Position Summary

The Underwriting Associate is responsible for supporting the underwriter in the decision-making process by assessing and analyzing underwriting applications and forms. The role reviews applicant information, evaluates risk factors, and ensures compliance with underwriting guidelines. They collaborate with various departments to gather necessary information, conduct data analysis, and contribute to the overall risk assessment process.

What will your job entail?

Responsibilities:

• Provides strategic support to the underwriter as per binding authority underwriting guidelines including, but not limited to, reviewing binder quotes, providing new quotes, rating premium submissions, and assisting the underwriter in meeting production goals.
• Maintains complete client documentation, accurately records data needed to issue insurance, and follows up as needed for missing information.
• Ensures that quotes and binders are confirmed in writing and policies are issued promptly and accurately in accordance with the binding authority guidelines and statutory and regulatory compliance.
• Makes accurate state filings where applicable and ensures accurate tax payment in accordance with the state laws.
• Contributes to the success of the underwriting team in mitigating risks and ensures sound insurance policies by providing valuable insights to facilitate informed underwriting decisions.
• Keeps up to date with binding authority underwriting guidelines, best practices, and any change in regulatory or statutory environment.
• Builds underwriting reports and checks for consistency and reviews and handles inspection recommendations and discrepancies as suggested by the Underwriter.
• Communicates with clients and agencies under the managing underwriter’s supervision and develops relationships with other underwriters.
• Learns agency management software systems as needed and works with the underwriting team to understand underwriting processes and procedures.

Work Experience:

• Minimum of 1 year of experience in Insurance industry or Underwriting is preferred.

Education:

• Bachelor’s degree required, Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.

Licenses and Certifications:

• Prescribed: Minimum requirements for state P&C and/or surplus line licenses
• Preferred: Associate in Insurance Services (AIS)

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $54,250.00 - $65,000.00 annually.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [email protected]

The above is intended to describe this job’s general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.