Underwriting and Portfolio Monitoring Officer (Medical) at Fosad Consulting Limited

Fosad Consulting, LLC. is a professional services firm established to provide quality consulting services to desiring clients, whose primary objective is to focus their management and technical resources on their core competence.

We are recruiting to fill the position below:

Job Title: Underwriting and Portfolio Monitoring Officer (Medical)

Location: Victoria Island, Lagos
Employment Type: Full-time

Job Objective / Purpose of Job

• The purpose of the role is to sustain a market-leading position in the health insurance market segment within Nigeria through effective and efficient oversight of Underwriting, product and pricing processes.

Responsibilities 

• Underwriting, Product and Pricing
• Monitor the impact of provider tariff increase on our portfolios.
• Give recommendations to provide management team on provider recategorization (Where necessary)
• Engage HR and Client stakeholders (RM’s and other sales intermediaries-broker and agents) on the possible negative impact of tariff re-negotiation in the bid to delist provider or secure premium increase.
• Facilitate and ensure reduction of footfalls at non-compliant hospitals through active stakeholder engagements.
• Responsible for reviewing & executing contract agreements with Providers.
• Responsible for underwriting, risk and profitability assessment of Group products for both new and renewal businesses, including local and international products.
• Define, review, authorize and ensure implementation of approved pricing and renewal decisions for the Underwriting Period.
• Issue renewal prompts and advise to sales team three (3) months ahead of policy expiry date.
• Monitor performance of the portfolio and implement corrective actions with the support of the sales team. Continuously seek, propose, & monitor improvement opportunities in the operations, both internally in the company or externally with intermediaries when necessary
• Regularly report results/suggestions to Unit/Group Heads.
• Ensure regular review and maintenance of Standard Operating Procedures for all key processes and contracts.
• Support product innovation through competitive and fair pricing
• Assist with the design of complex and customized customer solutions for local and international businesses to ensure strategic wins, final client satisfaction, and profitable growth for the company.
• Support the definition of benefits which should be clear and devoid of ambiguity to ensure proper administration of policies and claims.
• Maintain competitive advantage and customer-centric view on product benefits, packages and the definition of all group, tailor-made and packaged products.
• Liaise with Risk, Actuarial & Legal in case considerations as applicable.

Qualifications

• BSc. from a reputable tertiary institution
• Minimum 2 - 4 years total work experience with at least 1 in related job role

Requirements:

• Technical knowledge of health underwriting or health operations
• Basic knowledge of medical terminology
• Ability to analyse and interpret data
• Intermediate competence with MS Office (Word, Excel, Outlook, etc.)
• Strong Leadership traits
• Strong Analytical skills
• Innovative
• Good interpersonal relationship and communication skills
• Time management.

Application Closing Date
18th June, 2024.