Insurance Underwriting Analyst Job Vacancy in Akwatia, Ghana – Insurance
Job Description
Position:Insurance Underwriting Analyst
Company:SIC Insurance Company Ltd
Location:Akwatia, Ghana
Experience:2-4 years in insurance underwriting or risk assessment
Education:Bachelor’s degree in Finance, Business Administration, or related field
Employment Type:Full-time
Industry:Insurance
Department:Underwriting
Salary:SSP 2,500 – 4,000 per month
Vacancies:1
Company Overview
SIC Insurance Company Ltd is a leading provider of life and general insurance solutions across Ghana and the wider West African region. With a legacy spanning over five decades, the company has built a reputation for financial stability, innovative product design, and a customer‑centric approach. As part of its strategic growth plan, SIC is expanding its underwriting capabilities to underserved markets, including the Eastern Region where Akwatia is a key commercial hub. The firm prides itself on fostering a collaborative culture, investing in employee development, and contributing to community development through various corporate social responsibility initiatives. Prospective candidates will join a dynamic team that values integrity, analytical rigor, and continuous improvement, making it an ideal environment for ambitious insurance professionals seeking career advancement.
Job Overview
The Insurance Underwriting Analyst will play a pivotal role in evaluating risk, pricing policies, and ensuring compliance with regulatory standards. Reporting to the Senior Underwriting Manager, the analyst will assess applications for both personal and commercial lines, conduct detailed risk analyses, and collaborate with sales and actuarial teams to develop competitive yet profitable insurance solutions. This position offers a unique opportunity to contribute to the growth of SIC’s portfolio in the Eastern Region while gaining exposure to a broad spectrum of insurance products. The role is integral to maintaining the high standards of underwriting excellence that underpin the company’s market leadership and supports the broader objective of delivering reliable protection to Ghanaian businesses and individuals.
Key Responsibilities
- Analyze insurance applications, financial statements, and supporting documents to assess risk exposure.
- Determine appropriate premium rates using actuarial guidelines and market benchmarks.
- Prepare comprehensive underwriting reports and recommendations for senior management approval.
- Collaborate with sales agents to clarify policy terms, address client queries, and facilitate smooth policy issuance.
- Monitor existing policies for changes in risk profile and recommend adjustments or renewals as needed.
- Ensure all underwriting activities comply with the National Insurance Commission regulations and internal policies.
- Maintain accurate records in the underwriting system and contribute to data quality initiatives.
- Participate in periodic portfolio reviews and assist in developing risk mitigation strategies.
Required Skills
- Strong analytical and quantitative abilities with attention to detail.
- Proficiency in underwriting software and Microsoft Office Suite, especially Excel.
- Excellent communication skills for interacting with clients, agents, and internal teams.
- Ability to interpret financial statements and assess creditworthiness.
- Knowledge of Ghanaian insurance regulations and market trends.
- Problem‑solving mindset and capacity to make independent underwriting decisions.
Education
A minimum of a Bachelor’s degree in Finance, Business Administration, Economics, or a related discipline is required. Professional certifications such as Chartered Insurance Institute (CII) qualifications or equivalent are advantageous but not mandatory.
Experience
Applicants should possess 2‑4 years of hands‑on experience in insurance underwriting, risk assessment, or a closely related field. Experience with both personal and commercial lines is preferred, as is prior exposure to the Ghanaian insurance market.
Salary
The compensation package ranges from SSP 2,500 to SSP 4,000 per month, commensurate with experience and qualifications. Performance‑based bonuses and annual salary reviews are part of the remuneration structure.
Benefits
- Comprehensive health insurance covering employee and dependents.
- Retirement savings plan with employer contributions.
- Paid annual leave, sick leave, and public holidays.
- Professional development allowance for certifications and training.
- Employee assistance program and wellness initiatives.
Training
- Onboarding program covering SIC’s underwriting policies, systems, and compliance framework.
- Continuous learning workshops on emerging risk trends and product innovation.
- Mentorship from senior underwriters and access to industry seminars.
Working Environment
The role is based in the modern SIC office in Akwatia, featuring open‑plan workspaces, meeting rooms equipped with video‑conferencing technology, and a collaborative atmosphere. Flexible working arrangements, including occasional remote work, are supported to promote work‑life balance.
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Application Process
Interested candidates should submit their updated CV and a cover letter outlining their relevant experience through the SIC Careers portal. Applications will be reviewed on a rolling basis, and shortlisted applicants will be contacted for a virtual interview followed by an on‑site assessment.
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Equal Opportunity Statement
SIC Insurance Company Ltd is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, age, disability, or sexual orientation. All qualified applicants will receive consideration for employment without discrimination.
