Many employers also prefer candidates with previous insurance or underwriting experience, though on-the-job training is commonly provided.
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.
The assistant also prepares or pulls reports for underwriters for use in the review of insurance policies and insurance decisions. Under the guidance of underwriters and supervisors, they may analyze applications and screen applicants based on certain criteria.
They may answer questions concerning a policy status or billing error on behalf of an underwriter or agent. Since underwriter assistants work closely with underwriters and insurance agents, they should be comfortable working in a team environment. Some underwriter assistants work in a fast-paced atmosphere, especially for large insurance companies.
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.
Underwriter assistants also must be detail-oriented, especially when helping underwriters determine the risk for providing insurance to a client.
The underwriting assistant supports underwriters in the process of receiving, reviewing, documenting and servicing insurance solutions.
They tend to work full-time hours in an office environment. Assistants typically respond to basic inquiries from brokers, agents and customers about policies, terms, application statuses and billing.
When an agent or broker receives an application from a prospective individual, group or business customer, he submits it to the underwriting department where risks are assessed and insurance product is created. 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.
Background Requirements Typically, a two or four-year degree in business, finance or a related field gives the assistant an advantage. Renewals are important to the long-term success of the insurer. Underwriting assistants also must have knowledge about rating systems and working with different types of insurances, such as auto and health.
Underwriter assistants must be comfortable using computer software programs to determine whether to approve or deny an applicant for insurance coverage. The assistant typically monitors customer renewal dates, and sends out notices and invoices in a timely manner. Underwriting Assistant - Commercial Lines About the Author Neil Kokemuller has been an active business, finance and education writer and content media website developer since Kokemuller has additional professional experience in marketing, retail and small business.
Professional Skills In this field, good communication and technical skills are very important. In, people were employed in the U.
The assistant may also help in gathering research and industry data for use in assessing premiums for new accounts or renewals.
In some cases, the insurer must cancel a policy. The assistant is usually responsible for sending out cancellation notices to customers as well. Ongoing Relationships The assistant also plays a key role in facilitating and managing relationships with customers.
They learn common insurance applications and various risk factors. Bureau of Labor Statistics. Excellent computer skills and organizational abilities are commonly required because of the importance of this role in the job.
Once all items are in place, the assistant enters application information and other documents into a computer system for analysis or review by the underwriter. Main Responsibilities Underwriter assistants provide support to underwriters and independent agents.
Working Environment Underwriter assistants work for a variety of employers including insurance companies, brokerage firms and businesses.
He has been a college marketing professor since However, you can stand out from the crowd by getting experience working in the insurance and underwriting field.Job description for Underwriting Assistant.
Including requirements, responsibilities, statistics, industries, similar jobs and job openings for Underwriting Assistant. The underwriting assistant supports underwriters in the process of receiving, reviewing, documenting and servicing insurance solutions.
File Management A primary responsibility of an underwriter's assistant is to perform much of the upfront legwork in getting an insurance application file ready for review. We’re looking for an Underwriting Assistant to join our team.
We prefer that applicants have at least one year of experience in homeowners insurance underwriting. The job involves supporting the underwriting department by reviewing inspections, investiga.
Underwriting Service Assistant Job Description The term underwriting is generally defined as a process conducted to evaluate a client's eligibility for. Job Descriptions» Healthcare Job Descriptions The minimum educational requirements for an insurance underwriting assistant is a high school diploma or GED.
Insurance underwriting assistants must have good communication skills and must interact with upper management on a regular basis.
"Underwriting Assistant Job. The starting position is an assistant but by no means are we looking for someone complacent with that. In addition to underwriting, the job will require you to.Download