Binding Operations Coordinator

Ryan Specialty • Philadelphia, PA

9d • $23 - $29

About The Position

The Binding Operations Coordinator is responsible for the binding process of insurance policies, ensuring adherence to underwriting guidelines and regulatory standards. The role includes inputting necessary information into underwriting applications for accurate policy rating, documentation, and issuance. They act as a liaison between underwriters and brokers, responding to inquiries, collecting information for quoting, and providing revised quotes. They also serve as backup for underwriters and underwriting assistants during their absence. What will your job entail? Job Responsibilities:

Requirements

• Minimum of 1 year of work experience in Insurance Industry or Binding Underwriting or related field.
• Bachelor’s degree required; Business Administration, Business Operations and Sales preferred.
• Any other related discipline or commensurate work experience considered.
• Prescribed: Minimum requirements for state P&C and/or surplus line licenses

Nice To Haves

• Certified Insurance Counselor (CIC) (Preferred)

Responsibilities

• Assists the process of binding insurance policies, ensuring accuracy and compliance with binding underwriting guidelines and regulatory requirements.
• Administers underwriting applications with the information necessary to rate, document and issue accurate and compliant policies.
• Assists with new business submission with directions from the Binding Underwriter to prepare and market to carrier.
• Coordinates between Underwriters and brokers by responding to inquiries, works with brokers to obtain information needed to quote, and provides revised quotes as requested.
• Processes and issues policy endorsements, including changes to coverage, limits, or policy terms, ensuring accuracy and timely implementation and tracks cancellation notifications, non-renewal, and renewal solicitation notifications.
• Maintains comprehensive and organized records of all binding transactions and related documentation, including policy details, endorsements, and client information.
• Communicates with clients to collect required information, explains policy terms and conditions, and addresses any questions or concerns related to the binding process.
• Executes the work assigned by underwriters and underwriting assistants when they are out of the office or otherwise unavailable.
• Prepares reports related to policy binding metrics, performance, and compliance, providing insights for process improvement.

Benefits

• In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level