The Assistant, Insurance Operations Support performs general administrative duties and provides support to the Underwriting team in relation to the day-to-day Credit Information and policy administration functions under the supervision and guidance of Head of Underwriting Support. The position holder will be responsible for ensuring the availability of quality information, at acceptable delivery time for enabling ICIEC to issue timely feedback to its customers, in addition to the maximum utilization of online sources contracted by ICIEC/IsDB/Aman Union or other freely available sources.
He/she provides assistance to the Associate, Insurance Operations Support with the Policy Administration responsibilities within his/her assigned area of operations area (Commercial/Sovereign Risks) under the supervision and guidance of the concerned Head of Underwriting Support.
Under this function, the role holder is responsible for assisting the Head of Underwriting Support and concerned Underwriters in all the back-office tasks related to the registration of new applications, NBIs, policies, invoices, NPLs and endorsements within the assigned function. The role involves ensuring a regular and standardized product documentation and electronic archiving of related documents in the policy electronic filing system.
1. Credit Information Function:
1.1 Credit Reporting Services:
Provides administrative support to the Head of Underwriting Support, Associate Underwriters, Underwriters and the Division Manager (Commercial/Sovereign Risks) in managing the day-to-day work of the Credit Information to ensure achieving the Division’s mandate with the highest possible performance standards.
Provides inputs on proposals for enhancement of Credit Information modules in the IT system from a credit information management perspective.
Assists the Associate, Insurance Operation Support in receiving applications/requests from ICIEC Customers/Underwriters/other Departments in ICIEC for soliciting information about a particular buyer/importer/financial institution/sectors.
Places any order for credit information report/credit opinion on a new or existing buyer/financial institution, the necessary check is performed first in ICIEC’s credit information database and if available it is up-to-date and is sufficient for assessing the buyer/financial institution under review.
Provides any information requested by the Underwriter or other stakeholders in a timely manner.
Maintains information/data received from one source provider and validates it with other sources of information and bring any abnormal differences noticed to the attention of the Head of Underwriting Support or the concerned Underwriter.
Inputs in the system all credit opinions received from Credit Information Suppliers, with their supporting reports and documents well in the relevant folders of the buyer/bank/project.
Ensures the turnaround time for providing information to the Underwriters/other stakeholder is minimum to facilitate quick decision making, especially for short term products, with special attention to follow-ups and reminders on orders not received on time.
Ensures that all risks underwritten by ICIEC on buyers/financial institutions etc. and having valid credit limits, exposure or registered NPLs are supported by an up-to-date information report and are to be updated on a periodic basis during their life cycle. Monitoring the activation and cancellation of those reports/opinions are vital in order to reduce credit information costs on ICIEC.
2. Policy Administration Function
2.1 Management of Policy Portfolio:
Provides support in managing all the administrative processes pertaining to policies related to the portfolio of policies under the Commercial Risks/Sovereign Risks lines of business such as registration of potential Exporters/Investors in the ICIEC database, scanning and fling of documents received from the Client in the IT system,
Assists the Associate, Insurance Operations Support in issuing policy amendments, endorsements, invoices, loss payee, credit limit approvals, etc in coordination with the Head of Underwriting Support, concerned Underwriter and Business Development Officer.
Ensures the scanning of related documents into the electronic database. This includes adherence to ICIEC’s approved guidelines for Compliance before any registration of the Credit Limit Applications is done.
Provides support to underwriters in managing the collection process and follows up on the outstanding receivables in coordination with Finance.
2.2 Management of Relationship with ICIEC’s Clients
Monitors incoming applications and controls backlog volume to ensure maintaining a good service standard.
Liaises with the country managers in the Department of Business Development for any information requested from the clients / underwriters.
Follows up on registration of NPLs in the IT system in coordination with Claims and Recovery to manage all aspects of outstanding claims and reflect the accurate NPL and claim amounts in the IT system
Handles enquiries on policy administration from clients, intermediaries and internal team members in a quality and professional manner to achieve service excellence.
Verifies declarations received from PHs and generates invoices
Reconciles the statement of account with the PH and Accounts &Financ
Ensures that all policy documents and correspondences with all stake holders are well maintained in all relevant folders
3. Other Responsibilities
The role holder will also perform any additional duties pertinent to the Department/Division/Function as assigned by his his/her immediate Supervisor or the Division and Department Management.
Reviews and provide inputs on proposals for enhancement of Policy Administration modules in the IT system from policy administration management perceptive.
Field of Study
Academic Qualifications and Relevant Experience
High School Diploma
Nature of Experience
Prior experience in information database management, or underwriting or risk management, preferably in the Export Credit Insurance/Banking Industry
BUSINESS LANGUAGE SKILLS:
Good command of written and spoken English essential, additional languages such as Arabic, French is preferable.
GENERIC KEY PERFORMANCE INDICATORS:
To keep a record on the time it takes to process and manage policy administration function and day to day tasks related to:
Calling for reports
Managing Credit Information sources
Collecting data and completing files with information to enable underwriting
No of existing polices maintained
Average cost per credit information report
Collection Effectiveness Index (Amount, Time, etc)
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