Jobs at American International Insurance Company (AIICO)

American International Insurance Company (AIICO) is a Life Assurance Company which commenced operations in Nigeria in 1963.

A career at AIICO is an opportunity to be part of a company with a strong legacy, a dynamic structure, a futuristic outlook and a company that continuously impacts the society in many positive ways.

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AIICO is currently recruiting. Apply now to fill the jobs at American International Insurance Company (AIICO).

Underwriting Executive

Job Specifications:

  • Full Time
  • Required Qualifications: BA/BSC/HND
  • Location: Lagos | Nigeria.
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Job Description:

  • We are looking for a detail-oriented underwriter who is able to take initiative and work well with others as a team.
  • The job requires efficiency and effectiveness in order to meet agreed turnaround times.
  • Among other things, the role will be required to interface with brokers and marketers regularly as part of the effort to ensure that excellent services are delivered by the team at all times.

Role Complexity

  • The role would require an individual with that is smart, intelligent and willing at all times to collaborate with the team to achieve results.
  • The role is also expected to liaise with the team lead regularly on what needs to be done and to ensure that expectations of brokers and clients are met promptly.
  • Carry out pre-renewal review of risks and communicating the renewal terms to the client through the agent. In the same vein, the role is expected to flag any risk that has been value-eroding for the business.

Functions and Responsibilities

  • Preparation of quotations after reviewing a new proposal from client.
  • Develop and maintain strong relationship and credibility with the sales team and brokers.
  • Ensure that all underwriting records and files of clients are updated at all times.
  • Ensure debit/credit notes in respect of a concluded transactions are issued to the client/broker as at when due.
  • Ensure that any policies with loss ratio above 70% are escalated to higher authorities for decisions 2 months before renewal.
  • Ensure compliance with the KYC requirements of the company in respect of both new and renewal businesses.
  • Ensure that all fire, motor and engineering risks in line with the organization’s policy are sent to the risk management and survey team for inspection and follow up done until survey is done, and risk improvement recommendations are communicated to the insured/broker as the case may be.
  • Ensure receipts are obtained in respect of all transactions for which premium has been remitted by the broker/client within 48 hours.
  • Acknowledge all mails and diarize for follow up within 2 hours.
  • Deliver endorsements in respect of all policy alterations and renewals within 24 hours.
  • Deliver policy document within 48 hours.
  • Any other functions as deemed necessary by the team lead for the unit.
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Core Competencies

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  • Good communication skills
  • Time management skills.
  • Ability to work together as a team.
  • Ability to work with little or no supervision.
  • A self-starter and self-motivator.
  • Ability to adapt to new environment.

Functional Competencies

  • Skilled in the use of Microsoft words, power point and excel.
  • Good underwriting skills.

Qualifications and Requirements:

  • At least 2-3 years working experience as an underwriter.
  • BSc/HND in any field.
  • A master’s degree would be an added advantage.
  • Associate member, Chartered Insurance Institute of Nigeria or the professional Qualification-in-view.

CLICK HERE TO APPLY

Deadline: Not Specified

Team Lead – Alternate Channels Underwriting

Job Specifications:

  • Full Time
  • Required Qualifications: BA/BSC/HND
  • Location: Lagos | Nigeria.

Job Description:

  • We are looking for a detail-oriented underwriting manager who is able to take initiative, co-ordinate the activities of the team and provide direction for the team.
  • The job requires efficiency and effectiveness in order to meet agreed turnaround times.
  • The individual must be able to motivate the team to achieve optimization of resources.
  • Among other things, the role will be required to interface with agents, and partners with a view to providing the necessary supports for them to meet the expectations of their numerous clients/prospect.
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Role Complexity

  • The role would require an individual with analytical skills who would be able to assess a risk and determine whether it should be insurable and at what terms and conditions.
  • The role is expected to provide leadership for the Alternate Channels Team and chart a course for resources optimization and underwriting excellence.
  • The role is also expected to liaise with agents as occasions demand and assist them in facilitating fruitful engagements with their clients/prospects on relevant insurance covers.
  • Carry out pre-renewal review of risks and communicating the renewal terms to the client through the agent. In the same vein, the role is expected to flag any risk that has been value eroding for the business.
  • The role requires an honest leader who is able to earn the trust of the team and demonstrate empathy and commitment to the team and the numerous agents who will require his/her professional inputs in their day-to-date engagements with their numerous clientele.
  • Ensure proper engagement with our foreign partners in respect of the various referral risks before and during onboarding of new risks and renewal of existing risks as the situation demands.

