Manager – Underwriting Jubilee Health Insurance Company

Role Purpose:
The Manager of Underwriting is responsible for leading and managing the underwriting function of the organization. This role involves developing and implementing underwriting strategies, ensuring compliance with regulatory requirements, and maintaining operational excellence. The Manager of Underwriting plays a crucial role in achieving the organization’s goals by providing strategic guidance, managing risks, and ensuring profitable underwriting practices.

Main Responsibilities:
Strategy:
• Develop and execute the underwriting strategy for health insurance products in alignment with the company’s overall business objectives.
• Analyze market trends, competitive landscape, and regulatory changes to identify opportunities and risks for health insurance underwriting.
• Collaborate with other departments, such as product development and marketing, to provide insights and contribute to the development of health insurance products and pricing strategies.

Operational:
• Oversee the day-to-day operations of the underwriting team, ensuring adherence to underwriting guidelines, policies, and procedures.
• Conduct risk assessments on new applications, evaluate medical histories, and apply underwriting principles to make informed decisions like determining eligibility of the scheme and scheme pricing.
• Ensure accurate and timely issuance of health insurance policies, endorsements, and renewals.
• Monitor and analyze underwriting metrics, such as loss ratios, claims experience, and premium volumes, to identify trends and implement necessary corrective actions.
• Collaborate with claims management to review and evaluate health insurance claims, provide guidance on claim settlements, and identify potential fraud cases.
• Maintain strong relationships with health insurance providers, brokers, and other external stakeholders to facilitate underwriting processes and negotiate favourable terms.
• Implement efficient underwriting workflows and utilize underwriting software and tools to enhance productivity and accuracy.
• Conduct periodic audits and quality assurance checks to ensure compliance with regulatory requirements and internal policies.

Corporate Governance (Regulatory and Compliance):
• Stay updated on health insurance regulations, compliance requirements, and industry best practices.
• Ensure compliance with regulatory guidelines, data privacy laws, and ethical standards in health insurance underwriting practices.
• Collaborate with the legal and compliance teams to develop and implement policies and procedures to mitigate risks and ensure adherence to regulatory requirements.

Leadership and Culture:
• Provide leadership, guidance, and coaching to the health insurance underwriting team. • Foster a culture of excellence, collaboration, and continuous improvement within the team.
• Set performance goals, conduct performance evaluations, and provide ongoing training and development opportunities for the team member

Any other duties assigned by the COO in line with the strategic plan.

Key Competencies:
• Strong business acumen and strategic thinking.
• Results-oriented mindset with a focus on achieving profitability and operational excellence.
• Strong decision-making and risk assessment abilities.
• Excellent organizational and time management skills.
• Ability to work effectively in a fast-paced, dynamic environment.
• Proficiency in using underwriting software and tools.
• Excellent communication and interpersonal skills, with the ability to interact effectively with internal teams, external stakeholders & senior Management.
• Excellent computer skills

Academic Qualifications
• Bachelor’s degree in business, finance, insurance, or a related field. A master’s degree is a plus.
• Professional certifications in insurance underwriting, such as Diploma in Insurance is preferred.
• Strong understanding of health insurance regulations, compliance requirements, and data privacy laws.
• In-depth knowledge of health insurance products, underwriting principles, and industry practices.

Relevant Experience:
• At least 7 years of experience in health insurance underwriting, with a track record of progressive responsibility.
• Extensive experience in health insurance underwriting, including knowledge of medical terminology, underwriting guidelines, and risk assessment techniques.
• Excellent analytical and problem-solving skills, with the ability to evaluate complex medical information and make sound underwriting decisions.
• Demonstrated leadership and team management abilities, with a focus on driving results and fostering a high-performance culture.