Underwriting Assistant Job Description
Underwriting Assistant Duties & Responsibilities
To write an effective underwriting assistant job description, begin by listing detailed duties, responsibilities and expectations. We have included underwriting assistant job description templates that you can modify and use.
Sample responsibilities for this position include:
Underwriting Assistant Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Underwriting Assistant
List any licenses or certifications required by the position: AINS, SIG, ASLI, INS
Education for Underwriting Assistant
Typically a job would require a certain level of education.
Employers hiring for the underwriting assistant job most commonly would prefer for their future employee to have a relevant degree such as Collage and Bachelor's Degree in Education, Associates, Management, Finance, Business, General Education, Economics, Statistics, Mathematics, Graduate
Skills for Underwriting Assistant
Desired skills for underwriting assistant include:
Desired experience for underwriting assistant includes:
Underwriting Assistant Examples
Underwriting Assistant Job Description
- Configures, calculates formulas, and manipulates census data
- Develops and maintains professional relationships with the appropriate internal stakeholders
- Maintains customer confidence by keeping all information confidential to protect company operations
- Recognizes what needs to be done to meet the customers' needs and demonstrates flexibility and responsiveness by communicating with others inside and outside the process to generate customer satisfaction
- Perform underwriting support activities associated with information gathering and rating of new business, renewals, and mid-term changes, electronic file preparation on behalf of the Underwriter
- Working directly with the property underwriters to help manage and support their renewal and new business book
- Producing quotes and binders for the Underwriters to present to our brokers
- Issuing new business and renewal policies and endorsements as instructed by the Underwriter
- Research and answer inquiries from internal and external brokers and customers
- Will interact directly with various business partners and internal departments
- Insurance industry experience suggested but not required
- Outstanding organizational skills and time management capabilities
- Can work cohesively in a team environment and follow direction well
- Understanding of Property and Casualty insurance coverages highly desired
- Minimum 2-4 years working in a commercial Property and Casualty insurance operation desired
- Active Property and Casualty Indiana Insurance license
Underwriting Assistant Job Description
- Process and review new and renewal business, endorsements, cancellations, and reinstatements for Agents
- Conduct agency audits
- Perform underwriting file analysis
- Initiate renewal underwriting process
- Issue binders, including subjectivities and related activities
- Order and review inspections and process audits
- Triage submissions, new submissions upon receipt according to underwriting criteria
- Operate within assigned level of authority
- Coordinate with Underwriters in rating assigned lines of business and using appropriate rates either through company rating system or manual rating
- Process binders and invoices through the ConceptOne agency management system according to Underwriter instructions
- Must have the ability to interpret and follow instructions accurately
- Be detail oriented with good follow-through skills
- Must be able to analyze a situation and make a decision
- Demonstrated strong ability to collaborate and act decisively
- Ease with all technologies available and readily utilizes them to complete tasks at hand in a more efficient manner
- College Diploma, bachelor’s degree preferred
Underwriting Assistant Job Description
- Service policies by issuing endorsements designated by Underwriters using approved forms
- Achieve SIG servicing goals as established by SIG Senior Management
- Provide accurate data input as part of rating and policy issuance and servicing responsibilities
- Stay current on relevant policy forms that are utilized in SIG’s areas of specialization
- Participate in SIG training program to maintain understanding of SIG underwriting programs
- Administration of assigned accounts throughout the lifecycle
- Liaising with Underwriters to confirm policy issuance instructions for proprietary policies, endorsements, forms, notices, and effectively communicate to the Coding and Issuance Unit
- Performing pre-analysis support for new submissions, renewals, endorsements, and other incoming documents based upon predefined underwriting rules and/or guidelines
- Completing quality control on the rating output to ensure accuracy of work
- Accurately compiling supporting account detail in electronic format using PDF conversion tools
- 7, 52 & 63 within 6 months of employment required
- Daily Multitasking
- 3-5 years or more of related experience preferred
- Familiarity with real estate law is beneficial
- Paralegal Certificate desired but not required
- Demonstrated experience in excellent problem solving skills
Underwriting Assistant Job Description
- Minimum to two years of insurance experience
- Underwrite, quote and bind Professional Indemnity business
- Assist in maintaining the renewal retention by liaising with agents to ascertain competition, coverage requirements
- Deal with referral and complex risks
- Handle mid-term policy adjustments which can vary from change of addresses to requests for higher limits
- Assist the junior members of the team by acting as a referral point for business outside of their authority or experience
- Deal efficiently with broker’s queries as they arise
- Collect account and insured information for risk analysis by communicating directly with Brokers on behalf of the Underwriters
- Liaise with Underwriters, Brokers and Reinsurers on behalf of the Underwriting Support Unit as needed to communicate account status and complete outstanding subjectivities
- Liaise with Underwriters to confirm policy issuance instructions for policies, endorsements, forms, notices, certificates, etc and effectively complete coding/issuance
- Analyzing the relative costs, benefits and potential risks of certain actions and deciding upon the most appropriate course of action for the situation
- Some business related college courses desired
- Compelete proficiency in underwriting
- Proficiency in analytical and strategic planning skills
- Previous experience in utilization and pricing models, HMO Act, state regulations, rate setting principles, and actuarial concepts
- Master's degree in mathematics, statistics, business administration or a directly related field
Underwriting Assistant Job Description
- Calculate base rating and apply experience modifications as part of Underwriting package completed by Underwriting Support Unit for Underwriter review
- Quality control rating output to ensure accuracy of work
- Analyze informational reports to glean anecdotal information for Underwriting as part of Underwriting package (e.g., summarize Loss Runs, Financials of proposed insured)
- Rate premium changes for premium bearing change requests
- Request input from Risk Mitigation teams (Risk Control, GAPS, Cat modeling group, etc) in anticipation of Underwriter’s needs for risk analysis/risk selection
- Update electronic diary system to accurately reflect account status and notes to/from the Underwriters and Broker discussions
- Accountable for completeness of contents of Coding/Issuance package prior to handover to Processing Specialist for Coding/Issuance process – future responsibility
- Create and maintain electronic file for accounts as required for Sarbanes Oxley and Internal Audit Guidelines
- Accountable for accuracy of data entry completed
- Accurately compile supporting account detail in electronic format using Adobe Standard or other pdf conversion tool
- Ability to work on multiple projects, while still maintaining focus, accuracy and organization
- Title Coordination for all commercial projects
- Offshore procedures – all processes
- Coordinating with Offshore and providing training on the Survey Reading program
- Some customer facing exposure with title offices for the Survey Reading program
- Survey Reading production