KOFI OHENE KWADADE ASARE
Accra
Summary
Highly-motivated employee with desire to take on new challenges. Strong worth ethic, adaptability and exceptional interpersonal skills. Adept at working effectively unsupervised and quickly mastering new skills.
Overview
16
16
years of professional experience
Work History
Head, Technical Operations
Imperial General Assurance
2023.11 - Current
- Lead a team of 5 managers by giving strategic and tactical direction needed to manage all aspects of technical operations concerning underwriting, claims and reinsurance units
- Track trends and suggested enhancements to both challenge and refine the company's product offerings
- Update and resolve incidents and manage claims objectively while maximizing profit
- Oversee operations and provide corrective feedback to achieve daily and long-term goals
- Negotiate new annual contracts and service agreements with clients and service providers to achieve prime pricing
- Interacted well with customers to build connections and nurture relationships
- Implemented process improvement to shape organizational culture, optimize procedures for higher efficiency and help the company evolve and grow
- Spearheaded successful business development initiatives aligned with the company's strategy and core competencies
- Implemented business strategies, increasing revenue and effectively targeting new markets
- Trained new employees on proper protocols and customer service standards
- Reduce operational risks while organizing data to forecast performance trends.
Senior Manager, Southern Sector Operations
Imperial General Assurance
2022.08 - Current
- Lead a team of 5 managers by giving strategic and tactical direction needed to grow broker, direct, agency and retail lines of business within the sector to achieve a Gross premium of GHS 20,000,000.00
- Develop and implement the business plan for Southern Sector
- Deepen the relationship with brokers so as grow our brokers contribution to the company’s top line
- Identify key business drivers and maintain consistent constant contact with decision makers
- Identify business trends and formulate strategies that will help grow the sector and company at large
- Identified knowledge gaps within my sector and closed them through constant training and feedback
- Prepared operational reports for Executive Managements to support key decision making
- Facilitated communication between managers within the sector and Executive Management
- Handled all technical and operational issues within the sector
- Responsible for the development of new products for the market as a strategy to differentiate the brand
- Managed daily operations, incoming requests and long term planning of 3 branches and 2 other units within the sector through continual team and client communication
- Responsible for the drawing up and implementation of sales and marketing strategy for the sector.
Head, Niche Business Unit
ENTERPRISE INSURANCE
2021.01 - 2022.08
- Lead a team of 2 members giving strategic direction needed to grow non-traditional and complex lines of business to achieve a Gross premium of GHS 8,000,000.00
- Responsible for the growth of non-traditional insurance products as part of the product mix
- Develop and implement the business plan for Niche Business Unit
- Deepen the relationship with brokers so as to co-create and sell non-traditional lines of insurance
- Develop policy wording, claim forms and proposal forms for all product offerings and underwriting of all niche businesses within the company
- Responsible for the underwriting of all specialized and complex risks within the business such as Cyber Liability insurance for Banks
- Responsible for the drawing up and implementation of sales and marketing strategy for the unit.
Asst. Manager, Niche Business Unit
ENTERPRISE INSURANCE
2020.01 - 2020.12
- Responsible for the growth of non-traditional insurance products as part of the product mix
- Develop and implement the business plan for Niche Business Unit
- Deepen the relationship with brokers so as to co-create and sell non-traditional lines of insurance
- Develop policy wording, claim forms and proposal forms for all product offerings
- Responsible for the underwriting of all specialized risks within the business
- Responsible for the drawing up and implementation of sales and marketing strategy for the unit.
