Underwriting Assistant

Canopius • Chicago, IL

9d

About The Position

The Underwriting Assistant role supports the underwriting process and policy lifecycle end-to-end. This includes, but is not limited to, supporting underwriters in the acquisition and retention of business, working directly with brokers to obtain information, fulfil servicing needs and resolve issues and liaising with other functions across Canopius to data, servicing and/or cash flow issues. This role is responsible for ensuring that business is processed correctly and timely.

Requirements

• Excellent organizational skills and the ability to multi-task in a fast-paced environment.
• Ability to work under pressure as part of a small team and self-motivated to work independently.
• Strong critical thinking skills.
• Excellent communication skills, both written and verbal.
• Strong attention to detail and focus on quality/accuracy.
• Ability to work and learn with a sense of urgency in a fast-paced environment.
• Effective problem-solving skills.
• Proficiency with Microsoft O365 tools, including Word, Excel, PowerPoint, Outlook, SharePoint and Teams.
• Basic financial statement knowledge or interest to learn.

Nice To Haves

• Prior insurance exposure helpful but not required.

Responsibilities

• New Business Support: Submission clearance, follow up on information needed from brokers, initiate sanctions check and escalate if required, perform pre-analysis (triage) support, evaluate submissions against prescribed criteria, prepare quote letter, catastrophe modelling (if required), prepare binder document, process transaction in policy administration system, obtain surplus lines producer licensing information, maintain accurate and updated electronic underwriting files, issue policies, issue reinsurance certificates.
• Renewal Business Support: Follow up for information needed from brokers, obtain loss information, perform pre-analysis (triage) support, evaluate submissions against prescribed criteria, prepare quote letter, catastrophe modelling (if required), prepare binder document, process transaction in policy administration system, obtain surplus lines producer licensing information, maintain accurate and updated electronic underwriting files, issue policies, issue reinsurance certificates.
• Premium Invoicing and Collections: Generate invoice for all premium bearing transactions, work with Premium Accounting to pursue collection for past due premiums, work with Premium Accounting to resolve premium discrepancies.
• Policy Servicing: Issue endorsements for approved policy changes, process cancellations, process transaction in policy administration system, follow up with broker to resolve outstanding subjectivities, support ceded facultative reinsurance transactions/administration, process broker of record transactions, issue policies within SLA timeframe, ensure bound new and renewal policies are booked prior to monthly closing.
• Testing, Subject Matter Expertise and Projects: Participate in testing of system changes/enhancements, participate in projects as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed