Underwriting Assistant

Ryan Specialty•Chicago, IL

17d•$21 - $26•Hybrid

About The Position

Velocity Risk is seeking an early-career insurance professional to join its Property Underwriting team in Chicago. The role is suited to an Underwriting Assistant seeking to develop toward underwriting, a recent college graduate interested in commercial property insurance, or an early-career underwriter with approximately 1–2 years of property underwriting experience. The Underwriting Assistant works with experienced underwriters to evaluate property risks and support new and renewal business. Responsibilities include preparing accounts for underwriting review and developing knowledge of risk selection, pricing, coverage, and the company’s underwriting appetite. The role provides hands-on exposure to the underwriting process, with opportunities to take on increasing underwriting responsibility as knowledge and experience grow. The position follows a hybrid schedule and requires regular in-office presence at the Wacker Drive office in downtown Chicago.

Requirements

A bachelor’s degree in Risk Management & Insurance, Finance, Business, Economics, or a related discipline is preferred; equivalent relevant insurance experience will also be considered.
Candidates may be Underwriting Assistants or other insurance professionals interested in developing into underwriting; recent graduates with relevant coursework, internships, or demonstrated interest in commercial insurance; or Underwriter Trainees / Underwriter I candidates with approximately 1–2 years of commercial property underwriting experience.
Interest in developing technical expertise in commercial property underwriting and building a long-term underwriting career.
Strong analytical skills and comfort working with detailed exposure, financial, and risk information.
Strong written and verbal communication skills and ability to build relationships with brokers and internal partners.
Detail-oriented and organized, with the ability to manage multiple submissions and priorities in a fast-paced environment.
Ability to obtain any applicable P&C and/or surplus lines licensing required for the role.

Nice To Haves

Prior exposure to commercial property insurance, underwriting, brokerage, or another P&C insurance environment; not required for recent graduates.
Insurance coursework or professional designations such as CPCU or AU.

Responsibilities

Support evaluation of new and renewal property submissions, ensuring underwriting information is complete, current, and accurate.
Review submission information and exposure data to identify key risk characteristics and prepare accounts for underwriting review.
Assist underwriters with risk selection, pricing, quoting, binding, endorsements, renewals, and policy issuance.
Gather and organize information from brokers and other business partners to evaluate and process submissions.
Develop an understanding of property underwriting appetite, guidelines, coverage forms, pricing considerations, and risk-selection criteria.
Assist with premium calculations and apply rates in accordance with underwriting guidelines and authority.
Maintain accurate underwriting files, documentation, and system information throughout the account lifecycle.
Communicate with brokers and business partners about submissions, outstanding information, policy documentation, and general underwriting inquiries.
Build strong relationships with brokers and internal partners by providing responsive, solutions-oriented service.
Monitor underwriting activity and assist with reporting, portfolio information, and other underwriting metrics as needed.
Support audit, compliance, and documentation requirements and ensure underwriting activities follow established policies and guidelines.
Partner with experienced underwriters and participate in training and development opportunities to build technical underwriting knowledge.
Take on increasing responsibility for risk evaluation and underwriting decisions as experience, technical knowledge, and underwriting authority develop.