Peter Mochama

Reporting to the CEO:
•Preparing Board reports for the operations departments in a timely and accurate manner.
•Reviewing the company’s risk assessment and acceptance policies with a view of meeting the company’s underwriting profits
•Continually reviewing departmental performance and recommending measures to improve efficiency.
•Analyzing reports from legal, claims, underwriting and customer service departments and providing advice for underlying issues
•Preparing periodical management reports and ensuring that any necessary remedial action is taken promptly.
•Constantly monitoring performance of subordinates
•Reviewing the company’s pricing policies to ensure product prices are commensurate to the risks and are compliant to IRA.
•Leading in the digitization of the claims and underwriting processes to achieve a paperless environment.
•Developing and implementing strategies to ensure the achievement of profitability targets through prudent cost management.
•Implementing initiatives to increase customer satisfaction and retention through formulating, documenting, and implementing legal, claims and underwriting strategies.
•Reviewing and constantly improving workflow and business processes to ensure accuracy and effectiveness.
•Providing regular reporting, insights, and updates to the CEO on the performance of the team with respect to pending claims and court cases
•Analyzing policies in place and implementing missing relevant policies in the company’s product disclosure statement
•Ensuring compliance with company’s policies, procedures, regulatory requirements, and risk management for all departments (underwriting, Claims & reinsurance)
•In liaison with HR, lead the recruitment of critical vacancies in the respective departments.
•Developing the company’s reinsurance strategies and ensure reinsurance treaties in place are optimal at all times.
•Ensuring compliance in the submission of approved reinsurance treaties to IRA by 31st October of every year

Reporting to the CEO:

• Conducted premium and expense projections as part of strategy formulation and budgeting.
• Supervised claims reserves review on quarterly basis to ensure adequacy of IBNR and IBNER.
• Set KPIs for direct reports in collaboration with HR team.
• Conducted quarterly performance appraisal on staff
• Reviewed and implemented approved operational controls: Underwriting Authority Matrix, Claims/Reserves Approval Matrix, Payments approval Matrix, Claims & Reserving guidelines, Underwriting guidelines.
• Ensured timely submission of accurate and duly approved statutory returns to IRA on monthly basis
• Approved quotations, reserve movements, payments, policy documents within approved authority limits.
• Conducted monthly portfolio performance review touching on GWP growth trends, loss ratios, product mix and source channel mix and addressed deviations from targets.
• Analyzed existing reinsurance programs, identified gaps and recommended improvements at treaty renewal negotiations with reinsures.
• Created and implemented approved service provider selection criteria for Claim Assessors, Claim Adjusters, Lawyers, Garages, Investigators & Valuers)
• Re-worked and implemented approved ex-gratia claims guidelines and Salvage disposal guidelines.
• Developed and implemented approved archiving and file destruction policy
• Managed salvages including formulating salvage custody and auction guidelines.
• Coordinated action on audit recommendations for internal and IRA audits to ensure a compliant business operation
• Coordinated pursuance of outstanding premiums in collaboration with credit control.
• Reported on business performance to management on monthly basis explaining deviations from targets and providing remedial solutions.

Accomplishments:

• Successful integration of MUA Insurance and Saham Assurance operations on merger.

Reporting to the CEO:

• Monitored sales team initiatives focused on sales pipeline, new business acquired and interventions needed to ensure quote conversion.
• Revamped incentive structure for sales team and intermediaries by introducing the element of profitability.
• Conducted monthly portfolio performance reviews in terms of productivity and profitability per class and per intermediary and addressing deviations from targets.
• Supervised the digitization of motor certificates in 2019 in collaboration with AKI
• Led new product development process initiatives including market research, pricing structure, application forms, policy wordings and approval by IRA
• Managed company surety bonds portfolio actively pursuing retirement of active bonds reducing liability to acceptable levels.
• Acquired new business partnerships in 2020 with motor dealers with annual GWP of Ksh.25m
• Managed the business renewal cycle aiming at maximum retention in both premiums and policy count.
• Conducted by-weekly one-on-one meetings with direct reports to engage, coach and mentor.
• Chaired the Technical Committee that monitored performance per account, class and intermediary and addressed any identified deviations from targets.
• Supervised international business scheme (GLOBUS) with annual premium budget of Ksh.100m with European and American insurers with clients in Kenya.
• Conducted premium collection from customers.
• Prepared various business reports touching on New Business, Renewals and loss ratios and presented them to management.
• Supervised premium booking and policy document processing.
• Approved quotations, policy documentation and payments within authority limits.
• Expanded company geographical footprint by supervising the set up and opening of new branches
• Provided solutions to mitigate disruption of business during outbreak of Covid19 pandemic, Russia Ukraine War and MUA merger with Saham Assurance.

