Underwriting Assistant

Posted on Jun 27 Chicago, IL


MAXIMIZE your opportunity
XL Catlin Excess and Surplus Lines caters to clients with unusual or high risk coverage needs that are placed through Excess and Surplus lines wholesale brokers. We proactively position ourselves in the market as being a dedicated Excess and Surplus lines platform with the ability to provide tailored solutions to even the most complex risks. Across XL Catlin, we strive to deliver a coordinated and collaborative approach where we complement other lines of business.

Our growing Excess and Surplus unit is looking to fill an Underwriting Assistant position in the Chicago office to support our growing Casualty business for the lines of General Liability and Excess.

As an Underwriting Assistant, you will play a critical role within the team where you will bring your energy and passion for learning to your responsibilities that are in direct support of the Underwriters. You will employ your strong analytical skills and attention to detail in supporting business critical underwriting activities from information gathering to rating for new business as well as renewals and midterm changes and electronic file preparation. You work closely with colleagues across regional offices and globally, interacting directly with various business partners that include our clients, brokers, finance,

legal and claims teams.

What will your essential responsibilities include?

  • Collecting account and insured information for risk analysis by communicating directly with Brokers on behalf of the Underwriters.
  • Analyzing the needs of the client and translating appropriately into the final specifications that serves as a basis for the policy.
  • Performing pre-analysis support for new submissions, renewals, endorsements, and other incoming documents based upon predefined underwriting rules and/or guidelines.
  • Ensuring completeness of contents of underwriting package prior to handover to the Underwriter for risk analysis/risk selection process.
  • Working with underwriters confirming policy issuance instructions for proprietary and manuscript policies, endorsements, forms, notices, etc. coupled with communicating these instructions to the coding and issuance unit.
  • Exercising template-based Underwriting Authority (predefined risk selection criteria) for renewals, mid-term change requests and declinations.
  • Analyzing informational reports to glean anecdotal information for Underwriting as part of the underwriting package (e.g., summarize loss runs, financials of proposed insured, etc.).
  • Effectively dealing with accounts having a variety of intricate parts to ensure policies are complete and all aspects of the broker communication is seamless. Working with Underwriters, Brokers and Reinsurers as needed to communicate account status and complete outstanding subjectivities.
  • Completing quality control on the rating output to ensure accuracy of work (e.g. exposure bases, limits, coverage extensions, modifications, etc.).
  • Preliminary data entry for rating throughout the analysis, quote and bind stages of an account cycle – includes use of proprietary rating tools and those supporting rates from ISO.
  • Rating premium changes for premium bearing midterm change requests.
  • Assisting with Account Receivable collections when required.
  • Creating and maintaining electronic file for accounts as required for Sarbanes Oxley and Internal Audit Guidelines.
  • Accurately compiling supporting account detail in electronic format while collaborating with others to ensure timely, accurate completion of all assigned tasks.
  • Generating Broker and Reinsurer correspondence in electronic format (i.e., e-mail, eFax) related to transaction processing and informational follow up requests using free-form letters, predefined or approved templates.
  • Assuming a leadership role as it relates to application of processes and procedures associated with the position's responsibilities.

You will report to the Excess & Surplus Lines Assistant Operations Manager.

UNLEASH your potential
We're looking for someone who has these abilities and skills:

  • Strong knowledge of commercial insurance policy forms and regulatory requirements.
  • Bachelor degree and/or minimum of three to five years of experience; or equivalent combination of education and experience.
  • Experience with rating tools and related software/applications (i.e. ISO rates, rules and forms along with proprietary rating plans, Reference Connect, formerly known as Sage/Silver Plume).
  • Basic competency in Microsoft office applications: Word, Outlook, Excel, Adobe Standard or similar PDF conversion tools required.
  • Knowledge and skills associated with general computer use, including typing, saving files in specified directory, and Internet search functions.
  • High dedication to client, team and vendor relations evidencing professionalism and diplomacy in all situations.
  • Excellent verbal and written communication, collaboration, presentation and influencing skills with the ability to communicate effectively with all internal and external stakeholders.
  • Proven organizational and problem solving skills, prioritization and time management skills with accurate results.
  • Course work completed toward CPCU, ARM, AU or other relevant commercial industry designations – preferred, but not required.

The XL Catlin group of companies is an Equal Opportunity Employer.

Location:US-IL-Chicago

Job Field:Underwriting Support

Schedule:Full-time

Job Type:Standard