Underwriting Assistant

1 week ago

Philadelphia, Pennsylvania, United States Munich Re Specialty Group Full time
Underwriting Assistant

Company
Munich Re Specialty Group

Location
Philadelphia, United States

Underwriting Assistant


We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.


The Company
Munich Re Specialty North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners

Products include:
property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

The Opportunity


As an Underwriting Assistant you will assist underwriters by providing the initial risk assessment support for new and renewal business.

You will also be responsible for delivering timely and accurate risk clearance, account setup, rating, technical underwriting support, policy issuance, and post issuance service for moderate to complex accounts.


Duties will include, but aren't limited to supporting insurance products; reviewing account coverages, losses, and additional data supporting underwriting decisions; collecting and reconciling account level data and accurately and efficiently develop pricing models Property accounts.

Consistent and effective communication to external (brokers/agencies) and internal (underwriters/actuaries, etc.) is essential for successful Underwriting Assistants.

Key Responsibilities of this position include:

  • Support new and renewal underwriting tasks for 1-3 specialty insurance business units by organizing submission information; completing risk clearance, pricing, quoting and binding support to underwriters
  • Review, analyze and input financial and statistical information in appropriate system(s) to provide timely and accurate quote (pricing), policy, endorsement and additional required documentation
  • Interpret data and set up account in appropriate system(s) ensuring accuracy, often working directly with the account underwriter and/or actuarial team members
  • Support policy binding, issuance and service requirements
  • High interaction and coordination with broker agents and internal team members to support underwriting decisions and to obtain and provide information as needed.
  • Recommend process improvements, tool enhancements, testing of system and process changes
  • Act as a mentor and/or coach to peers as necessary
  • Perform quality control checks to ensure data accuracy and maximize the integrity, quality and usability of information
  • Assist team members with and support projects asneeded/assigned

Job Requirements:

  • College degree with emphasis on insurance, business or accounting preferred
  • 13 years insurance company experience with emphasis on analytic functions in underwriting support and/or accounting preferred
  • 13 years' experience supporting/working within a high volume property and/or casualty business unit
  • Position requires familiarity with pricing models and property & casualty insurance processes
  • Intermediate to expert level computer skills
  • Microsoft Excel, Word, PowerPoint, SharePoint, and Outlook
  • Bachelor's degree (or equivalent work experience) in related field
  • Has a proactive and passionate service approach with ability to take ownership and drive issues to resolution
  • Is highly adaptive and able to work effectively in ambiguous and changing environments
  • Is able to work quickly and with mínimal direct oversight
  • Demonstrates the ability to manage competing priorities within a team first, solutions oriented culture
  • Excellent interpersonal, verbal and written communication skills.
  • Actively listens to others to ensure understanding of issues.
  • Dedicated to meeting the expectations and requirements of internal and external customers.
  • High learning agility; proven track record of learning new duties quickly and understanding implications of system input, decisions, etc.


At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us.

Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.

We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.

We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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