Insurance Underwriter

Job Title: Insurance Underwriter

Reporting to: Head of Operations

Duty Station: Mogadishu-Somalia

Position Summary First Somali Takaful and Retakaful Ltd

Summary:

First Somali Takaful and Retakaful Ltd is seeking an experienced Insurance Underwriter to join their team. As an Insurance Underwriter, you will play a vital role in assessing risks associated with insurance policies and making informed decisions based on underwriting guidelines. This position requires a strong background in insurance underwriting, excellent analytical skills, and a deep understanding of various insurance policies, including Takaful and Retakaful principles.

Responsibilities:

- Supervise day-to-day operations for an underwriting unit by establishing priorities, assigning work, providing training and development, and helping staff with more complex work.

- Issues policies and endorsements with conformance to carrier rules and broker specifications.

- Evaluate insurance applications and assess risks associated with different policies.

- Analyze data, review documents, and determine coverage levels and premiums.

- Ensure compliance with underwriting guidelines, policy terms, and regulatory requirements.

- Collaborate with agents, clients, and other stakeholders to gather necessary information.

- Communicate underwriting decisions and provide explanations to clients and colleagues.

- Conduct risk assessments, identify potential risks, and recommend risk mitigation strategies.

- Stay updated on industry trends, market conditions, and regulatory changes.

- Utilize underwriting software and tools to streamline processes and enhance efficiency.

- Work collaboratively with the underwriting team and contribute to a positive work environment.

Qualifications:

- Bachelor's degree in Insurance and Risk Management, Actuarial Science or a related field.

Experience and Skills:

- Minimum of 2 years of experience in an Insurance underwriting.

- In-depth knowledge of insurance policies, including Medical, property, casualty, Livestock, health, and reinsurance.

- Familiarity with Takaful and Retakaful principles is preferred.

- Strong analytical and critical thinking skills for risk assessment and decision-making.

- Excellent written and verbal communication skills for effective interaction with clients and stakeholders.

- Attention to detail and accuracy in reviewing and analyzing information.

- Proficiency in underwriting software, spreadsheets, and other relevant tools.

-Proven ability to work well with external direct or broke customers.

- Familiarity with local insurance laws and regulations specific to Somalia.

- Ability to work well in a team and contribute to a collaborative work environment.

First Somali Takaful and Retakaful is inviting applications from qualified and motivated candidates to submit their updated CV and Cover letter that outlines their qualifications in relation to the job description.

Application should be addressed to this email: [email protected] before 20 March 2024.