Underwriting Assistant Job at HUB International – 3.3 in Summit, NJ


The Underwriting Assistant will be a team player within the Underwriting Support Unit and will perform tasks that directly support the Property & Casualty Underwriting team. The Underwriting Assistant will have the ability to perform front-to-end activities throughout the life-cycle of renewal and prospect accounts from submission to expiration. The Underwriting Assistant will be engaged in ongoing development of his/her knowledge of commercial insurance related to his/her specialized line of business.

Essential Duties and Responsibilities:
Pre-underwriters and evaluate risk before underwriter is required to review.

Develops initial pricing of risk on behalf of the underwriter.

Develops basic deal structure on behalf of the underwriter.

Develops quotation package and binder package.

Owner and facilitator of the overall administrator of the front-to-end lifecycle of assigned program accounts from binding to expiration.

Manage the workflow of multiple tasks and maintain a detailed understanding of the status of various tasks owned by Underwriters, Brokers and Carriers.

Communicate account status to ensure completion of outstanding subjectivities 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, instructing and maintaining accounts to ensure implementation progress, such as promptly returning phone calls/emails.

Proactively problem-solve to balance and manage client/broker expectations with internal service standards.

Maintain a solid understanding of both coverages and program structure, as well as internal policy coding systems to ensure completeness of contents of Coding/Issuance package prior to handover to Processing Specialist for Coding/Issuance resulting in a high quality policy product.

Liaise with Underwriters, Product Management, Legal and Regulatory as necessary to confirm policy issuance instructions and manuscript wordings, regulatory notices, etc. to effectively instruct the Coding and Issuance Unit.

UA will collaborate closely with Underwriting team related to pre-bind activities while Senior UA will operate independently expect where underwriting authority is required.

Accountable for completeness of contents of Underwriting package prior to handover to Underwriter for risk analysis/risk selection process.

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.

Review submission information prior to underwriter review and assess if there is missing account information. Communicate directly with Brokers of behalf of the Underwriters to collect account and insur3ed information necessary for risk analysis.

Calculate base rating and apply experience modifications as part of Underwriting package completed by Underwriting support Unit for Underwriter review.

Assess when it is necessary modification as part of Underwriting package completed by Underwriting Support Unit for Underwriter review

Rate premium changes for premium bearing change requests and/or provide the proper instructions to Resource Pro colleagues to do so.

Potentially participate in projects where the Unit may be requested to provide Subject Matter Experts related to the Underwriting Support Unit.

Meet regulatory filing and bureau correspondence due dates in line with regulatory and state guidelines.

Utilizing the Middle Office Workflow Management System, ensure accurate and timely input of information critical of the needs of Middle Office management for the purpose of work tracking, productivity and service deliver.

Qualifications and Experience:
The preferred candidate will be self-motivated and well organized, with a proven ability to multi-task in a fast-paced team environment. Good oral & written skills and required. Experience in the Insurance industry as asset. Working knowledge of Microsoft Office products and Applies and or AIM as asset. Flexible and adaptable to changing direction, adjusting priorities and/or work on multiple tasks simultaneously. Knowledge of INSURITY and SIRUS program a plus.

Education Requirements

High school diploma required; College or Associates degree preferred

Join a Winning Team at HUB International

When you join the team at HUB International, you become part of the 5th largest global insurance broker, providing a broad array of property, casualty, risk management, life and health, employee benefits, investment and wealth management products and services. Becoming a part of HUB means that you thrive in an entrepreneurial and fast paced team environment supported by over 12,000 professionals in 450 offices across North America. You will be able to actively contribute to our track record of year over year growth fueled by innovative new products and services, mergers and acquisitions, and a great team of people. As part of our talent engine, you will exemplify our strong core values which drive our unique corporate culture. HUB’s entrepreneurial spirit is evident in our people, products and philanthropic initiatives and we are passionate about our talent!

Department Underwriting

Required Experience: 1-2 years of relevant experience

Required Travel: No Travel Required

Required Education: High school or equivalent

HUB International Limited is an equal opportunity and affirmative action employer that does not discriminate on the basis of race/ethnicity, national origin, religion, age, color, sex, sexual orientation, gender identity, disability or veteran’s status, or any other characteristic protected by local, state or federal laws, rules or regulations. The EEO is the Law poster and its supplement is available here at http://www.dol.gov/ofccp/regs/compliance/posters/ofccpost.htm .

EEOAA Policy at https://hubinternational.jobs/eeo/

E-Verify Program at https://hubinternational.jobs/e-verify/

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About the Company

Company: HUB International – 3.3

Company Location:  Summit, NJ

Estimated Salary:

About HUB International - 3.3