Property Underwriting Assistant

Kalepa; New York, Northern (NY, KY); Hybrid; USD 70,000 - 110,000; Full time

Job summary

MSIG USA is seeking a detail-oriented Underwriting Support Specialist to assist with new and renewal accounts under minimal supervision. You will collect data, input financial and statistical information, prepare quotes and binders, and provide reports to underwriters, ensuring accuracy and timeliness in policy production.

You will interact with brokers and internal teams, manage data quality across multiple systems, and support process improvements in underwriting operations while delivering

Qualifications

• 3+ years insurance or reinsurance experience with emphasis on analytic functions in underwriting support, underwriting, and/or accounting.
• Working knowledge of rating and pricing models across all lines of business.
• Strong customer service and data accuracy expectations.

Responsibilities

• Collect and reconcile new and renewal submission information to prepare policy/account files for underwriter review with minimal direction in accordance with company underwriting guidelines and standards.
• Review and analyze account information for necessary underwriting data (exposures, loss information, driver information, financials, loss control reports, etc.).
• Input financial and statistical information into the appropriate system(s) to provide timely and accurate quote (pricing), policy, reinsurance, endorsement processing.
• Maintain various databases to ensure all systems accurately reflect updated account information/documentation in accordance with company underwriting guidelines.
• Interpret data and set up accounts in appropriate system(s) ensuring accuracy, often working directly with the underwriter.
• With minimal guidance from Underwriter produce quotes and binders for new and renewal accounts/policies.
• Complete all aspects of reinsurance tasks per underwriting guidelines with minimal supervision.
• Review and analyze accounts for reinsurance placement, organize information and accurately input data into required system.
• Obtain required underwriting data from client.
• Manage all aspects of the risk account from submission to applicable document issuance.
• Perform quality control checks to ensure data accuracy and maximize the integrity, quality and usability of information.
• Proactively problem solve to meet and exceed client/broker expectations with internal standards.
• Work on identifying process/system improvement concepts, and critical success factors for achieving high results in Operations.
• Provide excellent customer service in a timely and professional manner to internal and external customers including, but not limited to Underwriters; Operations; Agents and Brokers; to facilitate the processing of business with current and prospect accounts.
• Respond to brokers service requests for loss runs, endorsements, etc.; ensuring all appropriate documentation is received; troubleshoot transaction processing issues with the Operations Department.
• Research and assist in resolving inquiries generated from internal and external customers (i.e., policy/account status, rating, and billing issues, etc.).
• Participates in broker/agency visits, loss inspections, etc., per Underwriter’s recommendation.
• Orders and retrieves Risk Engineering reports as necessary based on underwriting criteria.
• Reviews inspection reports and summarizes/highlights key elements based on existing underwriting data; follow-up on recommendations to ensure compliance to MSIG risk management standards.
• Accurately enter data into Cat Modeling Template and submit to Cat Modeling Team.
• Analyze output for both catastrophe management as well as improve underwriting decisions.
• Provide the underwriter with base analysis (i.e., flood zone info, if included).
• With minimal supervision, process, and issue mid-term premium and non-premium bearing endorsement transactions within threshold.
• Refer all material change endorsement requests to appropriate Underwriter for sign-off and approval.
• Properly document all systems/account files within established due dates.
• Ability to effectively manage, organize and prioritize multiple tasks.

Skills

Underwriting support

Analytical skills

Insurance knowledge

Data entry

Education

College degree in Insurance/Business/Accounting

Job description

MSIG USA continues to grow! Company Overview: MSIG USA is the U.S.-based subsidiary of MS & AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers and a global Class 15 insurer, with A+ ratings and a reach that spans 40+ countries and regions. Leveraging our 350-year heritage, MSIG USA brings the financial strength, expertise, and global footprint to offer commercial insurance solutions that address your business’s unique risks.

Job Purpose

Under minimal supervision provide technical underwriting and administrative support for assigned new and renewal accounts. Including but not limited to collecting data, account setup, rating, producing quotes and binders, issuing policies and endorsements. Proactively assist in ensuring the underwriting process is handled efficiently and accurately. Provide Underwriters with required reports and analysis.