Asst. Manager, Broker Management Team
ENTERPRISE INSURANCE
2019.01 - 2019.12
- Manage all the broker channel businesses within the business
- Develop strategies to grow the broker channel business
- Deepen the relationship with brokers and resolve broker issues at first instance
- Assist brokers in the placement of their clients risks
- Maintain an up-to-date database of all active brokers
- Prospect for new brokers
- Engage broker heads both formal and informal on business and social issues
- Introduce attractive incentives to both broker heads and schedule officers
- Ensure 85% retention on existing business in terms of value and volume
- Timely dissemination of critical information to Brokers
- Monthly and quarterly meetings to review budget and initiatives
- Present monthly reports on KPIs and key initiatives
- Ensure timely payment of commission to Brokers
- Support Brokers end- to- end sales process i.e
- From quotation to claims
- Offer Brokers legendary customer experience through relationship management
- Track and implement all communicated incentives to Brokers
- Plan and organise annual Broker conference
- Business intelligence - Gather, analyse and interpret both external and internal data for purposes of bridging gaps
- Ensure adherence to NIC regulations and other compliance guidelines.
Head, Corporate Relations
Enterprise Insurance
2018.01 - 2018.12
- Lead a team of 4 to grow the corporate accounts of the business to achieve an annual budget of GHS 25,000,000
- Developed actions and implementable tactics to grow the Enterprise Corporate business to GHC25m
- Managed and underwrote and negotiated global risks presented by global partners
- Ensuring that global partners complied with new NIC Regulation by providing updates to global partners
- Helped prioritize work schedules and delegated assignments
- Ensured the establishment of a successful structure for a growing corporate company
- Liaised with other facultative insurers to place business with Enterprise
- Analyzed and improved departmental operations resulting in increased productivity.
Head, Bancassurance
Enterprise Insurance Company Limited
2015.01 - 2017.12
- Responsible for the operations of the bancassurance unit
- Responsible for growing and maintaining business relationships with SCB relationship Managers and Insurance clients in order to provide excellent and differentiated customer service
- Responsible for the underwriting of all Bancassurance policies
- Initiate, lead and manage bancassurance operations framework
- Train and support Bank sales team and Insurance specialists across the bancassurance channel
- Develop and execute bancassurance strategy
- Develop and execute retention strategy for bancassurance growth
- Branch visits and liaising with branch managers to create awareness within the branches to ensure targets are met
- Provision of technical and sales support on commercial insurance policies for SCB clients
- Ensure compliance to internal sales process and other compliance standards
- Providing sales support by conducting joint sales with Relationship Managers
- Ensuring timely issuance of policies and resolving all issues related to bancassurance policies
- Responsible for the recruitment, training and deployment of all direct sales force
- Responsible for the training of SCB Relationship Managers on all product lines within the Bancassurance Channel
- Responsible for timely monthly reports and other reporting activities such as annual and quarterly budgets/projections for the Unit
- Ensure business target and productivity targets are met
- Performing supervisory role with respect to Retail & SME Units.
Snr. Client Relations Executive, Retail & SME
Enterprise Insurance Company Limited
2014.07 - 2014.12
- Responsible for managing major sources of businesses including brokers
- Responsible for the performance and achievement of the Retail and SME Unit’s annual target
- Responsible for growing and maintaining business relationships with our major sources of business including DirectLine Risk Consult, Standard Chartered Bank, MicroEnsure, NDL
- Developing new insurance distribution avenues for the retail and SME market
- Responsible for liaising between our retail and SME clients and back office operations
- Responsible for monthly reports and other reporting activities such as annual and quarterly budgets/projections for the Unit
- Performing supervisory role with respect to policies underwritten and day to day operations of the Unit.
Risk Manager
Donewell Insurance Company Limited
Accra
2014.03 - 2014.06
- Responsible for identifying and mitigating against risk areas in the company’s operations and general environment that will affect the company
- Perform risk audit of data inputs in underwriting software to verify its authenticity in relation to appropriateness and correctness of cover, insured details, confirmation of assets being insured amongst others and ensure that lapses in client details are updated
- Conduct pre and post loss surveys and inspections
- Report on recommendations made during surveys and monitor its implementation by clients
- Responsible for claims and ensure that there is strict adherence to the claims manual and timeliness in processing claims
- Responsible for claims reporting and ensure that claims generated are accurate
- Send monthly reports on risk exposures and recommendations on how to minimize the impact of these risks
- Develop a risk management policy
- Responsible for managing the underwriting of policies above company’s risk appetite and ensure all reinsurance protection is sought and cover is adequate.
