Assistant underwriters work under accountants and other financial experts, performing writing and financial services for a company. Most of their time is spent performing risk analysis, pricing and rating products and services, processing paperwork, and auditing company files and transactions. They work closely with underwriting managers, other accountants, and company executives. They must be physically capable of spending most of the day seated, type quickly and accurately for data entry, and have filing skills for recordkeeping purposes. Assistant underwriters must be able keep company files and financial information private, as well as communicate well with other company members to collect data and financial information.
Companies that hire assistant underwriters include banks, financial institutions, insurance companies, employment agencies, and other large corporations with substantial financial interests. Assistant underwriters typically work in an office setting during regular business hours.
This position generally requires at least an associate's or bachelor’s degree in accounting, finance, or a related field, as well as previous related experience. Some positions prefer a master's degree and at least four years of experience in the field. Sensitive information is usually involved, so often passing a background check is required before hiring. Assistant underwriters must have experience with computer programs related to accounting and finance, as well as expertise in communication and teamwork. They must be capable of working alone and with others, and they must be organized and detailed to maintain company financial records and audits.
Assistant Underwriter Tasks
Assist in the evaluation and monitoring of loss potential/control from catastrophic events.
Enter, review and maintain accurate records of new policies and renewals.
Assist business development of new business opportunities with sales and marketing efforts.
Assist underwriting agents in their duties.
Assist in the development and monitoring of premium rates.