About the Underwriting Associate role
The Underwriting Associate will play a key role in supporting the underwriting process, ensuring the accuracy and efficiency of evaluating insurance applications and risks. This individual will work closely with the underwriting team, utilizing analytical skills, attention to detail, and industry knowledge to contribute to the overall success of our underwriting operations.
What you will do:
- Review insurance applications and related documents to assess risk factors.
- Analyze financial statements, credit reports, and other relevant data to determine the level of risk associated with each application.
- Ensure that all required documentation is complete, accurate, and compliant with underwriting guidelines.
- Ensure timely preparation of renewal notices, dispatch, and follow-ups.
- Collaborate with team members to manage the renewal process efficiently.
- Perform business processing through DMVIC to ensure accurate and streamlined underwriting procedures.
- Collaborate with brokers and clients to obtain any missing or additional information needed for the underwriting process.
- Communicate effectively with internal teams, brokers, and clients to clarify information and address inquiries related to underwriting decisions.
- Provide support to underwriters in preparing reports and summaries for management review.
- Utilize data analysis tools and techniques to assess trends and identify potential risk factors.
- Assist in the development of underwriting models and methodologies to enhance the efficiency of the underwriting process.
- Ensure compliance with regulatory requirements and internal policies.
- Stay informed about industry trends, market conditions, and changes in regulations affecting underwriting practices.
- Collaborate with underwriters, actuaries, and other stakeholders to ensure a comprehensive understanding of the underwriting process and goals.
Note:
This job description outlines primary responsibilities and reflects the proactive approach expected from team members. Additional duties may be assigned as required to meet organizational needs.
Requirements for the role
- Bachelor's degree in Finance, Business Administration, or a related field.
- Previous experience in underwriting or a related field is preferred.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills.
- Detail-oriented with a high level of accuracy.
- Ability to work effectively in a collaborative team environment.
- Knowledge of insurance products, industry regulations, and market trends.
- Proficiency in MS Office applications.