Insurance Performance Enhancement Specialist

13 hours ago


Kuwait City, Al Asimah Alghanim Industries Full time
Job Summary

The Operational Financial Analyst plays a pivotal role in analyzing financial and operational data to enhance business performance, improve underwriting efficiency, and support strategic decision-making. This role bridges finance and operations, ensuring alignment between financial performance and the company's insurance products and processes.

Key Responsibilities
  • Analyze premiums, claims, and expenses to evaluate the financial health of insurance portfolios.
  • Assess loss ratios, combined ratios, and underwriting profitability across products.
  • Support pricing and reserving processes with data-driven insights.
  • Develop and monitor KPIs related to policy performance, claims handling, and operational efficiency.
Additional Responsibilities
  • Monitor performance indicators, highlighting trends and analyzing causes of unexpected variance.
  • Generate detailed reports on revenue streams and cost drivers, including policy cancellations and renewals.
  • Contribute to the preparation of annual budgets and forecasts, ensuring alignment with strategic goals.
  • Perform variance analysis for underwriting results and claims trends.
  • Collaborate with actuarial team to align forecasts with reserve calculations.
  • Identify inefficiencies in underwriting, claims processing, and premium collections.
  • Recommend operational changes to optimize workflow and reduce financial leakage.
  • Participate in cross-functional projects to automate reporting and analysis processes.
  • Monitor compliance with regulatory requirements for financial and operational reporting.
  • Suggest actions to improve performance by evaluating business results and company KPIs through analyzing and interpreting data and making comparative analysis.
  • Develop, maintain, and enhance system processes, data models, and reporting tools.
  • Collaborate with underwriting, actuarial, and claims departments to ensure operations are aligned with financial objectives.
  • Present findings and recommendations to senior management to support strategic initiatives.
Requirements
  • Education: Bachelor's degree in Finance, Accounting, Economics, or related field; certifications like FMVA are a plus.
  • Years of Experience: Minimum 3-5 years of financial analysis experience within the insurance industry.
  • Skills:
    • Familiarity with insurance metrics, including loss ratios, reserves, and claims trends.
    • Advanced knowledge of Microsoft Excel (pivot tables, advanced formulas).
    • Experience with analytics tools like Power BI and Tableau.
    • Exceptional analytical and problem-solving skills.
    • Effective communication and stakeholder management abilities.
    • Strong attention to detail and accuracy in financial reporting.
    • Ability to interpret large volumes of data and translate it into actionable insights.


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