EASTMAN NYANGATE MAGEMBE
NAIROBI
Summary
Accomplished Actuarial Professional and Member of Institute and Faculty of Actuaries-UK (IFOA), currently serving as Senior Insurance Operations Officer at Lami Insurance Brokers. Extensive experience in Risk Analysis, Data Analysis, Customer Service, Business Development, and Insurance. Proven ability to develop sustainable Financial Management and Business Continuity plans focused on customer retention and growth. Trained and certified in Actuarial Science, Financial Services, and Statistical packages, with a strong foundation in Data and Risk analysis.
Overview
8
8
years of professional experience
1
1
Certification
Work History
UNDERWRITING EXECUTIVE
LAMI INSURANCE BROKERS
05.2022 - Current
- Managing relationships with broker partners and driving business through them, ensuring that broker sales officers are correctly underwritten.
- Ensuring timely renewal invitations, preparing performance reports and conducting member education for existing clients, in full compliance with the procedures and guidelines set out in the operations manuals.
- Business Growth and Product Approvals – Collaborating with underwriters and IRA for product approvals and development partners.
- Certificate issuance and renewal follow ups.
- Ensuring underwriting compliance and policy schedules, debits issuance.Timely follow ups on refunds and credit notes.
- Claims documentation and processing, sourcing for new rates – Conducting market research on new and repackaged products, ensuring smooth running of different policies.
- Ensure proper claim documentation and issue of certificates/Cards to clients.
- Marketing brochures, write-ups, and merchandise – Ensuring member Educations are done and appreciation in the distribution in a fair manner of company marketing resources.
- Quote generation and business retention - Assisting in maintaining accurate and up-to-date information on market trends, competition, and products in the market, idealisation and new partner engagement.
- Product Innovation- Assisting the company in researching and designing competitive market products, design, pricing of development products and uptake.
UNDERWRITER PRICING
MADISON GENERAL INSURANCE
01.2021 - 05.2022
- Underwriting, vetting, set-up, renewal, servicing and support, documentation and management of schemes on Hais, and handling of related queries from clients and intermediaries on existing schemes.
- Prepare competitive quotations and dispatch the same within the recommended TAT’s.
- Ensure pricing rates are competitive enough to provide favorable loss ratios.
- Constant review of scheme loss ratios and provide proactive suggestions to aid in claims control.
- Monthly running of the premium and marketing reports against targets set (GWP).
- Investigation: Recognize trend of issues and where other processes are going wrong and being proactive in recommending solutions.
- Familiarize with system to note it’s extremes and what needs to be adjusted to suit market trends.
- Provide the necessary support to intermediary by training them on the medical products.
- Support on premium and excess collection.
- Liaise with underwriters, actuarial and business development teams to evaluate the products being sold and equally when designing new ones.
- Support in renewal process by reviewing and advising on renewal terms based on loss ratios and profitability proactive in recommending solutions.
RELATIONSHIP OFFICER – CREDIT: MICRO INDIVIDUAL AND GROUP UNDERWRITTING
FAULU MICRO-FINANCE BANK
09.2019 - 11.2020
- Responsible for evaluating, authorize, recommend approval of business, individual, real estate and asset finance loans by:
- Advising borrowers on financial status and methods of payment.
- Approving loans within specified limits and refer loan applications outside those limits to management for approval.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Analyse applicants’ financial status, credit and property evaluations to determine feasibility of granting loans.
- Explain to customers the different types of loans and credit options that are available, as well as term of those services.
- Obtain and compile copies of loan applicants’ credit histories, corporate financial statements, and other financial information.
RELATIONSHIP OFFICER – OPERATIONS AND CUSTOMER SERVICE
SMEP MICRO-FINANCE BANK
06.2018 - 08.2019
- Responsible for all operational branch activities, cash handling, safe keeping and customer service.
- INTERNAL PROCESSES
- Receive, verify and post cash and/or cheque in the core banking system.
- Verify and pay out cash/cheque encashment.
- Bundle cash and ensure safe storage in lockable tills.
- Ensure sufficient controls in cash management both for the tills and vault.
- Daily reconcile and balance cash and Alternative Banking Channels balances and report any differences promptly.
- Adequate cash stock management with buying and selling from the vault as appropriate.
- Ensuring strong adherence to Anti Money Laundering (AML) and know your customer (KYC) policy guidelines.
- Compliance to processes, procedures and regulations ensuring that all processed performed are within the bank policies and procedures.
- FINANCIAL PROCESSES AND CUSTOMER RELATION.
- Promote and Cross Sell the Bank’s products and Services.
- Ensure uptake of Alternative Banking channels is enhanced.
- Monitoring daily transactions to ensure efficiency in processing.
- Review and ensure all revenue are collected as required and report any revenue leaks.
- Derive account utilization by engaging customers to advice on available channels.
- Offer good customer service to ensure referrals.
- Answer customer enquiry and refer customers to proper service area for issue that cannot be resolved at the teller line.