Accomplishments:

• Year on year GWP growth: 7% for 2019, 4% for 2020 and 2% for 2021.
• Loss Ratios: 44% for 2019 and 50% for 2020
• Renewal retention rates of 69% for 2020 and 69% for 2021.
• Retired 75% of active bonds reducing company bonds liability by 47% within one year in 2021

Reporting to the CEO:

• Generated portfolio status reports and made presentations to management.
• Supervised preparation and submission of approved statutory returns (mainly claims returns) to IRA.
• Supervised claims reserving and approval of reserve movements within approved authority limits
• Set staff KPIs annually.
• Conducted staff performance evaluation on quarterly basis.
• Guided New product development collaborating with actuarial team on market research, development of business plans, rating structures, proposal forms, policy wordings and seeking IRA approvals.
• Developed and implemented risk survey program setting criteria and frequency for survey.
• Conducted product technical trainings to staff and intermediaries.
• Supervised and audited branch operations.
• Identified gaps in reinsurance treaty in place and negotiated improvements with reinsures.
• Developed and implemented service provider selection criteria.
• Contributed towards formulation of General Business Revenue and expense budgets.
• Supervised adherence to to set customer service standards.
• Collaborated with credit control team to collect premiums.
• Approved quotations, policy documents and payments within approved authority limits.
• Conducted interviews during new staff recruitment.
• Chaired weekly departmental heads meetings

Accomplishments:

• Full Year 2017 achieved GWP of Ksh.4.7b out of Ksh.6.3b budget. Loss Ratio of 51.6%, Commission Ratio of 10.3%, Expense Ratio of 29.3% and Combined Ratio of 91.2%, Underwriting profit of Ksh.288m, Renewal Retention of 73% on premiums and 63% on Policy Count.
• New SME product (Defender), generated Ksh.62m GWP and 23% Loss Ratio YTD to October 2017
• Growth of Marine Class; cargo by 1300% from Ksh.4m to Ksh.53m as at Q2 of 2017, Overall Hull and Cargo growth of 110% with LR of 6%.
• Teamworking between various departmental heads with introduction of weekly management meetings.
• New ‘Focus on Small & New Brokers’ strategy' generated 20% (Ksh.120m) of broker production as at Q2 of2017.
• Effected changes in quotations process reduced turnaround times by 40%.
• Consolidation of various XOL treaties resulted in 20% treaty premium saving for year 2018.

Reporting To: General Manager, Corporate Business

• Implemented and continually reviewed the pricing policy for new & renewal business.
• Contributed in formulation of the company annual business strategy as related to underwriting.
• Cascaded company underwriting strategy to staff in form of Key Performance Indicators.
• Conducted quarterly appraisals of direct reports.
• Conducted risk surveys for major clients in collaboration with contracted external risk surveyors.
• Provided technical guidance, support and information to the corporate & retail underwriting teams.
• Approved quotations, renewal endorsements and policy documents as per authority limits.
• Attended regular customer meetings with sales team in pursuit of business and maintenance of strong business relationships.
• Participated in audits; internal & external and ensured timely implementation of audit recommendations.
• Collaborated with credit control team in collection of premiums.
• Prepared and sent out renewal terms factoring in the prior account/policy performance in terms of claims.
• Sought quotations from IRA technical committee for listed risks.
• Assisted claims department on claims issues
• Participated in renewal negotiations to maximize renewal retention
• Trained staff and intermediaries on products and processes.
• Ensured safe custody and control of Motor, Marine and Aviation insurance certificates.

