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Full-Time

Underwriting Associate

Updated on 11/2/2024

Ryan Specialty

Ryan Specialty

1,001-5,000 employees

Fintech
Financial Services

Compensation Overview

$64k - $80kAnnually

+ Bonus

Senior

Chicago, IL, USA + 4 more

More locations: Plainview, NY, USA | Charlotte, NC, USA | New York, NY, USA | Atlanta, GA, USA

Hybrid role with multiple locations including Chicago, Charlotte, Melville, New York, and Atlanta.

Category
Insurance
Finance & Banking
Required Skills
Word/Pages/Docs
Salesforce
Data Analysis
Excel/Numbers/Sheets
Requirements
  • 5-10 years’ experience in insurance industry
  • Prior experience with Specialty Property & Casualty lines of business.
  • Experience with Salesforce, Subscribe, IMS, and ODEN Policy Terminator a plus.
  • Strong computer and typing skills.
  • Proficient knowledge of Microsoft Suite applications, i.e. Word, Excel, PowerPoint
  • Excellent written and verbal communication skills.
  • Focused eye for detail and accuracy.
  • Intermediate knowledge of Microsoft Excel and Word.
  • Strong time management and organizational skills.
  • Desire to work as part of a team in a collaborative environment.
  • Bachelor’s Degree in business related or similar discipline.
Responsibilities
  • Prepare and coordinate all transactions and internal processing for multiple products, including but not limited to binder preparation support, invoices, complex policies and endorsements, cancellations, renewals, non-renewals, and reinstatements.
  • Drive renewal process by ensuring the review and approval of renewing policies by the underwriters; and system setup of renewals by Operations support team.
  • Process Broker of Record (BORs) letters.
  • Communicate effectively with underwriters and brokers to secure the information necessary to accurately process the business.
  • Internal and external monthly reporting.
  • Support finance, systems, data, and actuarial teams in ad-hoc tasks.
  • Assists with on boarding of new hires and/or acts a mentor for Operations Technical Specialists colleagues.
  • Assist in design and implementation of back-office operations and workflows
  • Ensure all work is processed according to Service Level Agreements
  • Liaise and train offshore shared service members
  • Communicate daily with outsource team on quality of work and exceptions
  • QA policies to ensure accuracy

Company Stage

IPO

Total Funding

$705.5M

Headquarters

Chicago, Illinois

Founded

N/A

Growth & Insights
Headcount

6 month growth

-1%

1 year growth

-1%

2 year growth

-1%
Simplify Jobs

Simplify's Take

What believers are saying

  • The acquisition of Castel Underwriting and Socius Insurance positions Ryan Specialty for growth by expanding its product offerings and market reach.
  • The company's investment in new space in Chicago indicates a commitment to growth and expansion, potentially leading to new job opportunities and increased market presence.
  • Ryan Specialty's innovative programs, like the Franchise Hotel Program, showcase its ability to adapt and cater to niche markets, enhancing its competitive edge.

What critics are saying

  • The rapid expansion through acquisitions may pose integration challenges and strain resources, potentially impacting operational efficiency.
  • The specialty insurance market is competitive, and Ryan Specialty must continuously innovate to maintain its leadership position.

What makes Ryan Specialty unique

  • Ryan Specialty's focus on specialty insurance and its role as both a wholesale broker and managing underwriter sets it apart from traditional insurance firms.
  • The company's strategic acquisitions, such as Castel Underwriting and Socius Insurance, enhance its product offerings and expand its international presence.
  • Ryan Specialty's ability to successfully reprice its term loan and reduce capital costs demonstrates financial acumen and operational efficiency.

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