This job has closed.

MSIG USA · 1 day ago

Underwriting Assistant

Chicago, IL

Full-time

Onsite

Mid Level

$55K/yr - $90K/yr

3+ years exp

MSIG USA is the US-based subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers. The Underwriting Assistant is responsible for supporting the underwriting process for property coverages by providing technical underwriting and administrative support for assigned new and renewal accounts.

FinanceFinancial ServicesInsurance

Responsibilities

Collect and reconcile new and renewal submission information to prepare policy/account files for underwriter review with minimal direction in accordance with company underwriting guidelines and standards

Review and analyze account information for necessary underwriting data (exposures, loss information, driver information, financials, loss control reports, etc.). Communicates and follows up with broker for missing information

Review, analyze and accurately input financial and statistical information into the appropriate system(s) to provide timely and accurate quote (pricing), policy, reinsurance, endorsement processing. Maintain various databases to ensure all systems accurately reflect updated account information/documentation in accordance with company underwriting guidelines

Interpret data and set up accounts in appropriate system(s) ensuring accuracy, often working directly with the underwriter

With minimal guidance from Underwriter produce quotes and binders for new and renewal accounts/policies (i.e., identify/gather relevant account information to quote and/or bind the policy; identify proper forms and endorsements used for policy construction, etc.)

Complete all aspects of reinsurance tasks per underwriting guidelines with minimal supervision

Review and analyze accounts for reinsurance placement, organize information and accurately input data into required system. Obtain required underwriting data from client. Manage all aspects of the risk account from submission to applicable document issuance

Perform quality control checks to ensure data accuracy and maximize the integrity, quality and usability of information which will minimize discrepancies encountered by other departments

Proactively problem solve to meet and exceed client/broker expectations with internal standards. Work on identifying process/system improvement concepts, and critical success factors for achieving high results in Operations

Provide excellent customer service in a timely and professional manner to internal and external customers including, but not limited to Underwriters; Operations; Agents and Brokers; to facilitate the processing of business with current and prospect accounts

Respond to brokers service requests for loss runs, endorsements, etc.; ensuring all appropriate documentation is received (i.e., signed statements of values; signed terrorism rejection forms; obtaining copies of underlying policies for umbrella and excess policies); troubleshoot transaction processing issues with the Operations Department. Research and assist in resolving inquiries generated from internal and external customers (i.e., policy/account status, rating, and billing issues, etc.)

Participates in broker/agency visits, loss inspections, etc., per Underwriter’s recommendation

Orders and retrieves Risk Engineering reports as necessary based on underwriting criteria. Reviews inspection reports and summarizes/highlights key elements based on existing underwriting data; follow-up on recommendations to ensure compliance to MSIG risk management standards

Accurately enter data into Cat Modeling Template and submit to Cat Modeling Team. Analyze output for both catastrophe management as well as improve underwriting decisions. Provide the underwriter with base analysis (i.e., flood zone info, if included)

With minimal supervision, process, and issue mid-term premium and non-premium bearing endorsement transactions within threshold. Refer all material change endorsement requests to appropriate Underwriter for sign-off and approval

Properly document all systems/account files within established due dates. Ability to effectively manage, organize and prioritize multiple tasks

Qualification

Insurance knowledgeAnalytic functionsRatingPricing modelsCustomer serviceData entryOrganizational skillsProblem-solvingCommunication skills

Preferred

College Degree with emphasis on insurance, business or accounting preferred

3+ years insurance or reinsurance company experience with emphasis on analytic functions in underwriting support, underwriting, and/or accounting preferred

Working knowledge of rating and pricing models, insurance, and reinsurance for all lines of business

Understanding of principles and processes for providing excellent customer service