Assistant Underwriter

SUMMARY:

Assistant Underwriter: This position supports the Underwriters and the Underwriting function. Evaluates routine new and existing business applications and supplementary materials to determine the degree of risk, premiums, and insurability according to company policies and guidelines.

Senior Assistant Underwriter: In addition to the job duties which fall under the Assistant Underwriter position, this role exercises a greater degree of independent judgment in evaluating applications for insurance coverage and endorsements with a higher authority level and requires more knowledge and experience in analyzing risk and understanding exposures.

ESSENTIAL DUTIES AND RESPONSIBILITIES The following duties are representative of those required for this position. All of the duties may not be required, and additional duties may be assigned.

Assistant Underwriter:

• Approves applications and changes within the specified scope of authority such as routine new business applications, endorsements, claim reviews, account reviews, lienholder changes, loss score data, address changes, effective and renewal date changes, foreclosures and notes from insured.
• Keeps underwriting knowledge current by participating in educational webinars, courses, conferences, industry study, meetings or other training offered by the Home Office.
• Runs underwriting reports as needed and forwards to Underwriter when exceeds authority level.
• Drafts form letters to insureds to correct policies and/or modify coverages.
• Assists manager and underwriters on problem policies and other policies that require special attention.
• Refers special problems and applications beyond the scope of authority to an Underwriter.

• Handles changes and/or questions in regards to policy equity date and works with Accounting and Claim departments accordingly.
• Clears and tracks policy segments with the ability to clear the “graveyard” and build back policy segments with the requirement of close focus and detail.
• Trains and mentors less experienced personnel in system and policy knowledge.
• Corresponds with agents, customer service representatives, insureds, and mortgagees regarding objective inquires pertaining to rates, rules and guidelines found in the manual and follows up with any needed documentation.
• Provides excellent customer service to all external and internal customers and maintains a good working relationship with field and Home Office personnel.


• Defines and outlines necessary work orders for I.T. implementation for efficiencies and system functionalities.

• Performs other duties as assigned.

Senior Assistant Underwriter:

In addition to the job duties listed above for Assistant Underwriter

• Works with a greater authority level to underwrite routine applications for insurance coverage.
• Ability to exercise a higher level of independent judgment and communicate decisions effectively with supporting documentation.
• Processes more complex endorsements or assists others (e.g., agents, customer service representatives) with changes or modifications as needed.
• Corresponds and leads on various assigned project work with both the ability to work independently and as part of a team.
• Ability to train and mentor Assistant Underwriters and other less experienced personnel.

EDUCATION and/or EXPERIENCE

Assistant Underwriter: Associates Degree and a minimum two years of work experience in a related area, except that additional work experience may be substituted on a year-for-year basis for the formal education requirement.

Senior Assistant Underwriter: Associates Degree and a minimum four years of work experience in a related area, except that additional work experience may be substituted on a year-for-year basis for the formal education requirement. Has a proven ability to perform at the Senior Assistant Underwriter level. Also, preferred is involvement in the Associate in Insurance designation program (AINS) with The Institutes.

QUALIFICATIONS

• Ability to apply manual guidelines and rules to specified types of insurance applications and changes.
• Ability to train and mentor Underwriting Associates and Specialists.
• Ability to read, analyze and interpret instructions and other technical documents.
• Ability to identify issues, collect data, establish facts and draw valid conclusions.
• Ability to handle and process confidential and private information in an appropriate manner.
• Ability to effectively present information in one-on-one and small group situations to management, other departments, customers, agents, and other employees of the organization
• Ability to deal with problems involving several concrete variables in standardized situations.
• Ability to exercise independent judgment and communicate effectively.
• Ability to communicate reduced coverages, higher rates, restrictions and risk declines in a positive manner and with supporting information.
• Ability to identify issues, collect data, establish facts and draw valid conclusions.
• Ability to meet deadlines while dealing with and prioritizing a high volume of work.
• Ability to learn and adapt to continual changes in products, procedures, manuals and personnel.
• Ability to operate a personal computer
• Bilingual (Spanish) capabilities are an asset but not required