Functions and Responsibities

  • Preparation of quotations after reviewing a new proposal from client.
  • Developing and maintaining strong relationship and credibility with the sales force/agents in order to enhance their ability to service their customers well.
  • Ensure that all underwriting records and files of clients are updated every time.
  • Ensure that all policies with loss ratio above 50% are escalated to higher authorities for decisions 2 months before renewal.
  • Ensure that all the risks onboarded/renewed are done in compliance with the company’s KYC Regulation.
  • Ensure that all fire, motor and engineering risks in line with the organization’s policy are sent to the risk management and survey team for inspection and follow done until survey is done, and risk improvements recommendations communicated to the insured.
  • Ensure debit notes are issued and receipts obtained in respect of all new and renewal transactions within 48 hours.
  • Acknowledge all mails and diarize for follow up within 2 hours
  • Deliver endorsements in respect of all policy alterations and renewals within 24 hours.
  • Deliver policy document within 48 hours.
  • Ensure proper engagement with our foreign partners in respect of the various referral risks before and during onboarding of new risks and renewal of existing risks as the situation demands.
  • Ensure that for every risk on boarded, risk profiling is done and checked by the Sanction Desk and copy put in the underwriting file.
  • Provide leadership for the team and ensure optimal use of all resources.
  • Handle complaints from agents and walk in clients to facilitate their immediate resolution.
  • Liaise with other units and departments whose deliverables can impact on the team’s ability to deliver excellence service in order to bring about smooth working relationship with such teams.
  • Any other functions as deemed necessary by the head of underwriting

Core Competencies

  • Interpersonal and good communication skills.
  • Time management skills.
  • Ability to solve problem.
  • Ability to work with little or no supervision.
  • A self-starter and self-motivator who can inspire others to excellence.
  • Ability to adapt to new environment.
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Functional Competencies

  • Skilled in the use of Microsoft words, power point and excel.
  • Good underwriting skills.
  • Good analytical skills.

Qualifications and Requirements:

  • At least 6 years working experience as an underwriter.
  • BSc/HND in any field.
  • A master’s degree would be an added advantage.
  • Associate Member, Chartered Insurance Institute of Nigeria.

CLICK HERE TO APPLY

Deadline: Not Specified

Annuity Officer

Job Specifications:

  • Full Time
  • Required Qualifications: BA/BSC/HND
  • Location: Lagos | Nigeria.

Job Description:

  • The Annuity Officer is responsible for managing and administering annuity accounts within the organization.
  • This role involves working closely with annuitants, agents, brokers, and internal teams to ensure accurate and timely processing of annuity-related transactions.
  • The Annuity Officer plays a pivotal role in maintaining data integrity, handling customer inquiries, and ensuring compliance with regulatory requirements.

Key Responsibilities

  • Oversee the administration of annuity accounts, including generating quotes, processing transactions, updating account information, and ensuring accuracy of financial records.
  • Monitor account activity and promptly address any discrepancies or issues.
  • Ensure prompt payment of all annuitants’ monthly benefits.
  • Responsible for preparing agents commission payment schedule.
  • Serve as a primary point of contact for annuitants, addressing inquiries, providing information on annuity products, and offering assistance in account-related matters.
  • Build and maintain positive relationships with annuitants through effective communication and customer service.
  • Implement and uphold data management protocols to ensure the integrity and confidentiality of annuity-related information.
  • Stay informed about regulatory requirements and ensure compliance with relevant policies and procedures.
  • Work collaboratively with finance, and other internal departments to coordinate activities related to annuity accounts.
  • Provide necessary documentation and support for audits and regulatory examinations.
  • Prepare and maintain accurate documentation related to annuity transactions, account changes, and customer interactions.
  • Generate reports as needed for management, regulatory authorities, and other stakeholders.
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Qualifications and Requirements:

  • Strong understanding of PENCOM regulated annuity products.
  • Proficient in the use of Microsoft applications and spreadsheet, Particularly Word, Excel, PowerPoint, and Project and InfoPath
  • Numerical accuracy and pay attention to details.
  • Excellent inter-personal skills with ability to work unsupervised and as part of a team.
  • Possess exceptional problem-solving skills i.e., analyse problems, find solutions and implementing them.
  • Able to learn quickly and understand new techniques and ideas.
  • Highly developed research and analytical skills with strategic thinking and planning

Qualifications

  • Minimum of 1 – 3 years’ Experience in insurance, annuity administration or similar roles.
  • B.sc / HND in Insurance, Finance, Management or any related social Sciences or discipline.
  • Professional Certification (ACIIN or ACII) would also be an added advantage.

CLICK HERE TO APPLY

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Deadline: Not Specified

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