Job Description
The Underwriting Assistant provides support to underwriters and other insurance professionals in the underwriting process. The role is responsible for gathering and analyzing information related to insurance applications, policy renewals, and endorsements. The role works closely with underwriters, providing administrative support and helping to ensure that all applications are processed accurately and efficiently. The role obtains information from agents and customers, prepares information for collaborations and renewal meetings, processes necessary new business quotes & quote revisions and coordinates policy issuance. The role may also be responsible for communicating with brokers and other stakeholders to gather additional information and answering questions related to policies and applications.
Responsibilities
Reviews individual accounts for exposure identification and acceptability of risk in accordance with company guidelines and standards. Sets up new business, renewal business applications for quoting, coordinates timely quote turnaround and reviews quote for accuracy. Supports renewals by ordering and analyzing reports, gathering information, and providing a checklist of what the underwriter needs to address at renewal. Coordinates renewal file information with the appropriate renewal underwriters and examiners. Verifies and validates data accuracy on submitted applications and documents, such as applicant information, policy information, and financial documents, to ensure that all required data is complete and accurate. Collaborates with the underwriting team to develop risk assessment strategies and protocols, which may include conducting market research, analyzing historical data, and identifying emerging risks. Prepares reports and presentations on underwriting processes, trends, and metrics for management and clients, which may include analyzing data and presenting findings in a clear and concise manner. Assists in the review and development of policy language and coverage requirements, analyzes market trends and identifies potential risks and opportunities. Facilitates communication between underwriters, brokers, agents, and policyholders to resolve issues and ensure timely processing of applications. Maintains and updates underwriting databases and systems to ensure data accuracy and accessibility, which may involve troubleshooting and resolving technical issues. Maintains an operating knowledge of Westfield Group standardized hardware, software programs, third-party software (MS Office), and processing procedures. Supports special projects and initiatives related to underwriting process improvement and automation, helps provide training and support to new underwriting assistants that are hired. Keeps current on issues and regulations, industry activity and trends, internal processes, and procedures, and shares this information with team members.
Qualifications
2 years of experience in Insurance Underwriting. High School Diploma or General Education Diploma (GED) and/or commensurate work experience.