MAXIMIZE your opportunity
The Underwriting Assistant will be a team player within the Underwriting Support Unit of the Construction Division and will perform tasks that directly support the Underwriting team. As owner and principal facilitator of assigned accounts, the Underwriting Assistant will perform front-to-end activities throughout the life-cycle of renewal and prospect accounts from submission to expiration. These tasks will be performed with guidance from the Underwriter. The Underwriting Assistant will be engaged in ongoing development of his/her knowledge of commercial insurance related to his/her specialized line of business.
What will your essential responsibilities include?
UA will be expected to perform all of the following duties and responsibilities based on the requirements of the BU/LOB that he/she supports and with assistance from the underwriter where needed as part of his/her development:
- Pre-underwrites, evaluates risk, and assesses completeness of the underwriting package before Underwriter is required to review. Communicate directly with Brokers on behalf of the Underwriters to collect account and insured information necessary for risk analysis and quote completion.
- Perform and apply knowledge of line of business specific product underwriting rules and/or guidelines for pre-analysis support of submission in preparation of further analysis for quoting stage.
- Attend broker meetings and renewal meetings to build relationships with brokers and promote the “XLC Team”.
- Triage new business in collaboration with the UW for business appetite and exceptions
- Develops initial pricing, basic coverage structuring, quotation, and binder packages of the risk on behalf of the Underwriter.
- Manage the workflow of multiple tasks and maintain a detailed understanding of the status of various tasks owned by Underwriters, Brokers, Reinsurers, XL internal network, and Fronting Partners around the world.
- Communicate account status to ensure completion of outstanding subjectivities needed to execute policy issuance and premium collection as part of bound accounts.
- Collaborate and correspond verbally and in written format with internal and external contacts across the world, keeping in mind differences in local language, time zones, good local standard, to achieve a high level of service and meet client expectations.
- Exhibit a customer service mindset by proactively engaging with the UW and internal and external contacts, instructing and maintaining accounts to ensure implementation progress, such as promptly returning phone calls/emails.
- Collaborate with Enterprise Shared Services in order to coordinate endorsement requests and complete workbook entries.
- Proactively problem-solve to balance and manage client/broker expectations with internal service standards.
- Maintain a solid understanding of coverages and program structure, as well as internal policy coding systems to ensure completeness of contents of Coding/Issuance package prior to handover to the Coding/Issuance unit, resulting in a high quality policy product.
- Execute the bound reinsurance placement by coordinating with credit control and the reinsurance team to ensure that premiums are invoiced, collected and ceded to the appropriate parties according to the agreed amounts and various time due dates.
- Collaborate closely with Underwriters, Product Management, Legal and Regulatory as necessary to perform pre-bind activities and to confirm policy issuance instructions and manuscript wordings, regulatory notices, certificates, etc. to effectively instruct the Coding and Issuance Unit.
- Request input from Risk Mitigation teams (Risk Control, GAPS, Cat modeling group, etc.) in anticipation of Underwriter’s needs for risk analysis/risk selection.
- Understand Reinsurance placement and provide assistance in putting the Underwriting Package together for the Reinsurance provider at quoting so the Underwriting team can effectively negotiate terms and conditions.
- Assess when it is necessary and perform quality control of rating, coding and issuance output to ensure accuracy of work (e.g. exposure bases, limits, coverage extensions, modifications, data entry).
- Rate premium changes for premium bearing change requests and/or provide the proper instructions to India colleagues to do so.
- Create and maintain electronic file for accounts as required for Sarbanes Oxley and Internal Audit Guidelines.
- Potentially participate in projects where the Unit may be requested to provide Subject Matter Experts related to the Underwriting Support Unit.
- Meet regulatory filings and bureau correspondence due dates in line with regulatory and state guidelines
In this role, you will report directly to the Assistant Operations Manager.
UNLEASH your potential
We’re looking for someone who has these abilities and skills:
- Bachelor’s degree and 1-3 years related insurance experience of Primary Casualty Insurance with mid to large Construction Risk including but not limited to Workers Compensation, General Liability, Auto , Owners Controlled Insurance Program with Commercial Insurance experience and/or training; or equivalent combination of education and experience
- Knowledge of commercial insurance policy forms and regulatory requirements is preferred, but not required
- Excellent written and oral communication skills
- Strong interpersonal skills in order to work effectively and professionally with diverse groups
- Proven organizational and problem solving skills
- Proven prioritization and time management skills with accurate results
- Basic competency in MS Office applications: Word, Outlook, Excel, Internet Explorer and Adobe Standard (or similar PDF conversion tool) required
- Experience with standard office equipment (e.g., phone, copier, fax/eFax, printer, scanner)
- Experience with standard office practices (e.g., data entry, certified mail, task tracking, documentation)
- Knowledge of commercial rating rules and forms for products serviced is preferred, but not required
- Knowledge of regulatory requirements for products serviced is preferred, but not required
- Experience with insurance software (e.g., Policy Decisions, Reference Connect (Sage), ISO Net) Client Service experience a plus
The XL Catlin group of companies is an Equal Opportunity Employer.
Job Field:Underwriting Support