Regional Manager, Accra East Region
Donewell Insurance Company Limited
Accra
2013.05 - 2014.02
- Responsible for overall supervision of the region and day to day management of the regional office
- Direct and coordinate daily business operations in the region
- Set goals, develop business strategies and new business opportunities for the entire region
- Oversee company operations throughout the region by coordinating and supervising the work of all satellite and agency offices within the region
- Ensure that the annual production target set for the region is achieved
- Prepares and submits for approval by the chief operating officer objectives, strategies and action plans aligned to the overall corporate objectives
- Send monthly returns to the head office by close of 2nd day of the following month with analysis indicating actual premium production as against budget and explaining any variances in premium income report and premium debtors report
- Develop marketing strategies and plans to support the achievement of set targets
- Visit and service strategic client especially corporate clients at least once a quarter
- Manage the company’s reputation in the region and promote good corporate image and the Donewell brand
- Ensure that office buildings, advertising billboards, signposts and distribution outlets, such as D.V.L.A and other container shops are maintained and renovated appropriately to advance Donewell’s Corporate image in the region
- Handles customer complaints efficiently and ensures good customer service in the region
- Handles claims and ensures conformity with corporate claims management procedures.
Group Underwriting Officer
Enterprise Life Assurance Co. Ltd
Accra
2010.06 - 2011.08
- Responsible for underwriting duties of credit life and group life businesses
- Responsible for managing the accounts (new business, renewals, claims, amendments) of all corporate clients
- Handling of claims including claims investigation and authenticating claims documents
- Reinsurance placements
- Other policy administrative duties such as record keeping, filling, following up on claim cheques, preparing medical request letters
- Providing monthly and weekly reports as well as reinsurance reports and accounts for all businesses within group operations.
Executive Assistant, Claims & Reinsurance
NEM Insurance (Ghana) Ltd
Accra
2010.02 - 2010.05
- Post loss inspections of damaged properties and the preparation of post loss inspection reports
- Negotiating and adjustment of claims
- Ensuring fair settlement of all insurance claims as well as ensuring the satisfaction of all our clients
- Investigating and verify all claims made to ensure all claims are genuine
- Preparing monthly reports on claims and claims management
- Analysis of risk assumed and evaluate the adequacy of reinsurance cover in place, assess premiums charged and evaluate the terms and conditions of the risks assumed against reinsurance terms and conditions
- Ensure that all risks assumed have the proper reinsurance in place
- Gather all underwriting information needed to adequately reinsure risks
- Coordinate with other insurance companies and reinsurance brokers in the placement of risks on facultative reinsurance basis
- Preparation of placement slips and placement of risks on reinsurance market
- Preparation and review of quarterly reinsurance accounts
- View reinsurance payments and recoveries relating to reinsurance premiums, commissions and claims
- Calculate reinsurance premium, profit commission as per reinsurance treaty terms and preparation of the relevant documentation.
Customer Relations Officer
Enterprise Insurance Company Limited
Accra
2008.11 - 2009.10
- Claims investigation
- Claim reports
- Post loss inspections of damaged properties and the preparation of post loss inspection reports
- Negotiations of claims cost and adjusting losses
- Ensuring authorization for repair or restoration is giving within the shortest possible time
- Reinsurance placement and preparation of placement slips
- Designing and implementing effective record keeping and filing system
- Customer service such as renewals, quotations and handling of general enquiries to walk-in clients.
Research Analyst
IC Securities
Accra
2008.08 - 2008.10
- Analyzed financial information relating to assigned companies in order to make informed recommendations to fund managers
- Keep up to date with market development on various bourses being monitored and monitored events that could potentially have affected stock performance
- Monitored financial news using specialist media sources
- Provided daily market reports on various bourses and periodic reports on various sectors of the economy to identify potential investment opportunities
- Financial modeling and building financial models for various companies for valuation purposes.