Accomplishments:

• A fac-oblig reinsurance facility for year 2016 enabling the underwriting of clinical trials liability insurance which had been excluded under the existing treaty.
• Acquisition of New Aviation business worthy Ksh.60m for the first half of 2015.
• Safeguarded Ksh.20m monthly premium revenue from revamped Motor Binder Scheme.
• Renewal Retention rate of 102% for year 2015 for corporate business.
• 100% staff retention rate of direct reports for 2015 for underwriting department.
• 6 training sessions to staff and brokers in 2015.

Reporting to: General Manager, Operations:

• Provided technical guidance & support to the team.
• Conducted staff and broker training on insurance products.
• Led and supervised an Underwriting Department comprising of 10 (ten) direct reports.
• Generated and presented production reports to management weekly and monthly..
• Collaborated with sales team to review SLAs and binder agreements to safeguard Company interests.
• Offered technical support to new product development.
• Developed and maintained strong business relationships with brokers, agents and
  clients by ensuring high levels of customer service and visitations.
• Supervised quotations process and approved quotes within authority limits.
• Managed the risk survey program and conducted surveys on major clients..
• Colleted premium.
• Managed renewals ensuring timely and informed renewal notices relentless follow up.
• Conducted interviews in recruitment of staff.
• Set Key Performance Indicators for direct staff and conducted quarterly staff appraisals.
• Represented the company at AKI as member of the Marine & Aviation Technical Committee.
• Enforced regulatory requirements regarding listed risks including referring some risks to IRA for quotations.
• Reviewed and approved policy documentation including policy documents, renewal notices.

Accomplishments:

• Corporate business attained Gross Loss Ratio of 29% in 2013 and, 90% renewal premium retention and 60% policy count in 2014.
• Staff retention of 90% in 2014 for underwriting.
• 25% growth in 2013 for marine class and GWP of more than Ksh.95m and 15% growth for 2014.
• Zero non-compliance incidences to regulatory requirements.
• Successful implementation EDMS IT system.
• 100% of underwriting team achieved ‘met’ and ‘well met’ grades in their end year appraisals.
• Attained quotation conversion rate of 40% for 2013.
• Development by AKI Aviation and Marine committee of the Marine Hull Underwriting Guidelines.

Reporting to: General Manager, Operations:

• Negotiated and put in place an optimal Reinsurance Treaties for the business.
• Supervised risk analysis during quotation process and conducted risk surveys in collaboration with contracted risk surveyors.
• Enforced compliance to the approved authority matrices within underwriting department.
• Set staff KPIs and conducted staff appraisals
• Undertook reinsurance claims recoveries including follow up of Cash Calls and XL Claims.
• Undertook facultative placements for mega risks with best rated securities/reinsures.
• Ensured full compliance by underwriting function with statutory and regulatory requirements.
• Prepared and submitted to management production and Reinsurance recovery reports on monthly basis
• Trained underwriting & claims staff on special risks underwriting & reinsurance
• Supported New Product Development by ensuring adequate and relevant reinsurance support.
• Held regular meetings with contracted reinsures, including facultative supporters, to foster good business relations.
• Assisted claims department on claims issues
• Reviewed and approved policy documents, renewal notices, marine certificates.
• Allocated work to direct reports on daily basis and supervised booking of premiums in AIMS system.
• Collaborated with finance team on premium collection.

