Underwriting Associate - Commercial Property

Position Summary Velocity Risk is seeking an early-career insurance professional to join our Property Underwriting team in Chicago. This opportunity is well suited for an Underwriting Assistant looking to build toward an underwriting career, a recent college graduate interested in commercial property insurance, or an early-career underwriter with approximately 1–2 years of property underwriting  this role, you will work closely with experienced underwriters to evaluate property risks, support new and renewal business, prepare accounts for underwriting review, and develop an understanding of risk selection, pricing, coverage, and Velocity’s underwriting appetite.

The position offers hands-on exposure to the underwriting process and the opportunity to take on increasing underwriting responsibility as your knowledge and experience grow.

This position requires the ability to work a hybrid schedule from our Wacker Drive office in downtown Chicago.

What will your job entail?

Support the evaluation of new and renewal property submissions, ensuring underwriting information is complete, current, and accurate.

Review submission information and exposure data to help identify key risk characteristics and prepare accounts for underwriting review.

Assist underwriters with risk selection, pricing, quoting, binding, endorsements, renewals, and policy issuance.

Gather and organize information from brokers and other business partners needed to evaluate and process submissions.

Develop an understanding of Velocity’s property underwriting appetite, guidelines, coverage forms, pricing considerations, and risk-selection criteria.

Assist with premium calculations and the application of rates in accordance with underwriting guidelines and authority.

Maintain accurate underwriting files, documentation, and system information throughout the lifecycle of an account.

Communicate with brokers and business partners regarding submissions, outstanding information, policy documentation, and general underwriting inquiries.

Build strong relationships with brokers and internal partners by providing responsive, solutions-oriented service.

Monitor underwriting activity and assist with reporting, portfolio information, and other underwriting metrics as needed.

Support audit, compliance, and documentation requirements and ensure underwriting activities follow established policies and guidelines.

Partner closely with experienced underwriters and actively participate in training and development opportunities to build technical underwriting knowledge.

Take on increasing responsibility for risk evaluation and underwriting decisions as experience, technical knowledge, and underwriting authority develop.

Work Experience & Education Bachelor’s degree in Risk Management & Insurance, Finance, Business, Economics, or a related discipline preferred; equivalent relevant insurance experience will also be considered.

We are open to candidates at multiple early-career stages, including:
Underwriting Assistants or other insurance professionals interested in developing into an underwriting role;
Recent college graduates with relevant coursework, internships, or demonstrated interest in commercial insurance; or Underwriter Trainee / Underwriter I candidates with approximately 1–2 years of commercial property underwriting experience.

Prior exposure to commercial property insurance, underwriting, brokerage, or another P&C insurance environment is a plus but not required for recent graduates.

Interest in developing technical expertise in commercial property underwriting and building a long-term career in underwriting.

Strong analytical skills and comfort working with detailed exposure, financial, and risk information.

Strong written and verbal communication…