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Underwriting Assistant

Company: AXA XL
Location: Exton
Posted on: January 27, 2023

Job Description:

AXA XL offers risk transfer and risk management solutions to clients globally. We offer worldwide capacity, flexible underwriting solutions, a wide variety of client-focused loss prevention services and a team-based account management approach.

The Underwriting Assistant will be a team player within the Underwriting Support Unit of the Construction Division and will perform tasks that directly support the Underwriting team. As owner and principal facilitator of assigned accounts, the Underwriting Assistant will perform front-to-end activities throughout the life-cycle of renewal and prospect accounts from submission to expiration. These tasks will be performed with guidance from the Underwriter. The Underwriting Assistant will be engaged in ongoing development of his/her knowledge of commercial insurance related to his/her specialized line of business.

UA will be expected to perform all of the following duties and responsibilities based on the requirements of the business unit that he/she supports and with assistance from the underwriter where needed as part of his/her development

  • Pre-underwrites, evaluates risk, and assesses completeness of the underwriting package before Underwriter is required to review. Communicate directly with Brokers on behalf of the Underwriters to collect account and insured information necessary for risk analysis and quote completion.
  • Perform and apply knowledge of line of business specific product underwriting rules and/or guidelines for pre-analysis support of submission in preparation of further analysis for quoting stage.
  • Attend broker meetings and renewal meetings to build relationships with brokers and promote the "AXA XL team".
  • Triage new business in collaboration with the UW for business appetite and exceptions
  • Develops initial pricing, basic coverage structuring, quotation, and binder packages of the risk on behalf of the Underwriter.
  • Manage the workflow of multiple tasks and maintain a detailed understanding of the status of various tasks owned by Underwriters, Brokers, Reinsurers, XL internal network, and Fronting Partners around the world.
  • Communicate account status to ensure completion of outstanding subjectivities needed to execute policy issuance and premium collection as part of bound accounts.
  • Collaborate and correspond verbally and in written format with internal and external contacts across the world, keeping in mind differences in local language, time zones, good local standard, to achieve a high level of service and meet client expectations.
  • Exhibit a customer service mindset by proactively engaging with the UW and internal and external contacts, instructing and maintaining accounts to ensure implementation progress, such as promptly returning phone calls/emails.
  • Collaborate with Enterprise Shared Services in order to coordinate endorsement requests and complete workbook entries.
  • Proactively problem-solve to balance and manage client/broker expectations with internal service standards.
  • Maintain a solid understanding of coverages and program structure, as well as internal policy coding systems to ensure completeness of contents of Coding/Issuance package prior to handover to the Coding/Issuance unit, resulting in a high quality policy product.
  • Execute the bound reinsurance placement by coordinating with credit control and the reinsurance team to ensure that premiums are invoiced, collected and ceded to the appropriate parties according to the agreed amounts and various time due dates.
  • Collaborate closely with Underwriters, Product Management, Legal and Regulatory as necessary to perform pre-bind activities and to confirm policy issuance instructions and manuscript wordings, regulatory notices, certificates, etc. to effectively instruct the Coding and Issuance Unit.
  • Request input from Risk Mitigation teams (Risk Control, GAPS, Cat modeling group, etc.) in anticipation of Underwriter's needs for risk analysis/risk selection.
  • Understand Reinsurance placement and provide assistance in putting the Underwriting Package together for the Reinsurance provider at quoting so the Underwriting team can effectively negotiate terms and conditions.
  • Assess when it is necessary and perform quality control of rating, coding and issuance output to ensure accuracy of work (e.g. exposure bases, limits, coverage extensions, modifications, data entry).
  • Rate premium changes for premium bearing change requests and/or provide the proper instructions to India colleagues to do so.
  • Create and maintain electronic file for accounts as required for Sarbanes Oxley and Internal Audit Guidelines.
  • Potentially participate in projects where the Unit may be requested to provide Subject Matter Experts related to the Underwriting Support Unit.
  • Meet regulatory filings and bureau correspondence due dates in line with regulatory and state guidelines.

    SHARE your talent

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

    • Bachelor's degree and 1-3 years related insurance experience with mid to large Construction Risk including Commercial Insurance experience and/or training; or equivalent combination of education and experience
    • Knowledge of commercial insurance policy forms and regulatory requirements is preferred, but not required
    • Excellent written and oral communication skills
    • Strong interpersonal skills in order to work effectively and professionally with diverse groups
    • Proven organizational and problem solving skills
    • Proven prioritization and time management skills with accurate results
    • Basic competency in MS Office applications: Word, Outlook, Excel, Internet Explorer and Adobe Standard (or similar PDF conversion tool) required
    • Experience with standard office equipment (e.g., phone, copier, fax/eFax, printer, scanner)
    • Experience with standard office practices (e.g., data entry, certified mail, task tracking, documentation)
    • Knowledge of commercial rating rules and forms for products serviced is preferred, but not required
    • Knowledge of regulatory requirements for products serviced is preferred, but not requiredExperience with insurance software (e.g., Policy Decisions, Reference Connect (Sage), ISO
      • FIND your future

        AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it.

        How? By combining a strong and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business - property, casualty, professional, financial lines and specialty.

        With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

        Learn more at axaxl.com

        FIND your future

        AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it.

        How? By combining a strong and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business - property, casualty, professional, financial lines and specialty.

        With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

        Learn more at axaxl.com

        Inclusion & Diversity

        At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That's why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, while creating an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It's about helping one another - and our business - to move forward and succeed.

        • Five Business Resource Groups focused on gender, LGBTQ+, race/ethnicity, disability and inclusion with 20 Chapters around the globe
        • Robust support for Flexible Working Arrangements
        • Enhanced family friendly leave benefits
        • Named to the Diversity Best Practices Index
        • Signatory to the UK Women in Finance Charter

          Learn more at axaxl.com/about-us/inclusion-and-diversity . AXA XL is an Equal Opportunity Employer.

          Corporate Responsibility

          At AXA XL our approach to corporate responsibility (CR) is the same as our approach to business; constantly seeking to provide innovative solutions to the world's most complex problems. From offering our expertise, products and services to help build more resilient communities, to advancing understanding and response to climate change, our strategy - Our Impact. Our Future. - aligns key issues that are pertinent to our business - climate, water and financial resilience - and contributes to AXA Group's purpose to "Act for human progress by protecting what matters.".

          • Climate: We're reducing our carbon footprint, protecting ecosystems and exploring how our business can help build a better world.
          • Water: We're developing water resilience where it is - and will be - needed most.
          • Financial resilience: We're helping create opportunities for the unemployed and underemployed, so they can be better prepared for unexpected changes.
          • Hearts in Action:We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as our "Hearts in Action" programs.

            For more information, please see the Corporate Responsibility section on our website.

            The pay range for this position is ($46,500 - $80,500). Actual pay will be determined based upon the individual's skills, experience and location. We strive for market alignment and internal equity with our colleagues' pay.

Keywords: AXA XL, Wilmington , Underwriting Assistant, Other , Exton, Delaware

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