Underwriting Associate

About the Role

The Underwriting Associate supports the underwriter in the decision-making process by assessing and analyzing underwriting applications and forms. The role reviews applicant information, evaluates risk factors, ensures compliance with underwriting guidelines, collaborates with various departments to gather necessary information, conducts data analysis, and contributes to the overall risk assessment process.

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.
• Handles 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 of 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.

Qualifications

• Licenses & Certifications:
  • Prescribed: Minimum requirements for state P&C and/or surplus line licenses.
  • Preferred: Associate in Insurance Services (AIS).

Skills

• Technical Skills:
  • Underwriting Principles
  • Insurance Regulations
  • Analytical Risk Evaluation
  • Guidance Adherence
  • Collaboration
  • Documentation
  • Marketing
  • Portfolio Management
  • Policy language
  • Data Analysis
• Behavioral Skills:
  • Problem Solving
  • Interpersonal
  • Negotiation
  • Presenting
  • Relationship Building
  • Project Management
  • Time Management
  • Event Marketing

Benefits

Ryan Specialty offers a comprehensive and best-in-class benefits package, including:

• Paid time off for company holidays, vacation, sick, and personal days.
• Paid parental leave.
• Mental health services.

Pay

The target salary range for this position is $54,250.00 - $60,000.00 annually. The wage range considers factors such as training, transferable skills, work experience, licensure, certification, business needs, and market demands. Full-time roles are eligible for bonuses and benefits.