Underwriting Assistant

Canopius; New York (NY); On-site; USD 55,000 - 70,000; Full time

Job summary

Canopius in New York is seeking an Underwriting Assistant to support underwriting and the policy lifecycle end-to-end. You will work with brokers, underwriters and other teams to ensure accurate data, timely servicing and compliant transactions across new business, renewals and policy servicing.

Key duties include submitting, triage, quotes, endorsements, invoicing and document control, while maintaining up-to-date electronic files. The role requires strong organization and insurance exposure.

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.
• Prior insurance exposure required.

Responsibilities

• Submission clearance for new business.
• Follow up on information needed from brokers.
• Initiate sanctions check if required and elevate to underwriter if there is a hit.
• Perform pre-analysis (triage) support based on predefined underwriting rules and/or guidelines.
• Evaluate submissions to determine completeness and communicate outstanding items to underwriters.
• Prepare quote letters and binders; process transactions in the policy administration system.
• Obtain surplus lines producer licensing information for non-admitted business.
• Maintain electronic underwriting files across accounts per internal standards.
• Issue policies and reinsurance certificates for local foreign policies (D&F Property).
• Follow up for renewal information and information needed from brokers.
• Prepare renewals, endorsements and cancellations; manage related servicing tasks.
• Process premium invoicing, collections and adjust discrepancies with Premium Accounting.
• Participate in testing and projects as assigned.

Skills

Organizational skills

Multi-tasking

Underwriting support

Attention to detail

Communication skills

Problem solving

Microsoft O365

Under pressure

Independent work

Insurance exposure

Tools

Policy administration system

Microsoft 365 tools

Job description

The Role

The Underwriting Assistant role supports the underwriting process and policy lifecycle end-to-end. This includes, but is not limited to, 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 is responsible for ensuring that business is processed correctly and timely.

Responsibilities

New Business Support

• Submission clearance.

• Follow up on information needed from brokers.

• Initiate sanctions check if required and elevate 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).

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).

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.

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

• 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: $55,000 - $70,000