Underwriting Associate
4 weeks ago
The Underwriting Associate plays a crucial role in supporting the underwriter in the decision-making process by assessing and analyzing underwriting applications and forms. This position requires a strong understanding of underwriting guidelines and the ability to evaluate risk factors to ensure compliance.
Key Responsibilities- Provides strategic support to the underwriter by reviewing binder quotes, providing new quotes, rating premium submissions, and assisting in meeting production goals.
- Maintains complete client documentation, accurately records data needed to issue insurance, and follows up as needed for missing information.
- Ensures that quotes and binders are confirmed in writing and policies are issued promptly and accurately in accordance with binding authority guidelines and statutory and regulatory compliance.
- Makes accurate state filings where applicable and ensures accurate tax payment in accordance with state laws.
- Contributes to the success of the underwriting team in mitigating risks and ensures sound insurance policies by providing valuable insights to facilitate informed underwriting decisions.
- Keeps up to date with binding authority underwriting guidelines, best practices, and any change in regulatory or statutory environment.
- Builds underwriting reports and checks for consistency and reviews and handles inspection recommendations and discrepancies as suggested by the Underwriter.
- Communicates with clients and agencies under the managing underwriter's supervision and develops relationships with other underwriters.
- Minimum of 1 year of experience in the Insurance industry or Underwriting is preferred.
- Bachelor's degree required, Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
- Minimum requirements for state P&C and/or surplus line licenses.
- Associate in Insurance Services (AIS) preferred.
Ryan Specialty offers a comprehensive and best-in-class benefits package that helps employees achieve their physical, financial, and emotional well-being goals. This includes paid time off for company holidays, vacation, sick and personal days, paid parental leave, mental health services, and more.
The target salary range for this position is $62,375.00 annually. The wage range considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. Full-time roles are eligible for bonuses and benefits.
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