• Collect and reconcile new and renewal submission information to prepare policy/account files for underwriter review with minimal direction in accordance with company underwriting guidelines and standards.
• Review and analyze account information for necessary underwriting data (exposures, loss information, driver information, financials, loss control reports, etc.).
• Communicates and follows up with broker for missing information.
• Review, analyze and accurately input financial and statistical information into the appropriate system(s) to provide timely and accurate quote (pricing), policy, reinsurance, endorsement processing.
• Maintain various databases to ensure all systems accurately reflect updated account information/documentation in accordance with company underwriting guidelines.
• Interpret data and set up accounts in appropriate system(s) ensuring accuracy, often working directly with the underwriter.
• With minimal guidance from Underwriter produce quotes and binders for new and renewal accounts/policies (i.e., identify/gather relevant account information to quote and/or bind the policy; identify proper forms and endorsements used for policy construction, etc.).
• Complete all aspects of reinsurance tasks per underwriting guidelines with minimal supervision.
• Review and analyze accounts for reinsurance placement, organize information and accurately input data into required system.
• Obtain required underwriting data from client.
• Manage all aspects of the risk account from submission to applicable document issuance.
• Perform quality control checks to ensure data accuracy and maximize the integrity, quality and usability of information which will minimize discrepancies encountered by other departments.
• Proactively problem solve to meet and exceed client/broker expectations with internal standards.
• Work on identifying process/system improvement concepts, and critical success factors for achieving high results in Operations.
• Provide excellent customer service in a timely and professional manner to internal and external customers including, but not limited to Underwriters; Operations; Agents and Brokers; to facilitate the processing of business with current and prospect accounts.
• Respond to brokers service requests for loss runs, endorsements, etc.; ensuring all appropriate documentation is received (i.e., signed statements of values; signed terrorism rejection forms; obtaining copies of underlying policies for umbrella and excess policies); troubleshoot transaction processing issues with the Operations Department.
• Research and assist in resolving inquiries generated from internal and external customers (i.e., policy/account status, rating, and billing issues, etc.).
• Participates in broker/agency visits, loss inspections, etc., per Underwriter’s recommendation.
• Orders and retrieves Risk Engineering reports as necessary based on underwriting criteria.
• Reviews inspection reports and summarizes/highlights key elements based on existing underwriting data; follow-up on recommendations to ensure compliance to MSIG risk management standards.
• Accurately enter data into Cat Modeling Template and submit to Cat Modeling Team.
• Analyze output for both catastrophe management as well as improve underwriting decisions.
• Provide the underwriter with base analysis (i.e., flood zone info, if included).
• With minimal supervision, process, and issue mid-term premium and non-premium bearing endorsement transactions within threshold.
• Refer all material change endorsement requests to appropriate Underwriter for sign-off and approval.
• Properly document all systems/account files within established due dates.
• Ability to effectively manage, organize and prioritize multiple tasks.

Supervisory Responsibilities: This position has no supervisory responsibilities.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Experience Required

Diploma/Degree & Experience: College Degree with emphasis on insurance, business or accounting preferred. 3+ years insurance or reinsurance company experience with emphasis on analytic functions in underwriting support, underwriting, and/or accounting preferred. Working knowledge of rating and pricing models, insurance, and reinsurance for all lines of business. Understanding of principles and processes for providing excellent customer service. This includes meeting established time and quality standards ensuring internal and external customer satisfaction.

Equal Employment Opportunity Policy

It is the policy of MSIG USA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG USA will provide reasonable accommodations for qualified individuals with disabilities.

Each employee plays an important role which contributes directly to the success and continued growth of MSIG.

Company Background

MSIG Holdings (U.S.A.), Inc. (MSIG) is a wholly owned subsidiary of the MS & AD Insurance Group Holdings, Inc. – one of the top ten property-casualty insurance groups world-wide. Our Group has capital in excess of $25 Billion, operations in more than 40 countries and nearly 40,000 personnel located globally. MSIG in the U.S. is comprised of three insurance companies with licenses in all fifty states as well as Puerto Rico and the District of Columbia. These companies and five other subsidiaries, deliver state of the art risk financing programs, insurance products, risk engineering and claims management services that enable our clients to effectively and efficiently manage their risks. Our insurance companies share the A.M Best’s A+ XV Rating and Standard & Poor’s A+ Rating of our Japan-based parent. Our clientele runs the gamut from small and mid-sized, sole-proprietorships, partnerships and corporations, up to some of the largest and most sophisticated multinational corporations operating in the U.S. and globally. The vast majority of clients seek our support related to Commercial Lines insurance products including Commercial Property and Liability Insurance products. However, through our subsidiary – Seven Hills Insurance Agency, LLC. – we are able to provide Personal Lines Insurance products including homeowners, renters, automobile, etc.

Specialties: All Risk Property, Commercial Liability, Automobile, Workers Compensation, Management Liability, Marine, Excess & Umbrella, Claims Management, Risk Engineering services, etc.

It is an exciting time for our company and a great opportunity to join a financially sound and growing global insurance group!