Claims and Underwriting Manager – Bancassurance at Absa Bank Limited

Job Description

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Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance.

Job Summary

This role requires a combination of technical expertise, leadership skills, and a deep understanding of insurance policies, risk assessment, and claims management processes.

Main Duties:

Oversee and manage both claims and underwriting functions. Review and improve claims and underwriting processes. Prepare and present reports on claims and underwriting activities to senior management. Provide expertise and support to clients and internal teams. Deliver efficient customer service.

Key Accountabilities/Deliverables/Outcomes and approximate time split.

Claims Responsibilities: Time split: 50%.

Oversee the entire claims process, ensuring accurate and timely notification, assessment, investigation, and settlement of claims. Review and analyze complex claims. Resolve complaints and contentious claims issues, ensuring fair and equitable resolution. Cultivate working relationships with relevant external stakeholders. Ensure SLAs with service providers are adhered to. Innovative

Underwriting responsibilities; Time split: 50%

Ensure that all ‘bank securities’ are insured. Compliance with bank policies and guidelines. Review underwriting decisions made by Underwriters, ensuring accuracy and compliance with established guidelines. Stay updated on market trends, regulatory changes, and emerging risks to adjust underwriting strategies accordingly. Relationship Management to facilitate the smooth flow of underwriting processes and resolve any operational issues that may arise. Evaluation of proposals to corporate client base both local and global to ensure correct risk covered and priced accurately Negotiation of terms for bank clientele with insurers, which includes embedded and other products. Regular reviews of relevant solutions and terms of insurance policies. And collaborate with products teams, business teams, and other stakeholders on positioning and dissemination of the same.

Requirements

Preferred Qualification 

Bachelor’s degree in BCom, Business Administration, or a related field. Professional certifications in ACII or AIIK are advantageous, or evidence of advanced progress toward certification

Preferred Experience 

Ten years of experience in insurance claims management and underwriting, preferably in a managerial role.

Knowledge and Skills 

Strong knowledge of insurance policies, underwriting principles, risk assessment, and claims handling procedures. Excellent analytical and problem-solving skills, with the ability to evaluate complex insurance claims and underwriting issues. Strong leadership and team management abilities, with experience in mentoring and developing staff. Excellent communication and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders. Sound understanding of regulatory requirements and industry trends in the insurance sector. Proficiency in data analysis and preparing reports. Agile

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)