Insurance Underwriter Assistant Job Description [Updated for 2025]

In the world of risk management, the role of an insurance underwriter assistant has never been more crucial.

As the insurance industry evolves, the demand for skilled individuals who can assess, manage, and mitigate risks grows continually.

But what does an insurance underwriter assistant really do?

Whether you are:

• A job seeker looking to understand the core of this role,
• A hiring manager drafting the perfect job specification,
• Or simply curious about the intricacies of insurance underwriting,

You’ve come to the right place.

Today, we present a customizable insurance underwriter assistant job description template, designed for effortless posting on job boards or career sites.

Let’s dive into it.

Insurance Underwriter Assistant Duties and Responsibilities

Insurance Underwriter Assistants support the underwriting team in analyzing and assessing insurance risk to determine appropriate coverage and premium pricing.

They have the following duties and responsibilities:

• Assist in reviewing insurance applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing
• Collaborate with underwriters to help evaluate and process insurance policies
• Compile data from a variety of sources and prepare reports for senior underwriters
• Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property
• Maintain and update records of decisions and transactions to keep track of underwriting actions
• Communicate with agents and brokers to gather more information about applications and clarify details
• Perform administrative tasks such as maintaining files, processing paperwork and handling policy renewals
• Stay updated on industry trends, insurance products, and regulatory changes

 

Insurance Underwriter Assistant Job Description Template

Job Brief

We are looking for a meticulous Insurance Underwriter Assistant to support our underwriting team.

The role involves assisting in reviewing insurance applications and proposing coverage amounts and premiums.

Insurance Underwriter Assistant responsibilities include gathering and reviewing client background data, assessing risk factors, and assisting in determining the final pricing for policies.

Our ideal candidate has a background in insurance, great analytical skills, and a keen eye for detail.

 

Responsibilities

• Assist underwriters in reviewing insurance applications and endorsements
• Collect and assess background data of clients
• Help determine risk factors and propose coverage amounts and premiums
• Ensure all policy requirements are met
• Coordinate with brokers and clients to gather necessary information
• Maintain accurate records of policies underwritten and decisions made
• Assist in the development of underwriting guidelines
• Keep up-to-date with changes in insurance regulations and guidelines

 

Qualifications

• Proven work experience as an Insurance Underwriter Assistant or a similar role in the insurance industry
• Strong knowledge of underwriting procedures and policies
• Excellent analytical and decision-making skills
• Ability to handle confidential and proprietary information with discretion
• Excellent verbal and written communication skills
• Proficiency in Microsoft Office suite
• High school diploma; Bachelor’s degree in business, finance or a relevant field is a plus

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Insurance Underwriter Assistant
• Work Environment: Office setting. Some travel may be required for client meetings.
• Reporting Structure: Reports to the Lead Insurance Underwriter.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $45,000 minimum to $65,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does an Insurance Underwriter Assistant Do?

Insurance Underwriter Assistants typically work for insurance companies across various industries.

They assist Insurance Underwriters in determining whether to provide insurance and under what terms.

Their job involves reviewing insurance applications to ensure that all questions have been answered.

They gather background information and assessments of risk to assist the underwriter in the decision-making process.

Insurance Underwriter Assistants may also be responsible for gathering data on policyholders and evaluating loss frequency and severity.

They often collaborate with underwriters and other staff, such as insurance agents and data entry clerks.

Their work also involves administrative tasks like maintaining records, handling policy renewals, and assisting with quotes and rating.

They play a significant role in the underwriting process by helping underwriters evaluate insurance applications and decide on the appropriate terms and conditions.

This includes determining the coverage amount and premiums.

Furthermore, they may also assist in investigating the financial status of applicants, their medical history, and their risk factors.

They are responsible for providing the underwriter with accurate and detailed information to ensure proper risk assessment.

 

Insurance Underwriter Assistant Qualifications and Skills

An effective Insurance Underwriter Assistant must be equipped with a range of skills and qualifications to effectively manage their role, including:

• Proficiency in performing risk analysis to assist Underwriters in assessing the eligibility of insurance applicants
• Excellent organizational skills to manage and prioritize underwriting support tasks
• Strong numerical abilities to calculate potential risks, premiums, and rates
• Attention to detail for reviewing insurance applications for errors or discrepancies
• Exceptional communication skills to liaise between insurance agents and underwriters and clarify any uncertainties in applications
• Problem-solving skills to identify and resolve issues that may arise during the underwriting process
• Good understanding of insurance policies, regulations, and legalities
• Ability to use underwriting software and other technological tools to streamline and automate tasks
• Customer service skills for managing relationships with insurance agents and clients, ensuring satisfaction with services rendered

 

Insurance Underwriter Assistant Experience Requirements

Insurance Underwriter Assistants typically need to have between 1 to 2 years of experience in a similar role or within the insurance industry.

