Underwriting Assistant - Personal Lines

RT Specialty, LLC; Village of Williamsville (NY); On-site; USD 28,000 - 36,000; Full time

Benefits offered by this job

Bonuses

Benefits

Job summary

RT Specialty, a division of Ryan Specialty, is a leading wholesale distributor of specialty insurance products and services. The Underwriting Assistant supports the binding process, ensuring adherence to underwriting guidelines and regulatory standards, and acts as a liaison between underwriters and brokers.

The role handles inputting information for applications, quoting, and issuance, and serves as backup for underwriters during absences.

Qualifications

• Minimum of 6 months of work experience in Insurance Industry or Binding Underwriting or related field.
• Preferred: State P&C and/or surplus line licenses
• Preferred: CIC certification (Preferred)

Responsibilities

• Assists the process of binding insurance policies, ensuring accuracy and compliance with binding underwriting guidelines and regulatory requirements.
• Administers underwriting applications with the information necessary to rate, document and issue accurate and compliant policies.
• Assists with new business submission with directions from the Binding Underwriter to prepare and market to carrier.
• Coordinates between Underwriters and brokers by responding to inquiries, works with brokers to obtain information needed to quote, and provides revised quotes as requested.
• Processes and issues policy endorsements, including changes to coverage, limits, or policy terms, ensuring accuracy and timely implementation and tracks cancellation notifications, non-renewal, and renewal solicitation notifications.
• Maintains comprehensive and organized records of all binding transactions and related documentation, including policy details, endorsements, and client information.
• Communicates with clients to collect required information, explains policy terms and conditions, and addresses any questions or concerns related to the binding process.
• Executes the work assigned by underwriters and underwriting assistants when they are out of the office or otherwise unavailable.
• Prepares reports related to policy binding metrics, performance, and compliance, providing insights for process improvement.

Education

State P&C license

Surplus line license

Certified Insurance Counselor (CIC)

Job description

RT Specialty, a division of Ryan Specialty, is a leading wholesale distributor of specialty insurance products and services. Our experienced brokers are specialized in property, casualty, professional lines, transportation and workers' compensation, providing creative solutions to retail brokerage firms. We define ourselves through our superior execution on behalf of our clients, which has established us as a leader in the industry.

Position Summary

The Underwriting Assistant is responsible for the binding process of insurance policies, ensuring adherence to underwriting guidelines and regulatory standards. The role includes inputting necessary information into underwriting applications for accurate policy rating, documentation, and issuance. They act as a liaison between underwriters and brokers, responding to inquiries, collecting information for quoting, and providing revised quotes. They also serve as backup for underwriters and underwriting assistants during their absence.

Job Responsibilities

• Assists the process of binding insurance policies, ensuring accuracy and compliance with binding underwriting guidelines and regulatory requirements.
• Administers underwriting applications with the information necessary to rate, document and issue accurate and compliant policies.
• Assists with new business submission with directions from the Binding Underwriter to prepare and market to carrier.
• Coordinates between Underwriters and brokers by responding to inquiries, works with brokers to obtain information needed to quote, and provides revised quotes as requested.
• Processes and issues policy endorsements, including changes to coverage, limits, or policy terms, ensuring accuracy and timely implementation and tracks cancellation notifications, non-renewal, and renewal solicitation notifications.
• Maintains comprehensive and organized records of all binding transactions and related documentation, including policy details, endorsements, and client information.
• Communicates with clients to collect required information, explains policy terms and conditions, and addresses any questions or concerns related to the binding process.
• Executes the work assigned by underwriters and underwriting assistants when they are out of the office or otherwise unavailable.
• Prepares reports related to policy binding metrics, performance, and compliance, providing insights for process improvement.

Work Experience

• Minimum of 6 months of work experience in Insurance Industry or Binding Underwriting or related field.

Licenses & Certifications

• Preferred: Minimum requirements for state P&C and/or surplus line licenses
• Preferred: Certified Insurance Counselor (CIC) (Preferred)

Equal Opportunity Employer

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them - and their family members - achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target hourly rate range for this position is $20.00 - $26.00 per hour.

The pay range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future.

Full-time roles are eligible for bonuses and benefits.

For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [e-mail]

Agency Policy

Ryan Specialty, LLC and its affiliates (Ryan Specialty) do not accept unsolicited resumes or candidate profiles submitted by any staffing agencies, placement services or professional recruiters (Agencies), including any submissions made through our website or to email accounts of Ryan Specialty employees. Agencies must be registered in Ryan Specialty's agency portal and have a fully executed contract for service between Ryan Specialty and the Agency. Agency fee agreements will only be valid if provided in such fully executed contract between the Agency. Any unsolicited resume or candidate profile received from an Agency without prior approval from Ryan Specialty's HR department and in compliance with Ryan Specialty's candidate submission process shall be considered unsolicited, gratuitous and property of Ryan Specialty for recruiting purposes and, as such, is not subject to payment of any Agency fees.