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Preferred Candidate


Years of Experience:
12 - 15 yrs
Age Group:
34 - 46 yrs
Nationality:
Arab Nationals
Gender:
Male
IT Knowledge:
Applications-Office
Operating System-Windows
Language:
Arabic: Fluent
English: Fluent

Ref.No: 4247 Date of Posting: 15-Aug-2016
Life & Medical Insurance Manager Bookmark and Share
Confidential Company
Job Description
A leading Kuwaiti Insurance Company is looking for Life & Medical Insurance Manager as per the following details:

Objectives:
To direct and manage the group and individual life and medical insurance schemes, innovate insurance schemes consistent with the market study and development, prepare and regularly evaluate actuarial accounts, supervise and develop the performance of life insurance, coordinate with other departments for marketing and developing the insurance products pursuant to clients' needs, and participate in the amendment of reinsurance agreements.

Key accountabilities
- To propose and monitor implementation of the executive "operational" objectives and plans for developing and marketing the Life and Medical Insurance products in line with the approved strategic objectives and plans.
- To introduce new life and medical insurance schemes based on the market study for submission to Top Management for approval.
- To supervise the performance of Life and Medical Insurance of all types, benchmark the achievements with set objectives and standards, and seek to develop and improve such performance.
- To develop life and medical insurance products of all types including the saving, retirement, and medical insurance, identify clients' requirements through field visits, and determine and design prices and conditions in tabular format to facilitate marketing and enforceability.
- To supervise the issuance and development of the individual and group life and medical insurance documentation, prepare the terms and benefits of each, present the direct insurance proposals, or prepare client-tailored proposals.
- To participate in negotiating the life and medical reinsurance agreements and execute such agreements as per the authorized powers, and arrange for the facultative reinsurance agreements.
- To approve claims, compensations, settlements and all matters related to life insurance documentation within the authorized powers, supervise all matters related to compensations, payment of premiums, redemption, and coordinate all such matters with Reinsurance Dept. and Financial Dept.
- To prepare the actuarial accounts related to life insurance for submission to the actuarial expert and making periodic actuarial evaluation, and determine the Company's liabilities arising out of claims.
- To direct and approve surveys and estimate damages arising out of injury-based compensation claims based on the approved medical reports determining the degree of disability and death pursuant to applied rules.
- To monitor the technical loss rate in order to amend the terms and prices upon renewal.
- To direct the training and development of personnel in the Life & Medical Dept. and monitor their performance evaluation.
- To ensure enforcement of the Company's decisions and circulars and compliance with the approved policies, regulations, and procedures.
- To ensure the optimum use of the automated information technology available at workplace and use of internet in marketing the life and medical insurance services, communicating the same, and to get the work completed as such.
- To make the necessary market studies for identifying the development requirements in life insurance in order to develop the services and products provided to customers.
- To coordinate with Marketing Dept. for the development and marketing of life and medical insurance products of all types, follow up execution of the same and evaluate results, and participate in setting up the expansion plans.
- To attend the meetings of ad hoc committees inside and outside the Company's premises.
- To prepare and submit periodic reports on progress, developments, and obstacles to Top Management along with recommendations, and submit reports to external entities as required by law.
- To perform any other duties related to the job.
Degree Specifications
Graduate - BA in Business Administration
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