Underwriter – Specialty Business

Old Mutual Kenya is a financial services group offering a comprehensive range of financial solutions, including insurance, banking, and investment services, catering to diverse client needs across the region.

The Underwriter for Specialty Business will play a crucial role in fostering the sustainable expansion of the specialty portfolio. This involves retaining existing business, identifying cross-selling opportunities, and actively engaging with intermediaries. The role requires performing all back-office underwriting tasks in strict adherence to company policies and regulatory standards for specialty lines. A key responsibility is to evaluate and assess risks accurately to make informed underwriting and pricing decisions that align with the company's risk appetite and profitability objectives.

1. Underwrite specialized risks across various insurance classes, including financial lines, bonds, trade credit, and kidnap and ransom, ensuring alignment with company risk appetite and underwriting guidelines.
2. Structure competitive and customized insurance solutions that meet client needs while maintaining the company’s risk controls.
3. Ensure strict adherence to underwriting and compliance frameworks during onboarding, renewals, and throughout the policy lifecycle.
4. Ensure all risks are properly placed with the approved reinsurance panel as per the company's appetite.
5. Analyze the performance of the specialty insurance portfolio and implement strategies to improve profitability, risk management, and growth.
6. Monitor industry trends, regulatory developments, and emerging risks to support proactive and informed underwriting decisions and maintain product relevance.
7. Collaborate with intermediaries and reinsurers to develop and implement new insurance products aligned with market needs.
8. Coordinate with reinsurers and other cedants to obtain facultative reinsurance support for risks that exceed treaty retention limits or fall outside the scope of treaty coverage.
9. Work closely with reinsurers to assess and manage new or emerging risks.
10. Prepare quotations in line with company service standards and authority matrix, following through to conclusion.
11. Provide daily support and servicing to clients and intermediaries to strengthen business relationships and enhance client experience.
12. Initiate and follow up with the Insurance Regulatory Authority for approvals where necessary.
13. Source for business and train stakeholders to ensure production targets are met.
14. Collaborate with clients and stakeholders to ensure all bonds are cancelled in a timely manner.
15. Ensure timely issuance and capturing of all documentation relating to specialty classes, including premium obligations to all parties.
16. Prepare and submit periodic and monthly reports on specialty lines to management for tracking and strategic decision-making.

1. Hold a First Degree.
2. Possess AIIK or ACII or an equivalent qualification.
3. Relevant additional certifications in insurance or reinsurance management and operations are preferred.
4. Have at least 3 years of experience in underwriting specialized classes.
5. Demonstrate in-depth knowledge of specialty business operations, regulatory requirements, industry developments, and business networking.
6. Exhibit strategic thinking to assess long-term risk trends and align underwriting practices with the company’s strategic goals.
7. Possess the ability to evaluate emerging risks and adjust underwriting strategies accordingly to maintain profitability and competitiveness.
8. Have strong written and verbal communication and interpersonal skills for internal coordination and external client interaction.
9. Demonstrate strong analytical and problem-solving skills to quickly identify issues and develop effective solutions.
10. Possess excellent organization and time management skills to manage multiple underwriting submissions and projects within strict timelines.
11. Be able to prioritize tasks to ensure timely delivery while maintaining accuracy and compliance.
12. Show adaptability and resilience in a dynamic and fast-paced environment, quickly adjusting to changing market conditions, client needs, and internal priorities.
13. Maintain composure under pressure and demonstrate resilience when handling high-stakes or urgent cases.
14. Possess strong technical proficiency in underwriting principles and insurance products.
15. Demonstrate sound decision-making ability based on available information.