Underwriter

JOB SUMMARY:  

Reporting to the UK and EU Director and with oversight by the Director of Underwriting, the Underwriter performs the essential functions of the position, which includes but is not limited to duties as described below:

ESSENTIAL DUTIES (either independently or under guidance of DOU EU):

1. Sets up and organizes underwriting applications for prospective clients and existing accounts for consideration (new or renewal accounts);
2. Reviews completed application and solicits additional data from insured’s or agents prior to underwriting determinations being made;
3. Prepares quotes, covernotes, policies, mid-term policy change requests and endorsements;
4. Verifies accuracy of brokers’ covernotes, policies & endorsements;
5. Monitors and updates status of applications using Sharepoint and MS Office;
6. Calls brokers to communicate decisions or to request additional information;
7. Reviews property inspection reports for compliance and addresses concerns.
8. Maintains and continuously updates e-files with each policy change;
9. Prepares referrals to carriers, schedules and proposals on renewals or change of conditions;
10. Performs self-audits of account files; verifies accuracy and facilitates corrections, as needed;
11. Request cancellations from the carrier according to company standards;
12. Processes and follows up on cancellations requests to carriers to ensure accurate and timely resolution;
13. Orders and submits loss runs to producers and insured’s; identifies potential problem accounts;
14. Prepares and sends broker agreements;
15. Prepares summaries of insurance, schedules and proposals on renewals and rewrites;
16. Processes all renewals as assigned 60-90 days in advance of expiration in coordination with broker according to company procedures;
17. Reaches out to DOU on any matter that he/she is required to as per company procedures and authority level;
18. Looks for cross selling opportunities, supports in marketing / business development supporting activities
19. Joins the DUO or Business Development Director on broker visits / Teams calls
20. Participate in Teams calls with Management team and/or insurance carriers

REQUIRED ABILITIES :

1. Ability to maintain well documented files;
2. Ability to quickly assess the carrier’s risk appetite for a submission during submission intake correspondence.
3. Follows and assists in the enforcement of all Company policies, procedures and guidelines at all times;
4. Comply with EU and UK laws, FSMA criteria, insurance carrier Underwriting Guidelines and follows and enforces company policies, procedures and work rules equally and consistently;
5. Ability to work and make excellent decisions with supervision during an initial period of 6 to 12 months
6. Ability to manage tight deadlines, organise and prioritise work independently;
7. Strong critical thinking and problem solving abilities;
8. Regular and predictable punctuality and attendance;
9. Focus, accuracy and commitment to company growth aspirations

SKILL AND EDUCATIONAL REQUIREMENTS:

1. University degree preferred.  Minimum of 5 years’ experience in the Insurance Industry.
2. Minimum 1 years’ experience in Underwriting or equivalent role;
3. Ability to manage increased levels of responsibility;
4. Strong knowledge of insurance terminology, concepts and coverage preferred and ability to read analyse and interpret insurance wordings, underwriting guidelines, industry periodicals, technical procedures and governmental regulations;
5. Familiar with Microsoft Office and agency management systems; ability to use the internet and adapt to new software programs and changes in technology;
6. Ability to communicate orally and in writing with others to explain complex issues, receive and interpret complex information;
7. Ability to set priorities and perform multiple tasks simultaneously;
8. Ability to solve practical problems; deal with concrete variables in situations; and to interpret a variety of instructions furnished in written, oral, diagram, or schedule form;
9. Exceptional communication, organisation, analytical and personal leadership skills;