- Maintain highest level of confidentiality with all information obtained.
INSURANCE FINANCIAL ADVISOR
ICEA LIONs INSURANCE
06.2017 - 11.2017
- Life Assurance Department
- Offering actuarial and consulting services to corporate firms, employees in informal sector and private at the same time, administering life assurance policies to members and actuarial valuation of policies.
- Offering quality and strategic policies to clients with an aim of ensuring the client’s needs are met efficiently.
- Offering compensation and claim processing within set timelines as possible.
- Inspecting forwarded policy claims to ascertain their legitimacy and legality to the agreement.
- Cross examining the member’s premium track records.
- Recruiting more members and groups into the policy schemes.
Education
Bachelor of Science - Statistics
Laikipia University
Laikipia, Kenya01.2022
Bachelor of Science - Actuarial Science
Jomo Kenyatta University of Agriculture and Technology
01.2017
Kenya Certificate of Secondary Education (KCSE) -
Agoro Sare High School
01.2012
Kenya Certificate of Primary Education (KCPE) -
Chalkan Academy
01.2007
Masters - actuarial science
The University of Nairobi
Skills
- Credit management techniques
- Financial statement analysis
- Loan appraisal advisory
- Loan repayment scheduling
- Customer engagement and marketing
- Group presentation skills
- Training on banking channels
- Customer incentive strategies
- Suspicious transaction monitoring
- Money laundering reporting
- Document verification processes
- KYC compliance adherence
- Transaction anomaly reporting
- Customer protection measures
- Human trafficking reporting
- CBK compliance adherence
- Risk assessment and surveys
- Financial record analysis
- Invoicing data generation
- Collection trend analysis
- Advanced Excel proficiency
- Programming in C, R, STATA, SPSS
- Vendor and supplier tracking
- Payroll management and tracking
- Billing and invoicing expertise
- Detailed report generation
- Underwriting compliance
Certification
- 2018: Credit and Risk Management Training by KPMG
- 2018: Business development techniques by Sanlam Insurance Company
- 2018: Anti-money laundering training by Western Union Academy
- 2018: Risk management and compliance in Kenya by Western Union Academy
- 2017 Jan - 2017 Dec: Certificate in Statistical and Data Analysis Techniques – R Studio, STATA, EXCEL, SPSS, Beam International College
- 2017 May - 2017 Nov: Applied Computer Packages 1-9, Beam International College
- 2016-2017: Certified computer programming languages and data analysis techniques C++, R Studio, STATA, Excel, and database administration systems
- 2016-2016: Certificate in Computer Accounting Application (QuickBooks) - Beam International College
Languages
English, Kiswahili, Ekegusii
References
- Kevin, Musundi, Branch Manager, Kevinmusundi100@gmail.com, 0702742119, Sidian Bank
- Kenneth, Koech, Life Assurance underwriter, Kenneth.Koech@cickenya.com, 0705994666, CIC INSURANCE
- Esther, Machana, Snr. Lecturer, esymachana@yahoo.com, 0725719013, Kibabii University, P.O. Box 1076–40200
Affiliations
- Member – The Kenya Red Cross Society
- Member – the Actuarial Society of Kenya (TASK)
- Member – Jomo Kenyatta University Actuarial Students' Association (JKUASA)
- Member – College of Insurance (student)
Departments interned
- Life Assurance department.
- General insurance department
- Claims department
- Risk and Analysis department.
Accomplishments
- Managed to attract sponsorship for Lami's flagship projects in Insure tech activities and agent trainings up to a tune of $20590 for the year 2024/2025.
- Facilitated internal staff trainings and external agent trainings on Key Insurance Fields.
- Got a recognition for best performing staff for the year 2023 and 2024 consecutively
Languages
English
First Language
Swahili
Advanced (C1)
C1
References
References available upon request.
Timeline
UNDERWRITING EXECUTIVE
LAMI INSURANCE BROKERS
05.2022 - Current
UNDERWRITER PRICING
MADISON GENERAL INSURANCE
01.2021 - 05.2022
RELATIONSHIP OFFICER – CREDIT: MICRO INDIVIDUAL AND GROUP UNDERWRITTING
FAULU MICRO-FINANCE BANK
09.2019 - 11.2020
RELATIONSHIP OFFICER – OPERATIONS AND CUSTOMER SERVICE
SMEP MICRO-FINANCE BANK
06.2018 - 08.2019
INSURANCE FINANCIAL ADVISOR
ICEA LIONs INSURANCE
06.2017 - 11.2017
Bachelor of Science - Statistics
Laikipia University
Bachelor of Science - Actuarial Science
Jomo Kenyatta University of Agriculture and Technology
Kenya Certificate of Secondary Education (KCSE) -
Agoro Sare High School
Kenya Certificate of Primary Education (KCPE) -
Chalkan Academy
Masters - actuarial science
The University of Nairobi
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