Description
PRINCIPAL RESPONSIBILITIES:
1. Ensure clients’ assets are insured in terms of loan agreements.
2. Ensure that FDB’s interests are noted on the policies.
3. Ensure that timely and accurate policy details are inserted/amended in the Bank Management System and that any Endorsements are collected for noting and custody.
4. Place and arrange insurance coverage upon receipt of client(s) proposal and relevant documentations.
5. Ensure that policy(ies) and subsequent current certificates are in safe custody.
6. Ensure that premiums are paid and policies received, recorded and deposited in the vault.
7. Ensure that insurance policy(ies) is renewed in a timely manner.
8. Ensure that proper resubmit systems are in place and used consistently for follow ups with various Centres and Underwriters. Ongoing liaison with lead insurer under the Agency scheme is a must to ensure that policies are perfected and risk minimized.
9. Plan a programme for the perfection of policy(ies) to reduce the numbers in the overdues and incomplete listings.
10. Ensure that client/s summary of insurance is timely and updated accurately and that maintenance log is validated and rectified daily.
11. Any policy(ies) cancellations is to be formalized and insurer/s immediately advised and to ensure that refunds due are collected in a timely manner.
12. Ensure that claim/s are noted and progressively monitored with the insurer/s to reduce losses.
13. Ensure that timely letters, debit memos and policies are sent to clients, and renewal schedules sent to centres.
14. Ensure that proper authorizations are received prior to any policy(ies) changes.
15. All relevant insurance documentations are to be noted, actioned and filed in the clients’ respective files.
16. To promote and encourage clients to place covers through the Bank’s insurance agency, and advise the benefits.
17. To ensure that all Mortgage Protection Insurance Covers are placed and exposures adequately insured.
18. Establish and strengthen cordial business relationship internally with other Centres/Branches and externally with other insurers/brokers.
19. Ensure that numbers of customer complaints are minimized.
20. To maintain courteous, professional and prompt customer service at all times.
21. Assist all staff in the department, ensuring that client(s) policy(ies) and Bank’s interests are protected at all times and risks minimized.
Qualification
A Diploma in Business Studies or its equivalent from a recognized tertiary institution.
Experience
1 year
