Underwriting Analyst Job Vacancy in Kampala, Uganda – Insurance & Financial Services

Job Description

Position: Underwriting Analyst

Company: Old Mutual Uganda

Location: Kampala, Uganda

Experience: 3-5 years of underwriting experience in insurance

Education: Bachelor’s degree in Finance, Business Administration, or related field

Employment Type: Full-time

Industry: Insurance & Financial Services

Department: Underwriting

Salary: SSP 2,500,000 – SSP 4,000,000 per annum

Vacancies:1

Company Overview

Old Mutual Uganda is a leading provider of comprehensive insurance solutions, offering life, health, and general insurance products to individuals and businesses across the nation. With a strong heritage of financial stability and customer‑centric service, Old Mutual Uganda has built a reputation for innovative risk management and community involvement. The company is committed to fostering a culture of excellence, integrity, and continuous learning, making it an attractive destination for professionals seeking long‑term career growth. As part of the broader Old Mutual Group, the Ugandan subsidiary benefits from global expertise while tailoring solutions to the unique needs of the local market. This dynamic environment creates abundant Uganda Jobs and positions Old Mutual as a top employer for those looking for rewarding career opportunities in Uganda.

Job Overview

The Underwriting Analyst will play a pivotal role in assessing risk, pricing policies, and supporting the underwriting team to ensure profitable and compliant insurance solutions. Reporting to the Senior Underwriter, the analyst will evaluate applications, conduct financial analysis, and collaborate with sales and actuarial teams to develop competitive products. This role is essential for maintaining the high standards of underwriting excellence that Old Mutual Uganda is known for. Candidates will engage with a diverse portfolio of clients, ranging from small enterprises to large corporations, contributing directly to the company’s growth and the broader financial stability of Uganda. For more information about our corporate values and career pathways, visit our website.

Key Responsibilities

• Analyze insurance applications and assess risk exposure using quantitative and qualitative methods.
• Prepare detailed underwriting reports and recommend appropriate pricing structures.
• Collaborate with sales agents to gather necessary documentation and clarify policy terms.
• Monitor portfolio performance and identify trends that impact profitability.
• Ensure compliance with regulatory standards set by the Insurance Regulatory Authority of Uganda.
• Assist in the development of new insurance products and enhancements to existing offerings.
• Maintain accurate records in the underwriting management system.
• Provide training and mentorship to junior underwriting staff as needed.

Required Skills

• Strong analytical and numerical abilities with proficiency in Excel and underwriting software.
• Excellent communication skills for interacting with clients, agents, and internal teams.
• In‑depth knowledge of Ugandan insurance regulations and market dynamics.
• Attention to detail and ability to work under tight deadlines.
• Problem‑solving mindset with a focus on risk mitigation.
• Team‑player attitude with a collaborative approach.
• Ability to interpret financial statements and credit reports.
• Ethical judgment and commitment to confidentiality.

Education

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 and demonstrate a commitment to the underwriting profession.

Experience

Applicants should possess three to five years of hands‑on underwriting experience within the insurance sector, preferably with exposure to both life and general insurance lines. Experience in a fast‑paced environment and a proven track record of accurate risk assessment are essential.

Salary

The compensation package ranges from SSP 2,500,000 to SSP 4,000,000 annually, commensurate with experience and qualifications. Performance‑based bonuses and incentives are also part of the total rewards structure, reflecting the company’s commitment to rewarding high achievers.

Benefits

• Comprehensive health and life insurance coverage.
• Retirement savings plan with employer contributions.
• Paid annual leave and public holidays.
• Employee assistance program for personal and professional support.
• Flexible working arrangements where applicable.
• Transportation allowance for commuting within Kampala.

Training

• On‑boarding program covering company policies, systems, and underwriting standards.
• Continuous professional development workshops and seminars.
• Access to industry certifications and tuition reimbursement.
• Mentorship from senior underwriters and actuarial experts.
• Regular webinars on emerging risks and regulatory updates.

Working Environment

Old Mutual Uganda offers a modern office environment in the heart of Kampala, equipped with state‑of‑the‑art technology and collaborative workspaces. The culture emphasizes teamwork, innovation, and a balanced work‑life approach, fostering an atmosphere where employees can thrive and contribute meaningfully to the organization’s success.

Application Process

Interested candidates should submit their updated CV and a cover letter outlining their suitability for the role through the online application portal on our website. Applications will be reviewed on a rolling basis, and shortlisted candidates will be contacted for an initial interview followed by a technical assessment.

Equal Opportunity Statement

Old Mutual Uganda is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, ethnicity, disability, or any other protected characteristic. Our hiring practices reflect our dedication to fairness and meritocracy, ensuring that every applicant has an equal chance to succeed.