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Underwriting Assistant

Exton, PA

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MAXIMIZE your opportunity Underwriting Assistant We invent the new to help the world move forward. Combining powerful analytics and deeper insights with bigger ideas and innovative solutions, we free up our clientsu2019 potential, thereby fulfilling our own. Take it seriously. Make it fun. Know it matters. The Underwriting Assistant will be a team player within the Underwriting Support Unit of the EO Operational Services Group and will perform tasks that directly support the Environmental Underwriting team as a hybrid for Pollution (US/Canada) and Property & Casualty. As owner and principal facilitator of assigned accounts, the Underwriting Assistant will perform front-to-end activities throughout the life-cycle of renewal and prospect accounts from submission to expiration. These tasks will be performed with guidance from the Underwriter. The Underwriting Assistant will be engaged in ongoing development of his/her knowledge of commercial insurance related to his/her specialized line of business. What will your essential responsibilities include? UA will be expected to perform all of the following duties and responsibilities based on the requirements of the BU/LOB that he/she supports and with assistance from the underwriter where needed as part of his/her development u00b7Pre-underwrites, evaluates risk, and assesses completeness of the underwriting package before Underwriter is required to review. u00b7Communicate directly with Brokers on behalf of the Underwriters to collect account and insured information necessary for risk analysis and quote completion. u00b7Perform and apply knowledge of line of business specific product underwriting rules and/or guidelines for pre-analysis support of submission in preparation of further analysis for quoting stage. u00b7Develops initial pricing, basic coverage structuring, quotation, and binder packages of the risk on behalf of the Underwriter. u00b7Manage the workflow of multiple tasks and maintain a detailed understanding of the status of various tasks owned by Underwriters, Brokers, Reinsurers, XL internal network, and Fronting Partners around the world. u00b7Communicate account status to ensure completion of outstanding subjectivities needed to execute policy issuance and premium collection as part of bound accounts. u00b7Collaborate and correspond verbally and in written format with internal and external contacts across the world, keeping in mind differences in local language, time zones, good local standard, to achieve a high level of service and meet client expectations. u00b7Exhibit a customer service mindset by proactively engaging with the UW and internal and external contacts, instructing and maintaining accounts to ensure implementation progress, such as promptly returning phone calls/emails. u00b7Collaborate with Enterprise Shared Services in order to coordinate endorsement requests and complete workbook entries. u00b7Proactively problem-solve to balance and manage client/broker expectations with internal service standards. u00b7Maintain a solid understanding of coverages and program structure, as well as internal policy coding systems to ensure completeness of contents of Coding/Issuance package prior to handover to the Coding/Issuance unit, resulting in a high quality policy product. u00b7Execute the bound reinsurance placement by coordinating with credit control and the reinsurance team to ensure that premiums are invoiced, collected and ceded to the appropriate parties according to the agreed amounts and various time due dates. u00b7Liaise closely with Underwriters, Product Management, Legal and Regulatory as necessary to perform pre-bind activities and to confirm policy issuance instructions and manuscript wordings, regulatory notices, certificates, etc. to effectively instruct the Coding and Issuance Unit. u00b7UA will collaborate closely with Underwriting teams related to pre-bind activities. u00b7Accountable for completeness of contents of Underwriting package prior to handover to Underwriter for risk analysis/risk selection process. u00b7Request input from Risk Mitigation teams (Risk Control, GAPS, Cat modeling group, etc.) in anticipation of Underwriteru2019s needs for risk analysis/risk selection. u00b7Understand Reinsurance placement and provide assistance in putting the Underwriting Package together for the Reinsurance provider at quoting so the Underwriting team can effectively negotiate terms and conditions. u00b7Assess when it is necessary and perform quality control of rating, coding and issuance output to ensure accuracy of work (e.g. exposure bases, limits, coverage extensions, modifications, data entry). u00b7Rate premium changes for premium bearing change requests and/or provide the proper instructions to India colleagues to do so. u00b7Create and maintain electronic file for accounts as required for Sarbanes Oxley and Internal Audit Guidelines. u00b7Potentially participate in projects where the Unit may be requested to provide Subject Matter Experts related to the Underwriting Support Unit. u00b7Meet regulatory filings and bureau correspondence due dates in line with regulatory and state guidelines In this role, you will report directly to the Operations Manager. UNLEASH your potential Weu2019re looking for someone who has these abilities and skills: u00b7Bacheloru2019s degree, or 1-3 years related insurance experience and/or training; or equivalent combination of education and experience u00b7Advanced knowledge of commercial insurance policy forms and regulatory requirements. u00b7Excellent written and oral communication skills u00b7Strong interpersonal skills in order to work effectively and professionally with diverse groups u00b7Proven organizational and problem solving skills u00b7Proven prioritization and time management skills with accurate results u00b7Basic competency in MS Office applications: Word, Outlook, Excel, Internet Explorer and Adobe Standard (or similar PDF conversion tool) required u00b7Experience with standard office equipment (e.g., phone, copier, fax/eFax, printer, scanner) u00b7Experience with standard office practices (e.g., data entry, certified mail, task tracking, documentation) Experience with insurance software (e.g., Policy Decisions, Reference Connect (Sage), ISO Net) Client u00b7Experience with insurance software (e.g., Policy Decisions, Reference Connect (Sage), ISO Net) Client Service experience a plus u00b7Knowledge and skills associated with general computer use, including typing, and saving files in specified locations. u00b7Directory and Internet search functions. u00b7Ability to work in a face-paced environment, responsive to Underwriters, brokers, bureaus, and Fronting Partners in a respectful timely manner. Mathematical Skills: u00b7Ability to perform basic math (add, substract, multiply, divide) in all units of measure, using whole numbers, common factions and decimals. u00b7Ability to compute rates, ratios and percentages. u00b7Ability to interpret bar graphs and charts. The XL Catlin group of companies is an Equal Opportunity Employer.

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