Commercial Lines Assistant Underwriter

Oklahoma Farm Bureau Insurance Company•Oklahoma City, OK

1d•Onsite

About The Position

Reviews insurance applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing. This role involves examining documents, determining risk acceptability, interpreting premium classes, processing policy changes, and communicating with agents and other stakeholders. The position also requires monitoring loss ratios and reporting any unusual problems or conflicts to management.

Requirements

Bachelor's degree (B. A.) from four-year college or university; and/or completion of the Insurance Institute of America Certificate in General Insurance; or equivalent combination of education and experience.
Worker is expected to participate in continuing education program( s) if needed.

Nice To Haves

Previous underwriting experience preferred.
Insurance: 1 year (Preferred)
Underwriting: 1 year (Preferred)

Responsibilities

Examines documents such as application forms, inspection reports, insurance maps, and past claims to determine degree of risk from such factors as applicant financial standing, loss experience, and value and condition of property, and vehicles per company guidelines and authority level; Escalates work items that do not meet authority level to a Senior Underwriter.
Determines whether to accept, modify, or decline risks.
Interpret premium classes and apply rating structure to achieve proper premiums for loss exposures.
Processes all rewrites, reinstatements and other work items per company guidelines and authority level.
Continually review all policies, applications, and change requests to determine that proper premiums and classifications are maintained.
Review company records to determine amount of insurance in force on single risk or group of closely related risks and evaluates possibility of losses due to catastrophe or excessive insurance.
Communicate (via primarily through email but may communicate through correspondence, telephone, or personal visit) with agents, insureds, company personnel, and other insurance or inspection companies to obtain further information, quote rates, or explain company underwriting policies.
Counsel with agents regarding desirable and undesirable risks.
Monitor loss ratios and strive for improvement by communicating/coordinating managers and supervisors, agents, adjusters, etc. concerning the selection of business and the improvement of Agents and/or underwriting quality.
Report any unusual problems or conflicts encountered in the course of performing underwriting duties to the Personal Lines Underwriting Manager; submit any information or reports that may be requested by upper management.