Assist in the development and monitoring of premium rates. Additionally, they must be well organized, pay close attention to detail, skilled at multitasking, and efficient. Assistant underwriters should have extensive knowledge in the financial and credit industries, as well as regulations and laws related to banking, investment, and insurance.
They may answer questions concerning a policy status or billing error on behalf of an underwriter or agent. Bureau of Labor Statistics. Underwriter assistants also must be detail-oriented, especially when helping underwriters determine the risk for providing insurance to a client.
Working Environment Underwriter assistants work for a variety of employers including insurance companies, brokerage firms and businesses. Employers typically prefer at least five years of relevant experience for this position; many also prefer knowledge of the particular type of underwriting performed at the hiring organization.
They tend to work full-time hours in an office environment. They may work in a variety of fields, such as bank underwriting, insurance underwriting, and real estate underwriting.
However, you can stand out from the crowd by getting experience working in the insurance and underwriting field. Work Experience Many underwriter assistants get their feet wet through training programs offered through companies and insurance associations, such as the Insurance Institute of America.
In all fields, assistant underwriters must cultivate good relationships with clients and be able to obtain client information quickly and accurately. Underwriting assistants also must have knowledge about rating systems and working with different types of insurances, such as auto and health.
Since underwriter assistants work closely with underwriters and insurance agents, they should be comfortable working in a team environment. Professional Skills In this field, good communication and technical skills are very important.
In, people were employed in the U. However, they may work overtime, especially to assist underwriters with analyzing a large number of insurance applications. Some underwriter assistants work in a fast-paced atmosphere, especially for large insurance companies.
Underwriter assistants must be comfortable using computer software programs to determine whether to approve or deny an applicant for insurance coverage. Enter, review and maintain accurate records of new policies and renewals. They learn common insurance applications and various risk factors.
Depending on the size of the company, underwriter assistants may ensure that policy transactions such as renewals or quotes are issued and changes are recorded correctly. Main Responsibilities Underwriter assistants provide support to underwriters and independent agents.
Depending on the size of the company, some underwriter assistants may work in an office focusing on particular types of insurance, such as commercial or life insurance.
Under the guidance of underwriters and supervisors, they may analyze applications and screen applicants based on certain criteria. Assist business development of new business opportunities with sales and marketing efforts. Assistant underwriters typically work as a subordinate to an underwriter and work in an office environment during regular business hours, although travel may occasionally be required for risk assessment.Underwriting Assistants.
Underwriting assistants work with insurance underwriters, carrying out clerical tasks. Whenever policy changes lead to changes in prices, the assistant is responsible for recalculating customer costs, according to Zurich.
As of Septhe average pay for an Underwriting Assistant in Chicago, IL is $49, annually or $ /hr. 21 Underwriting Assistant jobs available in Chicago, IL on mint-body.com Apply to Associate Product Manager, Project Coordinator, Mortgage Loan Originator and more! If you are looking for a position in the insurance field, consider becoming an underwriter assistant.
According to mint-body.com, underwriters begin their careers as underwriter assistants performing a variety of tasks, such as collecting information on.
Search Underwriting Assistant jobs in Chicago, IL with company ratings & salaries.
open jobs for Underwriting Assistant in Chicago. This position provides key operations and administrative support to assigned underwriting division as required to complete the underwriting process in accordance with established workflows, procedures and other company protocols. This position will partner with Underwriting in all areas in support of the quoting, binding and policy issuance mint-body.com Location:IL.Download