Underwriting Specialist Job Description
Underwriting Specialist Duties & Responsibilities
To write an effective underwriting specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included underwriting specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
Underwriting Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Underwriting Specialist
List any licenses or certifications required by the position: AFSB, CIP, VA, FHA, SAR, LAPP, DE
Education for Underwriting Specialist
Typically a job would require a certain level of education.
Employers hiring for the underwriting specialist job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Finance, Management, Education, Accounting, Engineering, Marketing, Economics, General Education, Technology
Skills for Underwriting Specialist
Desired skills for underwriting specialist include:
Desired experience for underwriting specialist includes:
Underwriting Specialist Examples
Underwriting Specialist Job Description
- Assists the Ian H
- Work with Underwriting Manager & Underwriters to organize and prepare applications for underwriting
- Monitors website and on-line system
- Assists in the maintenance of Broker and Client Databases
- Works well with moderate guidance and supervision
- Timely and accurate review of applications and related documents including contracts, historical information, source systems, reference material, claims history gather all data necessary to assess risk against established underwriting guidelines and make sound decisions in determining coverage offerings and premium rating
- Directly accountable for producing expected underwriting results (premium rate and loss ratios) for carrier and Affinity's program's)
- Supports new business underwriting needs conserve existing business utilizing established methods to meet retention goals
- For risks or concerns outside of assigned underwriting authority, update the system and prepare necessary documentation for internal or carrier referrals and make appropriate recommendations
- Participate on calls with sales, brokers and/or customers in a professional manner
- Ontario LLQP (Life, Accident and Sickness insurance) licensed preferred but if not currently held, will consider post-hire acquisition of LLQP
- Strong customer service and oral and written communication skills
- Minimum of 2-3 years of real estate experience, preferably in underwriting multifamily real estate loans
- Goal-oriented with the ability to solve problems
- Previous underwriting experience is not required, but some experience is preferred
- Environmental industry experience preferred, but not required
Underwriting Specialist Job Description
- Compile and outline for sales, broker or customer any additional information required to facilitate the application and underwriting process
- Learn multiple products to support revenue growth and cross-sell initiatives
- Developing, underwriting, and managing a portfolio of Contract Surety business
- Accurately and efficiently classify the mortality risk for proposed insured’s as above average (Preferred/Select Preferred), average(Standard), below average (varying Substandard risks) based on both medical and nonmedical information on cases with 2-Year TAAR (Total Amount At Risk-Dollar amount requiring underwriting) of up to and including $1,000,000 without an Attending Physician Statement
- Maintain a strong working knowledge of our administrative systems, product rules, and Underwriting Guidelines
- Author messages to Agents and General Office staff regarding application status, additional requirements needed, input errors and required corrections, Reinsurance offer details and requirements, the final underwriting decision and associated reason(s)
- Listen to Underwriter call clips
- Evaluate call quality using a detailed scorecard
- Maintain detailed call notes
- Relay scoring to direct leaders for coaching opportunities
- Post secondary education or equivalent combination of education & experience KNOWLEDGE, EXPERIENCE AND SKILLS
- Minimum five or more years of group underwriting knowledge and/or related group insurance experience
- Proficient in MS Office ( Word, PowerPoint, Excel, and Outlook)
- Ability to develop strong relationships with sales and broker networks, carrier partners internal team members and customers
- Strong planning, math/analytical, and organizational skills
- Strong knowledge of Microsoft Windows applications
Underwriting Specialist Job Description
- Assist UW Class with Role Playing Calls and objections
- Functions as a highly independent and experienced underwriter able to manage large complex cases, but is not yet expected to handle all levels of complexity
- Fosters continuous learning for themselves and others
- Use discretion to identify underwriting and behavioral opportunities that impact performance of the individuals being evaluated
- Review and evaluates Independent Agent performance as it pertains to retaining file documents
- Identify, track, and communicate quality review results to departmental managers and senior leadership
- Monitors trends in performance to identify training needs
- Work with management and/or Learning and Development Department to develop training plans
- Provide leadership, guidance, and training to peers, internal, and field customers
- Provide assistance to Policy Operations and/or Direct Sales teams in an effort to reinforce skills
- Experience in the insurance industry or a related field (3-5 years)
- Bachelor’s degree (or working toward one) in a business related field business with an emphasis in management, accounting, finance, or a related field preferred
- Must have 9 hours in Accounting and/or Finance
- Previous underwriting experience is not required for Underwriting Specialist I, but some experience is preferred
- Four year college degree and three to five years of commercial underwriting or equivalent experience
- Candidates must have 9 hours in Accounting and/or Finance
Underwriting Specialist Job Description
- Maintain a database for both renewals and prospective accounts that monitors premium increases, persistency, closing ratios, and profitability
- Maintain expertise regarding the retrieval of claims, premium, enrollment, and other data from the BCBST’s systems used in the development of group rates
- Liaison with other departments and divisions interacting with the underwriting and rating processes
- Develop, monitor, and maintain prospective and renewal rating formulas and tools for the commercial group segment
- Works with business users to understand requirements and translate them into technical specifications
- Provides technical leadership on assigned projects and discovery efforts
- Data entry working on various computer systems from correspondence
- Obtain information needed for underwriting decisions including deciding what needs to be referred back to the underwriter
- Write or call agents for additional or missing information
- Assist underwriters with information gathering and written correspondence
- 1-3 years working and underwriting Property & Casualty insurance
- Community Association knowledge a plus
- Strong written and verbal communication skills necessary to communicate in a professional manner with clients and the marketplace
- P& C Licensepreferred
- P & C license preferred - required within 6 months of hire
- P&C License preferred - required to obtain within six months of hire date
Underwriting Specialist Job Description
- Review incoming tasks and either complete them or forward to appropriate team member
- Assist with general questions from team and coworkers
- Possess strong analytical and math skills
- Proven to have accurate keyboard/calculator and professional phone skills
- Formulates decisions related to credit and collateral
- Trains on additional loan products and designations as directed by management
- Entry of statistical information and computing of premiums is required for all commercial lines of business using Company Rating systems to generate a legal contract for the insured
- Decide which files to refer back to the underwriter to review
- Handle overflow of incoming calls and assist when possible
- The primary goal is to produce quality technical assistance to insureds, agents and coworkers and to meet service standards
- Detailed understanding of credit underwriting systems Equifax, Experian, Call Credit, Transact SM
- Insurance qualifications is an advantage
- Underwriting and/or working experience in hospital is an advantage
- For office requirements
- High School Diploma or Equivalent and No prior experience required in the Clerical Support or Data Entry area
- Previous experience working within the Insurance Industry