About the job Head of Technical
Our Client is a leading Insurance group based in Abu Dhabi, UAE. Seeking to recruit "Head of Technical", the position will be reporting to the COO.
Department / Unit Role and Objective:
Reporting to the COO, the role involves,
- Development and driving underwriting strategies in support of the company’s profitability objectives, implement & maintain underwriting standards in accordance with the company’s risk appetite and operational capabilities.
- Directing and managing the Technical Claims Department in an efficient and effective manner to deliver a high level of customer satisfaction and a profitable claims experience through the creation / implementation of claims handling procedures and risk management processes.
- Directing and managing the Reinsurance Department in an efficient and effective manner
- Manage the medical underwriting and claims department
Job main purpose:
To effectively and efficiently plan, organize, coordinate and control the technical department’s underwriting, claims & reinsurance requirements of the Company in addition to overseeing the functions of the Medical underwriting & claims department.
Roles and Responsibilities:
Reporting to the COO, core duties will include the following:
Underwriting function includes:
- Setting the underwriting direction of the Company in which the Company does commercial lines of business (Technical business),
- Contributes to the development, implementation, and monitoring of underwriting rules, guidelines, policies, procedures & rating for Technical lines of business coordinating with LOB Heads and other underwriting staff’s;
- Define underwriting strategy and recommend business plans that will generate continued profitable business growth in current and future markets,
- Meet with clients and brokers to build relationships and to develop new and renewal business,
- Review insurance contract wordings,
- Training of members of staff to enhance the underwriting skills within the underwriting team,
- Assist in conducting audits to ensure proper application of underwriting rules, guidelines, policies, and procedure,
- Oversee the development of the company’s underwriting systems.
Claims function includes:
Coordinate with the Technical Claims Head on the following activities -
- Collaborate with the technical Claims Head on resolution of coverage issues and adverse risk development,
- Review, evaluate and report on loss activity & monitor claims trends,
- To develop and manage the Claims Department’s action plan,
- Manage the Claims Departmental budgets to meet the company targets and to achieve the goals that are set for the yearly budgeted expenses,
- Management of the claims activity in a timely & professional manner and ensure adequate reserves are held,
- Ensure claims handling authority levels are in line with the business needs,
- Ensure adequate levels of suitably qualified & experienced staff are employed to deliver the required level of professional customer service,
- Identify and implement the training and development needs of the Claims Department staff,
- Assist in conducting claims audit
Reinsurance function includes:
Coordinate with Reinsurance Manager on the following activities –
- Analyze company’s risk portfolios & determine risks retention levels,
- Plan & regular review of company’s reinsurance program for treaty & facultative reinsurance negotiations with reinsurers and brokers,
- Verifies claims and submit to reinsurers to ensure reinsurers obligations are met,
- Negotiates and updates changes or amendments to treaty & fac agreements approved by company management.
- Verifies reinsurance accounts and liaises with Finance Department for remittance of reinsurance premiums in accordance with the contract requirements,
- Markets and accept inward reinsurance business & and securing appropriate reinsurance protection,
- Reviews working relationships with and competence of reinsurers and RI brokers advising management on the need to continue the relationships,
- Monitors and implements the department’s annual revenue and expenditure budgets to ensure that reinsurance requirements are adequately funded and controls expenditure within budget,
- Liaise with reinsurers and brokers to secure technical assistance in underwriting and claims handling management.
Medical Underwriting & Claims function includes:
- Overseeing the functions of the Medical underwriting & claims department.;
Qualifications and Education Requirements:
Bachelor’s Degree or equivalent,
Work experience of 10+ years of progressive insurance industry underwriting experience
Financial Authority (the authority to approve financial transactions):
As per the Company’s Authority Matrix.
Non-Financial Authority (the authority to approve non-financial business transactions):
As Head of Technical Department, he is authorized to accept business, arrange reinsurance and authorize claims in line with the Authority Matrix to ensure smooth operation based on the set guidelines and procedures.