Underwriting Audit Specialist

Philadelphia Insurance Companies•Bala Cynwyd, PA

13d•$70,000 - $78,000•Hybrid

About The Position

Philadelphia Insurance Companies, a member of the Tokio Marine Group, is expanding its Compliance team with Nationwide consideration for an Underwriting Audit Specialist. This role is responsible for performing property and casualty policy audits to ensure compliance with state regulations and company policies. The position involves conducting audits on new and renewal policies, assessing risk selection quality, adherence to guidelines, rating accuracy, data integrity, and regulatory compliance. It also includes data analysis to identify causal factors, developing action plans, and collaborating with Underwriting management on implementing recommendations, developing guidelines, and creating training programs.

Requirements

At least 3+ years’ underwriting experience with a commercial insurance carrier.
Bachelor's Degree and/or equivalent work experience.
Knowledge and understanding of state laws and regulations regarding insurance.
Ability to gather and interpret information to develop, recommend and implement solutions.
Detail oriented with excellent organizational and planning skills.
Ability to work independently and with a team.
Excellent communication and interpersonal skills.

Responsibilities

Perform property and casualty policy audits to ensure compliance with state regulations and company policies.
Conduct audits on new and renewal property and casualty policies for a wide variety of niche products, as well as ad-hoc big data analytics.
Assess the quality of risk selection, adherence to established underwriting guidelines and procedures, rating accuracy, data integrity, and regulatory compliance.
Compile and distribute audit results and review them with Underwriting management.
Analyze data to identify causal factors and develop action plans for the corresponding business unit.
Collaborate with Underwriting management in the implementation of recommendations, including the development of new or revised guidelines/processes, technological enhancements, and training.
Develop training programs, including preparation of training materials and conducting training.