This could be gained from internships, part-time roles or full-time employment in roles such as Insurance Claims Clerk, Customer Service Representative or other insurance related positions.

Candidates with more than 2 years of experience often have detailed knowledge of insurance underwriting procedures, policies, and regulations.

They would have developed key skills such as risk analysis, decision-making, and attention to detail in their previous roles.

Those with more than 5 years of experience may have experience in supervisory or managerial roles within the insurance industry.

They would have demonstrated leadership skills, strategic planning ability and an understanding of complex insurance policies.

They may be ready for a team lead or managerial position within the insurance underwriting department.

 

Insurance Underwriter Assistant Education and Training Requirements

Insurance Underwriter Assistants typically require a bachelor’s degree in finance, business, economics or a related field.

They need a strong foundation in mathematics and statistics, as well as knowledge of the insurance industry, risk management, and financial analysis.

Some employers may accept previous experience in the insurance industry in lieu of a bachelor’s degree.

This could include roles such as insurance sales or claims adjusting.

While not always required, many employers prefer candidates who have earned certifications relevant to the insurance industry, such as the Chartered Property Casualty Underwriter (CPCU) or Associate in Commercial Underwriting (ACU) certification.

Some positions may require more specialized knowledge or certifications, especially for underwriting in specific areas like health, life, or property insurance.

Continuing education is often important in this role, as insurance underwriters must stay updated on new insurance policies and adjustments to existing policies.

As such, commitment to ongoing learning and professional development is highly valued in this profession.

 

Insurance Underwriter Assistant Salary Expectations

An Insurance Underwriter Assistant can expect to earn an average salary of $46,890 (USD) per year.

However, this figure can vary based on factors such as experience, education, the size and location of the employing company, and industry-specific variables.

 

Insurance Underwriter Assistant Job Description FAQs

What skills does an Insurance Underwriter Assistant need?

An Insurance Underwriter Assistant needs strong analytical skills to evaluate insurance applications and interpret data.

They should have excellent attention to detail to identify any inconsistencies or inaccuracies.

Good communication and interpersonal skills are also necessary for liaising with agents and brokers.

Knowledge in insurance principles and relevant software applications is also essential.

 

Do Insurance Underwriter Assistants need a degree?

Most employers require an Insurance Underwriter Assistant to have a bachelor’s degree in business, finance, economics, or a related field.

However, some might accept significant insurance industry experience in place of formal education.

Additionally, professional certifications such as the Associate in Commercial Underwriting (AU) can be beneficial.

 

What should you look for in an Insurance Underwriter Assistant’s resume?

Firstly, you should look for a relevant educational background, such as a degree in business or finance.

Experience in the insurance industry, particularly in underwriting, is also valuable.

Skills to look out for include analytical skills, proficiency in using underwriting software, and excellent communication skills.

Lastly, check if they have any professional certifications, as these demonstrate a commitment to their career.

 

What qualities make a good Insurance Underwriter Assistant?

A good Insurance Underwriter Assistant should have excellent analytical skills, an eye for detail, and be adept at working with numerical data.

They should be able to assess risk effectively and make sound decisions based on their analysis.

Good communication and negotiation skills are also important, as they often interact with brokers and clients.

They should also be organized and able to handle multiple tasks simultaneously.

 

Is it difficult to hire an Insurance Underwriter Assistant?

The difficulty in hiring an Insurance Underwriter Assistant can vary depending on the location and the specific requirements of the role.

It may be challenging to find a candidate with the right balance of analytical skills, industry knowledge, and interpersonal skills.

Therefore, offering competitive compensation and fostering a supportive work environment can help attract and retain suitable candidates.

 

Conclusion

So there we have it.

Today, we delved into the intricate world of being an insurance underwriter assistant.

And guess what?

It’s not just about crunching numbers.

It’s about crafting a secure future, one risk assessment at a time.

With our comprehensive insurance underwriter assistant job description template and real-world examples, you’re fully equipped to take the next step.

But why halt your momentum?

Venture further with our job description generator. It’s your springboard to precisely curated job listings or refining your resume to perfection.

Remember:

Every risk assessment is a step towards a more secure future.

Let’s build that future. Together.

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