Underwriting Assistant Job Description
Underwriting assistant
provides underwriting support to assigned office(s) and product line(s), including processing surety business through complex entry transactions, requiring understanding rating scenarios and financial documents, and producing error free work through strong attention-to-detail.
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:
Accounting for and monitoring trading positions (buy/sell/hold), offering inventory positions, maintaining orders/indications of interest, commission runs and P&L
Updating new issues in IPREO system with relevant information for Competitive/Negotiated deals, generating necessary correspondence, wiring money
Managing MuniBond database with all new issue information and schedule modifications
Operating Bloomberg functions such as DEAL, TW and MSG
Sending invoices to Accounts Payable and maintaining the files
Partnering with Compliance to ensure all deal information is accurately updated for daily distribution of reports to multiple departments
Maintaining various databases and excel spreadsheets
Working with St
Creating and maintaining all files, both hard copy and electronic
Preparing marketing materials for traders
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:
Commercial insurance policy forms and regulatory requirements
Commercial insurance strongly
PCs and software applications
Underwriting guidelines for the transactions within authority limit
Surety Operations Processing policies and procedures acquired through experience in job area
Practices
Request additional documents as needed by local jurisdiction
Through technical training
When to order additional searches
Word
Desired experience for underwriting assistant includes:
Creating and maintaining all files, both hard copy and electronically
1 to 2 years brokerage experience desired
Answer client phone calls that are received within the division and effectively communicate program guidelines to the client answering any questions related to the specific programs
Review, evaluate and approve insurance applications and related documents
Follow up with client or agent on pending information needed for a complete submission following the specific guidelines for the cash with application program
Prepare files for renewal solicitation
Underwriting Assistant Examples
1
Underwriting Assistant Job Description
Job Description Example
Our innovative and growing company is hiring for an underwriting assistant. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for underwriting assistant
- 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
Qualifications for underwriting assistant
- 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
2
Underwriting Assistant Job Description
Job Description Example
Our growing company is hiring for an underwriting assistant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for underwriting assistant
- 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
Qualifications for underwriting assistant
- 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
3
Underwriting Assistant Job Description
Job Description Example
Our company is looking for an underwriting assistant. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for underwriting assistant
- 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
Qualifications for underwriting assistant
- 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
4
Underwriting Assistant Job Description
Job Description Example
Our growing company is hiring for an underwriting assistant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for underwriting assistant
- 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
Qualifications for underwriting assistant
- 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
5
Underwriting Assistant Job Description
Job Description Example
Our company is looking for an underwriting assistant. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for underwriting assistant
- 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
Qualifications for underwriting assistant
- 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