Logo of Huzzle

Home

Matches

Explore

Manage

Underwriting Assistant

image

Munich Re

Oct 9, 2024

Applications are closed

  • Job
    Full-time
    Junior, Mid & Senior Level
  • Philadelphia

Requirements

  • Minimum of 2-6 years of relevant work experience, is required
  • 2-4 years of experience or related knowledge supporting the Surety LOB.
  • Prior experience with Bond-Pro or other insurance bond systems preferred.
  • Intermediate to expert-level computer skills – Microsoft Excel, Word, PowerPoint, SharePoint, and Outlook
  • Bachelor’s degree (or equivalent work experience) in related field
  • Has a proactive and passionate service approach with the ability to take ownership and drive issues to resolution
  • Is highly adaptive and able to work effectively in ambiguous and changing environments
  • Can work quickly and with minimal direct oversight
  • Demonstrates the ability to manage competing priorities within a team first, solutions-oriented culture

Responsibilities

  • Process Surety business through data entry applying knowledge and understanding of rating scenarios. This includes but is not limited to: prepare and execute new business, renewals, cancellations, endorsements, reinstatements, and status inquiries.
  • Provide underwriting support to the Surety Underwriting team (Underwriters, Bond Managers, etc.) and service to internal and external customers, including agents and clients. Assists with customer inquiries and questions. Input, update, and retrieve information using various systems, underwriting analysis, and database systems.
  • Interpret data and set up accounts and agents in appropriate system(s) ensuring accuracy.
  • Assist Finance with collections inquiries, premium, and commission discrepancies upon request.
  • Apply advanced-level technical knowledge of Surety Operations procedures acquired through on the job experience or through advanced level technical training. High degree of interaction with bond managers and underwriting personnel to provide all support required in various underwriting functions.
  • High interaction and coordination with brokers, agents, clients, and internal team members to support underwriting decisions to obtain and provide information as needed and answer general questions of underwriters and clients.
  • Recommend process improvements, tool enhancements, and testing of system and process changes.
  • Perform quality control checks to ensure data accuracy and maximize the integrity, quality, and usability of information.

FAQs

What is the main responsibility of an Underwriting Assistant at Munich Re Specialty North America?

The main responsibility of an Underwriting Assistant is to assist underwriters by providing support for Surety business, including timely and accurate risk clearance, account setup, processing of bonds, and assisting in the transition to new systems.

What qualifications are required for this position?

A minimum of 2-6 years of relevant work experience is required, with 2-4 years of experience or related knowledge supporting the Surety line of business preferred. A Bachelor’s degree (or equivalent work experience) in a related field is also necessary.

Is experience with specific systems necessary for the Underwriting Assistant role?

Yes, prior experience with Bond-Pro or other insurance bond systems is preferred.

What computer skills are necessary for this position?

Intermediate to expert-level computer skills in Microsoft Excel, Word, PowerPoint, SharePoint, and Outlook are necessary.

What kind of work environment can I expect as an Underwriting Assistant?

You can expect a team-first, solutions-oriented culture where you will work effectively in ambiguous and changing environments while managing competing priorities.

Are there opportunities for process improvement within this role?

Yes, the role involves recommending process improvements, tool enhancements, and the testing of system and process changes.

Does Munich Re offer equal opportunity employment?

Yes, Munich Re is an equal opportunity employer and strives to provide a workplace where all colleagues feel respected, valued, and empowered.

Will I be working closely with other team members and clients?

Yes, there will be high interaction and coordination with brokers, agents, clients, and internal team members to support underwriting decisions and address inquiries.

Is a proactive service approach important in this role?

Yes, a proactive and passionate service approach with the ability to take ownership and drive issues to resolution is essential for success in this role.

What kind of support will I provide to the Surety Underwriting team?

You will assist with customer inquiries, input and update information in various systems, and provide general support needed for various underwriting functions.

image

Munich Re

Pushing the boundaries of insurability to help the world advance with confidence.

Finance
Industry
10,001+
Employees

Mission & Purpose

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. We are globally active and operate in all lines of the insurance business. Since our founding in 1880, we’ve been known for our unrivaled risk-related expertise and sound financial position. We offer customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season. We possess outstanding innovative strength, which enables us to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyber attacks, or pandemics. We’re also playing a key role in driving forward the digital transformation of the insurance industry, and in doing so have further expanded our ability to assess risks and the range of services that we offer. Our tailor-made solutions and close proximity to our customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. Our corporate culture is defined by performance, mutual respect and trust. All this makes us an attractive employer providing global career development opportunities and prospects.