Madison Group Limited is a locally owned financial services holding company that specializes in Insurance and wealth management services. The Group comprises of Madison Life Assurance Kenya Limited, Madison General Insurance Kenya Limited, and Madison Investment Managers Limited. Madison Life Assurance Kenya was originally incorporated under Kenyan Laws in 1988 as Madison Insurance Company Limited (MICK) after a successful merger between Crusader Plc (1974) and Kenya Commercial Insurance Corporation.
Duties and Responsibilities
The function will provide strategic guidance on products design and profitability. In addition, the function shall ensure that the company is in compliance with the periodic reporting as required by the Insurance Regulatory Authority.
The role will provide support for both General and Medical Business by;
- Collect, validate all data required for quarterly valuations.
- Undertaking quarterly actuarial valuation of the technical liabilities.
- Analyzing Actuarial Statistics parameters for decision making.
- Conduct Product Designs, Development, and Pricing.
- Preparing claims management and Loss ratio reports.
- Review of product performance on a quarterly basis to determine product profitability.
- Review of premium rates in consultation with the Consulting Actuary
- Compiling market share data for General business and Healthcare using the Annual accounts of various companies
- Support the Finance department in the monthly reporting of premium and claims liabilities
- To provide any other required actuarial support to the Company.
- Enhance risk management by supporting the appointed actuary and auditors.
Qualifications and Work Experience
- BSC Degree in Actuarial Science
- Progress in Actuarial Professional Exams
- 2 years’ work experience in a General Insurance Company