VACANCY
Guinea Insurance Plc. is a leading risk management solution provider, known to provide peace of mind through assurance to all stakeholders. We seek applications from suitable qualified individuals for the following roles;
Job Title: Reinsurance Lead Grade Level:
Manager Contract Type: Permanent
Location: Yaba, Lagos
Reports To: Head, Technical
Job Overview:
As a Reinsurance Lead, you are responsible for leading the Reinsurance Team. To design a prudent reinsurance arrangement for the Company to protect it against adverse risk exposure as well as analyze risks the Company undertakes to determine apportionment and placement of such with reinsurers to protect the Company from excessive risk exposure while managing relationships with other Insurance Companies with a view to increasing the Company’s share of facultative business.
Job Responsibilities;
➢ Co-ordinate and supervise activities of the unit to ensure conformity with the business objectives and regulatory guidelines
➢ Handles Treaty renewals and negotiation
➢ Handles claims reinsurance recoveries
➢ Advise on apportionment and placement of risk to treaty and local facultative reinsurers.
➢ Design a prudent and suitable reinsurance arrangement for the company to protect it against adverse risk exposure
➢ Review list of Insurance Companies to transact business with and make recommendation to the Executive Director Technical
➢ Take necessary and prompt corrective actions to ensure the achievement of the objective of the unit
➢ Ensure accurate and timely rendition of returns to treaty reinsurers and regulatory bodies.
➢ Analyse risk/profit/underwriting statistics to determine treaty capacity of the company.
➢ Analyse the insurance industry to identify potential opportunities for local facultative business
➢ Maintains accurate records of all transactions in the company’s operational software.
➢ Rendition of monthly/quarterly reports
➢ Establishes and monitor performance reporting systems
➢ Conduct formal appraisal of subordinate’s performance
➢ Analyse outstanding losses prepared by claims unit and use such in rendering treaty returns.
➢ Prepare annual budget of the unit for approval by Executive Director Technical.
➢ Train subordinate on the job to improve his skills
➢ Convenes and direct meetings with direct report to review operational performance.
➢ And any other tasks as may be assigned by Executive Director Technical. Requirements;
❖ B.Sc/HND in any discipline
❖ CIIN Certification is a compulsory.
❖ Minimum 10 years relevant work experience in insurance, out of which 5 years must have been spent in reinsurance businesses
❖ Excellent communication skills (Oral & Written)
❖ Good technical skills
❖ Good negotiating power
❖ Interpersonal skills
❖ Analytical skill
❖ Numeric skills
❖ Attention to details
Interested and qualified candidates should send their applications and Curriculum vitae to
recruitment@guineainsurance.com not later than 23rd February, 2023
Job Title: Claims Executive
Grade Level: Executive
Contract Type: Permanent
Location: Yaba, Lagos
Reports To: Team Lead, Claims
Job Overview
Undertakes excellent customer service relationship, analyze claims and underwriting policy
documents to determine the extent of the company’s liability.
Responsibilities;
– Register notification of claims into the software, open file and allocate claim number;
– Verify policy status;
– Acknowledge claim notification and request for claims substantiating document from
claimants/Brokers for review
– Schedule appointments with claimants/brokers to arrange for post loss inspection;
– Assist Field staff on investigation to ascertain validity of reported claims;
– Interpret policy wording, analyze and adjust claims to determine the extent of company’s
liability and make recommendations to the Team Lead;
– Communicate offer within 24hours after all relevant approvals
– Follow-up and collect all relevant title documents; recoveries and salvaged items from
negligent third party or insured to reduce claims outlay before payment is made.
– Prepare claim requisition/ vouchers to pay claimants, co-insurers, solicitors and other
professionals;
– Reviews/send copies of loss adjusters reports to co-insurers and collate opinions on their
recommendations where applicable.
– Prepare relevant Claims reports for Paid and Outstanding Claims on weekly; monthly and
quarterly basis.
– Processing of service agents fees for payment
– Compute outstanding losses for Reinsurance Unit;
– Preparation of weekly, monthly and quarterly reports/returns
– Computation of Loss ratios
Requirements;
❖ First degree in any discipline
❖ CIIN certification is an added advantage
❖ 3 years progressive work experience as an insurance claims executive
❖ Demonstrates excellence in:
o Verbal and written communications.
o Time management.
o Claims judgement.
o Business acumen.
o Organizational skills;
o Interpersonal skills; and
o Analytical skills.
o Underwriting skill
Interested and qualified candidates should send their applications and Curriculum vitae to
recruitment@guineainsurance.com not later than 23rd February, 2023.
