides operational support to both Facultative & Treaty Managers.
• Assist the claims department on processing treaty claims.
• Performs retrocession treaty claims notifications to securities and follow up claim recoveries under the supervision of the Treaty Manager

Qualifications, Skills And Experience

• Full Grade 12
• Minimum Diploma in Insurance, or Degree in Economics, Business Studies or related field.
• Minimum 2 years’ experience in the (Re)/insurance industry
• Ability to make sound decisions
• Good numerical and communication skills.
• Strong computer skills.

Application Instructions Interested candidates should email their applications and supporting documentation to [email protected] by the closing date of 16 January 2025.

Fin Re is an equal opportunity employer. We encourage applications from all qualified individuals.