Underwriting Assistant 2

The Role

The Underwriting Assistant II role supports the underwriting process and policy lifecycle end-to-end.  In addition to the Underwriting Assistant I responsibilities (e.g. 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 also serves as a subject matter expert providing technical support and direction to Underwriters and Underwriting Assistants. 

Responsibilities

New Business Support

• Submission clearance.

• Follow up on information needed from brokers.

• Initiate sanctions check if required and escalate to underwriter if there is a hit.

• Perform pre-analysis (triage) support based on predefined underwriting rules and/or guidelines.  Evaluates new and renewal submissions against prescribed criteria to determine completeness; documents outstanding items and include them in communication to an underwriter for review. 

• Prepare quote letter.

• Catastrophe modelling (if required).

• Prepare binder document.

• Process transaction in policy administration system.

• Obtain surplus lines producer licensing information for non-admitted business.

• Maintain accurate and updated electronic underwriting files for all accounts in accordance with internal service standards and procedures.

• Issue policies.

• Issue reinsurance certificates for local foreign policies (D&F Property only).

• Book Facultative Reinsurance premium.

• Set up account in Pricing Tool.

Renewal Business Support

• Follow up for information needed from brokers, including but not limited to renewal applications.

• Obtain loss information.

• Perform pre-analysis (triage) support based on predefined underwriting rules and/or guidelines.  Evaluates new and renewal submissions against prescribed criteria to determine completeness; documents outstanding items and include them in communication to an underwriter for review. 

• Prepare quote letter.

• Catastrophe modelling (if required).

• Prepare binder document.

• Process transaction in policy administration system.

• Obtain surplus lines producer licensing information for non-admitted business.

• Maintain accurate and updated electronic underwriting files for all accounts in accordance with internal service standards and procedures.

• Issue policies.

• Issue reinsurance certificates for local foreign policies (D&F Property only).

• Book Facultative Reinsurance premium.

• Set up submission/policy for pricing.

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.

• Laise between UW Ops, Premium Accounting and business partners to resolve billing discrepancies.

Policy Servicing

• Issue endorsements for approved policy changes, including rating additional/return premiums where appropriate.

• Process cancellations (insured request or for nonpayment of premium).

• 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

• Conduct new hire on-boarding/training, including creation and management of the new hire training plan for each new hire.

• Perform quality assurance for new hires as necessary to assess proficiency.

• Assist the Head of Open Market Operations and Operations Team Lead with workload management and prioritization.

• Serve as a technical resource for Underwriters, Underwriting Assistants and Premium Accounting with respect to systems (e.g. Kalepa, Origami Risk) and processes.

• Participate in testing of system changes/enhancements.

• Participate in projects as assigned.

Skills and Qualifications

• 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.

• Prior insurance exposure required.

Salary Range: $65,000 - $74,500

• 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.

• Prior insurance exposure required.

Salary Range: $65,000 - $74,500