Platinum Specialty Underwriters (PSU), a division of XPT Partners, is a premier specialty Managing General Underwriter (MGU) with a widespread presence across the nation. Through a wealth of experience and exceptional service, PSU provides exclusive insurance products to an extensive network of wholesale partners.
PSU's Platinum Excess Trucking division is offering an exceptional opportunity to join a quickly expanding team with ample opportunities for growth and career advancement. The Underwriting Assistant/Compliance Associate plays a supportive role on the team by focusing on the facilitation and streamlining of the underwriting process. As a linchpin between underwriters, wholesalers, reinsurance contacts, and carriers, this position ensures that all necessary documentation and information is accurately processed and organized. By handling administrative tasks, conducting preliminary risk assessments, and gathering relevant data, the Underwriting Assistant helps maintain the efficiency and effectiveness of the underwriting team. This role is essential for maintaining the workflow, allowing underwriters to make informed decisions with the comprehensive information provided, thereby contributing to the overall success and customer satisfaction within the insurance sector.
Duties:
- Review and process insurance applications to ensure all necessary information is complete and accurate.
- Assist underwriters in assessing the risk of insuring applicants by compiling data from various sources, including financial documents, health records, and background checks.
- Calculate premiums and establish payment methods based on underwriting guidelines and policy standards.
- Prepare and issue insurance policies once underwriting approval is obtained, ensuring all policy documents are accurate and comply with regulatory requirements.
- Coordinate with agents and brokers to gather additional information or clarification needed to process applications or modify existing policies.
- Maintain detailed records of underwritten policies, decisions made, and correspondence with agents, brokers, and clients.
- Assist in the development and updating of underwriting guidelines, criteria, and tools to improve efficiency and decision-making processes.
- Administer File and BDX audits for accuracy and compliance
- Handle customer inquiries and complaints related to underwriting decisions, policy amendments, and premium adjustments, providing high-quality customer service.
Skills:
Risk Assessment: The process involves a detailed analysis of data and trends to forecast future claims or losses. Underwriting Assistants are central to this task, collecting and deciphering complex information to aid in decision-making and policy pricing.
Policy Issuance: The preparation and dispatch of insurance policies demand a thorough attention to detail and comprehensive knowledge of the company’s offerings and guidelines. Underwriting Assistants ensure documents are accurate and compliant, facilitating a seamless transition to policy activation.
Data Entry: Capturing and updating insurance application details accurately in various systems is crucial for precise risk assessment and premium calculation. Underwriting Assistants’ proficiency in data management tasks is imperative for an efficient underwriting process.
Regulatory Compliance: Underwriting Assistants review and apply the latest regulatory frameworks to insurance policies and procedures, ensuring the company’s operations are in line with all relevant laws and guidelines. Their diligence protects the company from legal risks and guarantees that underwriting decisions are compliant and ethically sound.
Client Communication: Conveying policy details and underwriting decisions while addressing client queries demands a nuanced approach. Underwriting Assistants play a key role in ensuring clear communication and maintaining positive relationships between underwriters and clients.
Document Management: Organizing, storing, and retrieving policy documents, applications, and correspondence efficiently is a responsibility of Underwriting Assistants. Their skill in managing digital document systems ensures quick access and a smooth workflow, supporting informed decision-making.
Qualifications:
- 2-3 years of Trucking Insurance experience preferred
- Knowledge of the Excess & Surplus market preferred
- Effectively work in a team environment managing complex workloads while exhibiting strong analytical and decision-making skills
- Ability to work with multi-faceted systems including proprietary company rating software, AIM and ImageRight
- Proficient in Microsoft Office 365 products
- Insurance Producer’s license is required within three months of employment
If you are looking for a challenging and rewarding opportunity to join a dynamic team of experts, we invite you to submit your resume and cover letter detailing your relevant experience.
Job Type: Full-time
Pay: From $55,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Parental leave
- Referral program
- Retirement plan
- Vision insurance
Schedule:
- 8 hour shift
- Day shift
- Monday to Friday
Application Question(s):
- Do you have Trucking Insurance experience?
- Do you have Excess and Surplus experience?
Experience:
- Insurance: 2 years (Required)
License/Certification:
- Insurance Producer License (Preferred)
Location:
Work Location: Remote