Underwriting Assistant

Job Description

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 address data, servicing, and/or cash flow issues. This role is responsible for ensuring that business is processed correctly and timely.

• New Business Support
  • Submission clearance.
  • Follow up on information needed from brokers.
  • Initiate sanctions check if required and escalated to underwriter if there is a hit.
  • Perform pre-analysis (triage) support based on predefined underwriting rules and/or guidelines. Evaluate new and renewal submissions against prescribed criteria to determine completeness; document 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. Evaluate new and renewal submissions against prescribed criteria to determine completeness; document 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.

• 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 helpful but not required.

Salary Range: $55,000-$65,000

We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory 401(k), discretionary bonus, insurances including medical, dental and vision cover, and many other benefits to enhance financial, physical, social and psychological health.

We are fully committed to equal employment opportunities for all applicants and to providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate.

We encourage and welcome applicants from all diverse backgrounds. We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.