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Underwriting Operations Analyst

MSIG Holdings (U.S.A.)

MSIG Holdings (U.S.A.)

IT, Operations
Warren, NJ, USA
Posted on Tuesday, July 2, 2024

MSIG North America continues to grow!

Summary/Job Purpose:

Responsible for supporting the underwriting process for multiple lines of insurance coverage which includes property, casualty, workers compensation, umbrella, excess lines, marine and automobile coverages.

Provide technical underwriting support for highly complex assigned accounts. Including but not limited to collecting data, account setup, rating, producing quotes and binders, issuing policies and endorsements. Proactively assist in ensuring the underwriting process is handled efficiently and accurately. Provide Underwriters with required reports and analysis.

Essential Functions:

  • Collect and reconcile new and renewal submission information to prepare policy/account files for underwriter review in accordance with company underwriting guidelines and standards.
  • Review and analyze account information for necessary underwriting data (exposures, loss information, driver information, financials, loss control reports, etc.). Communicates and follows up with broker for missing information.
  • Review, analyze and accurately input financial and statistical information into the appropriate system(s) to provide timely and accurate quote (pricing), policy, reinsurance, endorsement processing. Maintain various databases to ensure all systems accurately reflect updated account information/documentation in accordance with company underwriting guidelines.
  • Rate products with proprietary plans (i.e., Umbrella, COP, Inland Marine, etc.).
  • Review, approve, and expedite routine renewals, endorsements, cancellations, and correspondence within delegated authority. Refer all material change endorsement requests to appropriate Underwriter for sign-off and approval.
  • Under direct supervision, underwrites and assesses risk and makes recommendations for less complex accounts.
  • Produce quotes and binders for new and renewal accounts/policies (i.e., identify/gather relevant account information to quote and/or bind the policy; identify proper forms and endorsements used for policy construction, etc.).
  • Complete all aspects of reinsurance tasks per underwriting guidelines.
  • Review and analyze accounts for reinsurance placement, organizes information and accurately inputs data into required system. Obtains required underwriting data from client. Manages all aspects of the risk account from submission to applicable document issuance.
  • Perform quality control checks to ensure data accuracy and maximize the integrity, quality and usability of information which will minimize discrepancies encountered by other departments.
  • Proactively problem solve to meet and exceed client/broker expectations with internal standards. Work on identifying process/system improvement concepts, and critical success factors for achieving high results in Operations.
  • Provides excellent customer service in a timely and professional manner to internal and external customers including, but not limited to Underwriters; Operations; Agents and Brokers; to facilitate the processing of business with current and prospect accounts.
  • Respond to brokers service requests for loss runs, endorsements, etc.; ensuring all appropriate documentation is received (i.e., signed statements of values; signed terrorism rejection forms; obtaining copies of underlying policies for umbrella and excess policies). Research and assist in resolving inquiries generated from internal and external customers (i.e., policy/account status, rating, and billing issues, etc.).
  • Participates in broker/agency visits, loss inspections, etc., per Underwriter’s recommendation. Develops negotiation skills through their interaction with agents/brokers and via coaching from their Underwriter.
  • Order and retrieve Risk Engineering reports as necessary based on underwriting criteria. Review inspection reports and summarizes/highlights key elements based on existing underwriting data; follows-up on recommendations to ensure compliance to MSIG risk management standards. Signs off on inspection within assigned authority levels.
  • Accurately enter data into Cat Modeling Template and submit to Cat Modeling Team. Analyze output for both catastrophe management as well as improve underwriting decisions. Provide the underwriter with base analysis (i.e., flood zone info, if included).
  • Subject matter expert for business processes, tools and systems, act as a resource and coach for others, answering questions and providing direction.
  • Properly document all systems/account files within established due dates. Ability to effectively manage, organize and prioritize multiple tasks.

Supervisory Responsibilities:

This position has no supervisory responsibilities.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Experience Required:

Diploma/Degree & Experience

College Degree or equivalent work experience with emphasis on insurance, business or accounting preferred.

6+ years prior customer service experience with emphasis on analytic functions in underwriting, accounting, or statistical disciplines. 4+ years’ experience as an underwriting analyst preferred.

Solid knowledge of primary and/or reinsurance underwriting process, rating, and coverages for property/casualty lines of business preferred.

It's an exciting time for our company and a great opportunity to join a financially sound and growing global insurance group!
It is the policy of MSIG-NA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG-NA will provide reasonable accommodations for qualified individuals with disabilities.