Madison Equity Fund: NAV Price: 36.19 Purchase Price: 36.19 | Madison Money Market Fund: Daily Yield: 8.96% Effective Annual Yield: 9.37%

Premium Administration Manager

Madison Life Assurance Kenya Limited, a subsidiary of Madison Group and a leading provider of life assurance products throughout Kenya, is recruiting for the position of Premium Administration Manager.

Duties and Responsibilities

The Premium Administration Manager will be responsible for implementing sound Premium Administration strategies, maintaining working relationships with all Madison pay-points for continued business development, ensuring effective premium management for clean data and increased efficiency in Life operations.  The Manager will also be responsible for the following key functions:

  • Identify manual premium admin processes and reports and ensure automation for increased efficiency.
  • Provide automate accurate departmental reports through utilization of the BI tool and LMS.
  • Co-ordinate onboarding calls for new clients, provide monthly feedback reports and resolution of issues within the set timelines.
  • Develop mechanisms to resolve un-receipted bank credits, outstanding un-allocated premiums and suspense issues across all-check offs.
  • Uphold data integrity by ensuring accurate premium position, accurate policy statuses and proper capture of new business at the branch level as well as coordination of branch trainings on premium administration processes and procedures.
  • Provide market intelligence, peer performance and insights geared towards check-off markets growth.
  • Management of debtors by continuous follow-ups, constantly reviewing and instituting remedial action on unpaid premiums and erroneous remittance
  • Monitor persistency parameters and institute measures to increase business retention.
  • Ensure accurate communication to customers and timely feedback to branches in relation to launched businesses, recalls, the receipting and accurate allocation for timely new businesses conversion.
  • Ensure timely premium amendments/premium stoppage on policy exits within the set guidelines and proactively institute refunds.
  • Mentor and develop the Premium administration team in order to meet the departmental objectives for effective performance management.
  • Proactively manage departmental costs by operating within set budget

Qualifications, Experience and Competencies

Qualified candidates are required to possess the following qualifications, experience, and personal attributes:

  • Degree in business, economics, marketing or related course.
  • Master in Business Administration preferred
  • Professional qualification in Insurance (ACII, AIIK)
  • At least three years’ managerial experience in premium Administration
  • High-level communication skills
  • Development and implementation of business strategy
  • Self-driven and motivational business leader

Interested candidates should address their applications to the Group Human Resources Manager, Madison Group Limited, Email: hr_recruitment@madison.co.ke so as to be received by Friday 14th January 2022.