Underwriting jobs are plenty in Kenya but only available to individuals who have insurance related qualifications. In addition, a university degree in actuarial science, commerce,economics,insurance or related degree course is needed.
Apart from a basic university degree, an individual is required to possess professional qualification such as ACII actuarial related certificate,CFA or ACCA.The most important certificate is ACII,which is directly related to insurance.
Underwriters work in the insurance sector and are directly involved in assessing motor vehicle damages, medical claims and related insurance products claims. This job is important because the amount paid to the victim is determined by the underwriter.
The basic salary of an underwriter with a diploma course and zero professional experience is Ksh25,000.With 3 year work experience and diploma course,the salary adds to Ksh 45,000 per month.
A degree course in actuarial science or insurance attracts a salary of Ksh75,000 while experienced underwriters with a degree in actuarial science earn in excess of Ksh150,000.
In Kenya, senior underwriters at Insurance companies earn Ksh 250,000-Ksh500,000.The highest paid being those working for big insurance companies like UAP,Britam,Old Mutual, Jubilee insurance and AIG.
Underwriting is a serious career,which anyone wishing to work in the insurance sector should shift focus to.It’s highly rewarding.