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About the Role
The Underwriting Associate supports the underwriter by assessing and analyzing underwriting applications and forms. This role reviews applicant information, evaluates risk factors, and ensures compliance with underwriting guidelines, collaborating with departments to gather information and contribute to risk assessment.
Responsibilities
- Performs a combination of duties in accordance with departmental guidelines.
- Analyzes quality, quantity, and profitability of highly complex risks underwritten; prepares and presents reports to management.
- Reviews submission information with the underwriter including analysis of account information.
- Coordinates the quoting, binding, and issuance process.
- Researches and applies appropriate rates, coverages, and policy forms.
- Issues notices of cancellation, nonrenewal notices, or reinstatements.
- Develops and maintains superior relationships with underwriters, producers, brokers, and reinsurers.
- Maintains accurate file documentation in accordance with company guidelines.
- Develops and maintains agency and/or broker relationships with large producers within the assigned territory to reach positive and profitable outcomes on complex, high-risk business.
- Responsible for special underwriting projects and other duties as assigned.
Requirements
- Bachelor’s degree required, Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
- 1+ year related experience or in a similar role.
- Advanced analytical and problem-solving skills, with the ability to manage and prioritize multiple projects.
- Advanced technical expertise, underwriting skill and high level of knowledge of insurance and underwriting principles, practices and procedures.
- Minimum requirements for state P&C and/or surplus line licenses.
Skills
- Underwriting Principles
- Insurance Regulations
- Analytical
- Risk Evaluation
- Guidance Adherence
- Collaboration
- Documentation
- Marketing
- Portfolio Management
- Policy language
- Data Analysis
- Problem Solving
- Interpersonal
- Negotiation
- Presenting
- Relationship Building
- Project Management
- Time Management
- Event Marketing
Experience Level
- 1+ year related experience or in a similar role.
Education Level
- Bachelor’s degree required, Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
- Associate in Insurance Services (AIS) preferred.
Salary/Compensations
- $60,000.00 - $75,000.00 annually.
Benefits
- Paid time off for company holidays, vacation, sick and personal days.
- Paid parental leave.
- Mental health services.
- Bonuses (for full-time roles).
- Comprehensive and best-in-class benefits package.
About the Company
- 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.
Equal Opportunity
- 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.
- 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.