Accomplishments:

• Reduction in un-recovered treaty claims from reinsures by 30% (Kshs.150m).
• Increment of Fire treaty capacity from Ksh.100m to Ksh.150m per line for 2013 treaty program.
• Secured timely and quality facultative placement for various mega risks including Airtel Africa Property risk, Safaricom Kenya property

Reporting to: General Manager, Distribution:

• Lead a Banc-assurance team of 5 direct reports
• Simplified and created tailor made proposal forms suitable for bancassurance.
• Developed and maintained strong business relationships with various bank agents.
• Prepared and submitted accurate quotations, following up to closure.
• Contracted new bancassurance agents.
• Supervised and monitored performance of various binders, SLAs and schemes in place with bank assurance agents.
• Conducted product and process training for staff and bank assurance agents.
• Conducted monthly portfolio review of the bancassurance book to ensure the same is in line with set targets.
• Managed renewals to ensure maximum retention.
• Followed up and collected premiums..
• Set staff KPIs and conducting staff appraisals
• Reviewed and approved policy documents and renewal notices within set authority limits.
• Undertook monthly reporting on bancassurance production in Mancom.
• Contributed in formulation of bancassurance strategy proposing revenue and expense budgets

Accomplishments:

• Successfully sent up the bancassurance department at UAP Insurance in 2010.

Reporting to: Underwriting Manager:

• Prepared quotations, followed up and negotiated till conclusion.
• Managed renewals ensuring accuracy, dispatching notices early and following up till conclusion.
• Supervised risk survey program and undertook surveys on various risks and enforced implementation of survey recommendations.
• Booked premiums on time and accurately
• Followed up on declarations for declaration policies and adjusted premiums where applicable.
• Executed & dispatched of Insurance Premium Finance Forms in support premium collection.
• Kept motor certificates in safe custody and folowed up on brokers for declaration of certificate usage.
• Collaborated with credit control to collect premiums.
• Allocated work to underwriters and supervised their work.
• Approved policies and endorsements within authority limits.
• Compiled and reported to Underwriting Manager on work position within the department
• Undertook broker and client visits.
• Conducted quarterly appraisals of direct reports
• Conducted staff training on various products
• Assisted claims department on claim issues

Accomplishments:

• Year on year renewal retention of 70% and above from 2008 to 2010

Reporting to: Underwriting Manager:

• Prepared quotations, followed up and negotiated to conclusion.
• Renewed business for allocated accounts and gave reports on lost business.
• Conducted risk assessment through risk surveys, sought prior loss ratios from intermediaries to facilitate prudent underwriting.
• Booked premiums in AIMS system ensuring error free exercise.
• Followed up on declarations and consequently adjusted deposit premiums for declaration
  policies.
• Ensured all processed risks were properly reinsured.
• Signed policy documents within authority limits
• Kept motor certificates in safe custody and pursued brokers to declare usage of certificates allocated to them.
• Continually monitored performance of policies & Accounts/Brokers within the Section in terms of loss ratios
• Collaborated with finance team to reconcile accounts and collect premiums.
• Allocated work to staff (assistant underwriters) and closely supervised their work.
• Undertook daily compilation and reporting to Underwriting Manager the work position within the
  underwriting department.
• Created and maintained strong business relations with brokers through regular visitations.
• Assisted claims department on claim issues and general customer service.

Accomplishments:

• Year on year renewal retention of 70% and above from 2005 to 2008 for accounts handled.

Reporting to Operations Manager:

• Prospected for new clients
• Collected client's risk details and summarized them into risk notes
• Prepared and dispatched risk notes to insurers seeking quotations.
• Analyzed various quotations from insurers and identified most competitive terms for the client.
• Negotiated insurance terms for clients with insurers till agreement.
• Collected premiums and forwarded them to insurers
• Analyzed policy documents to ensure agreement with agreed terms.
• Assisted clients on claims on documentation and follow up payment with insurers
• Assisted and guided clients with proposal forms
• Compiled tender business documents in collaboration with insurers.

Reporting to Assistant Manager: Accident Section

• Booked premiums into the systems for new business, renewal and endorsements
• Followed up on declarations for classes like GPA, Money, WCA and endorsed policies accordingly
• Prepared and dispatched renewal notices
• Collected Premium
• Corresponded with customers on various issues on phone and letter.
• Filed documents including letters, policy documents and endorsements.