What are the responsibilities and job description for the Assistant Underwriter - Commercial Lines position at Oklahoma Farm Bureau Insurance?
Primary Purpose : Reviews insurance applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing by performing the following duties.
Job Type : Full-time
Salary : From $40,000.00 per year
Benefits :Essential Duties and Responsibilities include the following. Other duties may be assigned.
1. Examines documents such as application forms, inspection reports, insurance maps, and past claims to determine degree of risk from such factors as applicant financial standing, loss experience, and value and condition of property, and vehicles per company guidelines and authority level; Escalates work items that do not meet authority level to a Senior Underwriter.
2. Determines whether to accept, modify, or decline risks.
3. Interpret premium classes and apply rating structure to achieve proper premiums for loss exposures.
4. Processes all rewrites, reinstatements and other work items per company guidelines and authority level.
5. Continually review all policies, applications, and change requests to determine that proper premiums and classifications are maintained.
6. Review company records to determine amount of insurance in force on single risk or group of closely related risks and evaluates possibility of losses due to catastrophe or excessive insurance.
7. Communicate (via primarily through email but may communicate through correspondence, telephone, or personal visit) with agents, insureds, company personnel, and other insurance or inspection companies to obtain further information, quote rates, or explain company underwriting policies.
8. Counsel with agents regarding desirable and undesirable risks.
9. Monitor loss ratios and strive for improvement by communicating / coordinating managers and supervisors, agents, adjusters, etc. concerning the selection of business and the improvement of Agents and / or underwriting quality.
10. Report any unusual problems or conflicts encountered in the course of performing underwriting duties to the Personal Lines Underwriting Manager; submit any information or reports that may be requested by upper management.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and / or Experience
Bachelor's degree (B. A.) from four-year college or university; and / or completion of the Insurance Institute of America Certificate in General Insurance; or equivalent combination of education and experience. Previous underwriting experience preferred.
Worker is expected to participate in continuing education program( s) if needed.
For a complete job description, please visit the career page at www.okfbinsurance.com
Physical setting :Schedule :
- 8 hour shift
- Day shift
- Monday to Friday
- Bachelor's (Preferred)
- Insurance : 2 year (Preferred)
- Underwriting : 1 year (Preferred)
Education :
Experience :
Work Location : In person
WE ARE AN EQUAL OPPORTUNITY EMPLOYER
Oklahoma Farm Bureau & Affiliated Companies does not discriminate on the basis of race, color, religion, national origin, sex, age or disability. It is our intention that all qualified applicants are given equal opportunity and that selection decisions be based on job-related factors.
Salary : $40,000
