Full-Time

Brokerage and Underwriter Assistants

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Posted on 11/20/2024

Ryan Specialty

Ryan Specialty

1,001-5,000 employees

Financial Services

Compensation Overview

$20 - $25Hourly

+ Bonus

Entry

Las Vegas, NV, USA + 8 more

More locations: Houston, TX, USA | Los Angeles, CA, USA | Dallas, TX, USA | Philadelphia, PA, USA | Chicago, IL, USA | Plainview, NY, USA | New York, NY, USA | Atlanta, GA, USA

Category
Insurance
Finance & Banking
Required Skills
Customer Service
Requirements
  • RMI student or relevant experience in insurance
  • Ability to assist in executing and coordinating brokerage operations
  • Strong organizational skills for maintaining accurate records
  • Customer service skills for handling inquiries and requests
  • Ability to evaluate and maintain policy information
  • Knowledge of underwriting processes and insurance products
  • Ability to assess risks associated with insurance applications
  • Strong communication skills for client interactions
  • Ability to collaborate with teams and adhere to compliance standards
Responsibilities
  • Assists in executing and coordinating day-to-day brokerage operations and supports the implementation and improvement of operational procedures.
  • Coordinates with the broker to prepare documents, cover letters etc. to market renewal business and provides necessary administrative support in filing, printing, and archiving documents.
  • Administers and updates new and current client information in all required systems accurately.
  • Maintains accurate and organized records of client accounts, transactions, and other relevant documentation and ensures compliance with record-keeping regulations.
  • Performs customer service functions by answering broker requests and questions by telephone, email, chat, or in person.
  • Contributes to the preparation of compliance reports related to brokerage operations and collaborates across broker and finance teams on business requirements.
  • Adheres to regulatory requirements and internal policies and assists in the preparation of compliance reports.
  • Assists in identifying and mitigating operational risks and collaborates with risk management teams to implement controls.
  • Supports the Brokerage team with any ad hoc tasks and requests.
  • Evaluates and maintains existing policy information to ensure data is current, accurate, and appropriately priced for renewal.
  • Responds to client requests and questions, offering information and advice regarding the insurance products & underwriting appetite.
  • Communicates with clients to gather necessary information, resolves inquiries, and ensures a smooth underwriting process.
  • Prepares and organizes documentation related to underwriting submissions and policy issuance.
  • Assesses risks associated with individual insurance applications, considering both standard and substandard criteria.
  • Provides support in premium calculations, ensuring accurate application of rates based on underwriting guidelines.
  • Builds and maintains reports on underwriting activities, key performance indicators, and relevant metrics.
  • Conducts internal and external audits by providing necessary documentation and information related to underwriting activities.
  • Ensures adherence to company policies, guidelines, industry regulations, and compliance standards in underwriting activities.
  • Collaborates with underwriting teams to relay information, coordinate tasks, and contribute to the overall underwriting process.
  • Serves as the key point of contact for customers and agents and delivers excellent customer service by addressing inquiries, resolving issues, and ensuring a positive experience for them.

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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