Underwriting Assistant 2

vavemga; New York (NY); On-site; USD 65,000 - 75,000; Full time

Job summary

Canopius is hiring an Underwriting Assistant II in New York to support the underwriting process and policy lifecycle end-to-end. The role involves providing technical support to underwriters and assistants, handling new business and renewal submissions, and coordinating with brokers to gather information.

The candidate will manage file integrity in policy administration systems, prepare quotes, endorsements, and pricing, and liaise with Premium Accounting for invoicing and collections.

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.

Responsibilities

• New Business Support: Submission clearance; follow up on broker information; sanctions checks if required.
• Perform pre-analysis against underwriting rules; document items for underwriter review.
• Prepare quote letters; manage catastrophe modelling if needed; prepare binder documents.
• Process transactions in policy administration system; obtain licensing information.
• Maintain accurate underwriting files; issue policies and reinsurance certificates.
• Book Facultative Reinsurance premium; set up pricing in pricing tools.
• Renewal Business Support: follow up for renewal information; obtain loss data.
• Premium Invoicing: generate invoices; liaise with Premium Accounting to resolve disputes.
• Policy Servicing: issue endorsements, process cancellations, and broker of record changes.
• Testing and Projects: onboarding, QA for new hires, contribute to system testing and projects.

Skills

Organizational skills

Multi-tasking

Working under pressure

Critical thinking

Communication skills

Attention to detail

Sense of urgency

Problem-solving

Microsoft O365

Insurance exposure

Tools

Kalepa

Origami Risk

Job description

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 escape 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