Education
Master of Science - Insurance And Risk Management
Cass Business School
London2012-10
Advanced Diploma in Insurance - Insurance
Ghana Insurance College
Accra, Ghana2010-10
Diploma in Insurnace - Insurance
Ghana Insurance College
Accra, Ghana 2009-10
Bachelor of Science - Business Administration
Ashesi University
Accra, Ghana2008-05
Skills
- Teamwork and Collaboration
- Multitasking
- Training & Development
- Conflict Resolution
- Leadership
- Problem Resolution
- Organizational Skills
- Microsoft Office
- Attention to Detail
- Analytical
- Customer Service
- Team building
- Customer Relations
Accomplishments
• Successfully restructured my workgroup which saw an over 70% growth in all premium income generating unit within the workgroup in 2015.
• Delivered Year on Year Underwriting profit above company Threshold of 10% from 2015 to 2017
• Delivered and exceeded year on year new business target between 2015 to 2017
• Trained and mentored sales persons within the bancassurance space on underwriting and risk selection to improve customer service
• Restructured the operations of Retail, Sme & Bancassurance departments in 2015 which lead to the highest growth and profitability of the units in a single year
• Developed several insurance products for non-traditional risks within the SME and Micro Space
• Developed products which could distributed in the telco and retail spaces
• Team member for everything with respect to innovations and products within Enterprise Insurance
• Achieved the reputation for quality customer service which increased referrals
• Part of the team that developed retention strategy for Enterprise Insurance in 2016
• Together with a team, developed and deployed the 2015- 202 strategic Partnerships Agenda in Enterprise Insurance
• Together with a team, developed and implemented the 2017 – 2018 Growth strategy for Enterprise Insurance
• First to successfully underwrite Cyber Liability insurance in 2021
• Together with KEK insurance brokers (Solomon Boateng), successfully developed a medical Malpractice wording suitable for the Ghanaian Market
• Successfully grew bancassurance portfolio from 800,000 cedis to 5.5 million cedis in 3 years
• Grew the non-traditional risk portfolio from 1.9 million Cedis to 12.4 million cedis in 2 years
References
References available upon request.
Timeline
Head, Technical Operations
Imperial General Assurance
2023.11 - Current
Senior Manager, Southern Sector Operations
Imperial General Assurance
2022.08 - Current
Head, Niche Business Unit
ENTERPRISE INSURANCE
2021.01 - 2022.08
Asst. Manager, Niche Business Unit
ENTERPRISE INSURANCE
2020.01 - 2020.12
Asst. Manager, Broker Management Team
ENTERPRISE INSURANCE
2019.01 - 2019.12
Head, Corporate Relations
Enterprise Insurance
2018.01 - 2018.12
Head, Bancassurance
Enterprise Insurance Company Limited
2015.01 - 2017.12
Snr. Client Relations Executive, Retail & SME
Enterprise Insurance Company Limited
2014.07 - 2014.12
Risk Manager
Donewell Insurance Company Limited
2014.03 - 2014.06
Regional Manager, Accra East Region
Donewell Insurance Company Limited
2013.05 - 2014.02
Group Underwriting Officer
Enterprise Life Assurance Co. Ltd
2010.06 - 2011.08
Executive Assistant, Claims & Reinsurance
NEM Insurance (Ghana) Ltd
2010.02 - 2010.05
Customer Relations Officer
Enterprise Insurance Company Limited
2008.11 - 2009.10
Research Analyst
IC Securities
2008.08 - 2008.10
Master of Science - Insurance And Risk Management
Cass Business School
Advanced Diploma in Insurance - Insurance
Ghana Insurance College
Diploma in Insurnace - Insurance
Ghana Insurance College
Bachelor of Science - Business Administration
Ashesi University
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