Underwriter Assistant Job Description
Underwriter Assistant Duties & Responsibilities
To write an effective underwriter assistant job description, begin by listing detailed duties, responsibilities and expectations. We have included underwriter assistant job description templates that you can modify and use.
Sample responsibilities for this position include:
Underwriter Assistant Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Underwriter Assistant
Typically a job would require a certain level of education.
Employers hiring for the underwriter assistant job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Education, Business, Finance, Economics, Graduate, Accounting, Business Administration/Management, Business/Administration, Statistics, Mathematics
Skills for Underwriter Assistant
Desired skills for underwriter assistant include:
Desired experience for underwriter assistant includes:
Underwriter Assistant Examples
Underwriter Assistant Job Description
- Complete project work as assigned by underwriter
- Manage relationships with retail agents
- Respond to requests for coverage on a timely basis
- Train and supervise assistant underwriters- Not required for this role
- Work closely with (companies) to write new and renew business
- The role requires individuals of Graduate certification, preferably with proven experience in finance or accounting disciplines
- Minimum 3 years’ related experience within the insurance sector
- Able to organise self (and others if applicable) including effective scheduling, prioritisation and time management skills, completing tasks to tight deadlines
- Support the implementation of the team strategy to enable delivery of overall business targets
- Ensure the team’s awareness of the business plan to be able to make decisions appropriately
- Or Engineering Graduate with a first job experience
- Producing documentation within company guidelines
- A minimum of 2 years in insurance, ideally with some underwriting experience
- Great opportunity for someone looking to get into the insurance industry - no underwriting experience is required though other relevant professional experience is desirable
- Support senior colleagues in delivering profitable growth of the UK Regions CI account
- Progress towards responsibility for individual renewal and new business performance
Underwriter Assistant Job Description
- Renewal preparatory work
- Processing of Auto-Renewals
- Non-renewal and conditional renewal preparatory review and work order set up
- Follow up with agents for renewal information or additional information as needed
- Issuing policies including sending policy to agent and setting up for system issuance
- Follow up with agents for renewal and new business bind orders
- Verify that all necessary documentation is in file
- Handle loss run requests
- First point of contact for mid-term endorsement requests, general questions, billing questions and service issues
- Act as liaison between underwriters, agents and process support
- Attention to detail and has sound judgment
- Personal Lines Insurance experience in underwriting and/or brokerage support with excess & surplus lines preferred
- Minimum 3 years Commercial underwriting assistant work or similar related background
- Insurance industry experience with specialized knowledge of commercial Insurance a plus
- High School Graduate or GED as minimum education requirements
- Must be able to meet deadlines and work in a fast paced atmosphere
Underwriter Assistant Job Description
- Carry out project work in relation to new product developments and system enhancements
- Assist with the maintenance esure’s policy booklets to ensure the information is current and accurate
- Review competitor products and prices to provide accurate information for reporting purposes and make recommendations based on learning’s to enhance our customers’ experience of our products
- Initiation of process efficiencies where possible
- Support underwriters with new business and renewals
- Relationship development with brokers
- Reviewing submissions including applications, policy wording, inspection reports, loss runs, and financial reports while conducting appropriate research to determine degree of risk for each account
- Calculating appropriate risk premium using our Pricing tools and underwriting under guidance within limits specified by your Underwriting Manager
- Where granted, you must operate within your defined authority level which will be commensurate with your skills and knowledge
- Preparing reports as may be required by the Underwriting Manager/Senior Underwriting team
- Analyzes input/outputs for reasonability (e.g., manual rates, benefit revisions, recorded claims, premiums, reserves, ECS charges, account structure)
- Work as the assistant underwriter, in conjunction with the underwriter and senior underwriter, on one of the largest clients within the Major Risks portfolio
- Implement the London Casualty Major Risks strategy & processes in line with the Major Risks Vision and Mission
- Prepare bespoke policy documentation for review by Senior Major Risk Underwriters
- Produce accurate and timely management information for senior management
- Maintain focus on industry practices, developments and pricin
Underwriter Assistant Job Description
- For those products for which you have the appropriate skills, determining the terms and conditions on which a risk may be written or renewed in accordance with XLC’s underwriting guidelines, calculating appropriate risk premium using our Pricing tools and operating within the authority granted to you by your Underwriting Manager
- You will learn other products during this appointment enabling you to widen your underwriting authority as your experience grows and you demonstrate the competence confidence to exercise it
- Learn about portfolio management and preparing monthly reports to support senior underwriters in this activity
- Learn and increasingly understand the strategy and financial targets of XL Catlin Insurance and those applicable to the business unit
- Perform post underwriting duties for all new business that is consistent with the documented procedures
- Additional duties and projected as assigned
- Screen renewal applications and send out renewal letters
- Bachelor Degree graduate with related disciplines
- 3-5 years general insurance market experience, preferably with relevant class of business in multinational environment
- Candidate with less experience will be considered as an Assistant Underwriter
- Up-to-date appreciation of the technical requirements of the role an understanding of rating models
- Ideally ACII qualified or working towards (or equivalent)
- The oversight of accurate and appropriate data capture and management on company systems (including aggregation and benchmarking databases)
- Creation and presentation to underwriters of rating models
- Statistical analysis and interpretation of data
- Graduate level qualification would be an advantage
Underwriter Assistant Job Description
- Prepare quotes and binders
- Draft policy wordings in preparation for policy issuance
- Perform other ad hoc duties as required
- Manages account documentation (i.e., proposals, underwriting files, pricing documentation, policy changes, cancellations)
- Communicates with brokers/agencies, MGAs, and internal departments
- Granted limited Underwriting authority
- Quotes new and renewal business
- Responsible for underwriting and pricing certain assigned new business and renewal accounts in accordance with ICAT’s underwriting standards, personal underwriting authority level, and ICAT’s General Agency Agreements (GAA)
- Prepares and processes standard endorsements, completes templates to prepare manuscript endorsements for underwriter approval when appropriate
- Demonstrates proficient understanding of ICAT/s.4242 Underwriting Guidelines and has an emerging understanding of technical underwriting principles and risk characteristics
- The role requires a motivated and committed candidate
- Good knowledge of relevant underwriting systems
- Strong knowledge of legal and regulatory requirements in Malaysia
- Articulate and literate – the role will require taking information from regions and form wording for UW documentation
- Health Insurance knowledge is not essential but an Insurance minded background is with emphasis on back office functions
- You’re a go-getter.You are resourceful in getting the required information to get the job done