NICO Insurance Zambia Limited, a general insurance company, has been operating in Zambia since 1st October 1997, and has branches in Lusaka, Kitwe, Ndola, Livingstone and Chipata. NICO Insurance Zambia Limited is a member of NICO Group of Companies operating in Malawi, and Sanlam through Sanlam Allianz. The Company is now seeking to identify a qualified individual to be engaged as Head Underwriter.

The Head Underwriter plays a critical role in managing the company’s risk exposure and ensuring the underwriting department operates efficiently, profitably, and in compliance with regulations. This is a leadership role that requires both technical expertise in insurance underwriting and the ability to manage and guide a team. The Head Underwriter is pivotal in shaping the company’s underwriting policies, managing key client accounts, driving performance, and maintaining high standards of customer service.

Reporting to the Chief Operations Officer, the Head Underwriter shall be responsible for all commercial and corporate business functions of the company.

Main duties will include the following:

1. Underwriting Strategy and Philosophy Implementation:

• Ensure that the company’s underwriting approach aligns with its business goals, aiming to write profitable and collectable business that meets set financial targets.
• Develop and review the company’s underwriting policies, ensuring they remain in line with prevailing market conditions and industry standards.

2. Policy and Manual Development:

• Review, update, and propose changes to underwriting policy wordings and the company’s Underwriting Manual to ensure consistency and compliance with regulations.

3. Reporting and Monitoring:

• Prepare and present regular reports (weekly, monthly, and quarterly) on underwriting performance, identifying trends, opportunities, and areas of concern.
• Track key underwriting metrics, monitor policy performance, and provide actionable insights to the Chief Operations Officer (COO).

4. Premium Collection and Account Management:

• Ensure timely cancellation notices are sent to clients whose premiums are overdue, maintaining the company’s cash flow and reducing bad debts.
• Review and address poor-performing accounts, making recommendations for corrective actions to the COO.

5. Policy Documentation and Compliance:

• Ensure that cover notes, policies, endorsements, and other key documents are processed and signed promptly, ensuring all policies and endorsements are issued within 30 days of receiving closing instructions.
• Review placing slips to ensure they are consistent with agreed terms, signing them as a form of acceptance and returning a copy to brokers.

6. Quotations and Renewals:

• Provide accurate and competitive quotations to clients, ensuring these are issued within 24 hours of receipt.
• Oversee the renewal process, ensuring that renewal reviews are conducted eight weeks prior to the renewal date, and renewal invitations are sent out six weeks in advance.

7. Customer Service and Complaint Resolution:

• Address any underwriting-related customer complaints promptly, ensuring all issues are resolved within 24 hours of receipt to maintain customer satisfaction.

8. Marketing and Product Promotion:

• Actively market and promote the company’s products, engaging with brokers, agents, and potential clients to expand the company’s market share and visibility.

Requirements:

• Educational Background: A first degree in Insurance is required, with an Advanced Diploma in Insurance from the Chartered Institute of Insurance (or equivalent) preferred.
• Experience: At least 10 years of experience in the insurance industry, with a minimum of 3 years at a managerial level. Strong knowledge of insurance standards, underwriting practices, and procedures is essential.
• Professional Membership: Must be a paid-up member of the Insurance Association of Zambia.
• Skills: Strong analytical abilities, high attention to detail, independent judgment, and integrity are key. The role also requires excellent communication skills, both in writing and verbally.