Underwriting Assistant Job Description


Author: Lorena
Published: 19 Sep 2021

The Careers of a Loan Closer, Insurance Examiner and Underwriting Clerk, The Assistant to the Purchasing Manager, An Insurance Underwriting Assistant and more about underwriting assistant job. Get more data about underwriting assistant job for your career planning.

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The Careers of a Loan Closer, Insurance Examiner and Underwriting Clerk

Even the most dedicated employees consider changing careers occasionally, even though it's hard work to become an underwriting assistant. We've compiled information becoming a loan closer, insurance examining clerk, loan specialist, and underwriting clerk, whether you're interested in a more challenging position or just looking for a fresh start. One of the things that makes loan closers and underwriting assistants similar is the skills required in each craft.

Skills like data entry and customer service are brought forth by employees in both careers. Loan closers earn higher education levels than underwriting assistants. Loan closers are more likely to graduate with a Master's Degree than underwriting assistant.

They are 0.9% more likely to earn a PhD. Insurance clerks earn higher levels of education than underwriting assistants. They are more likely to graduate with a Master's Degree and more likely to earn a PhD.

The loan specialist profession makes more money than the average salary of the underwriting assistants. Loan specialists make $4,380 more than underwriting assistants. Loan specialists and underwriting assistants earn the same educational levels.

They are 2.5% more likely to graduate with a Master's Degree. There are differences that are important to note even though a few skill sets overlap. An underwriting assistant might have more use for skills like "service standards" and "customer accounts".

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The Assistant to the Purchasing Manager

The assistant will give you information about the amount of insurance you will be covered for, and the premium you will be paying.

An Insurance Underwriting Assistant

A high school diploma or GED is required for an insurance underwriting assistant. Insurance underwriting assistants must be able to communicate with upper management on a regular basis. They must be very detail-oriented to spot problems with files.

Organizational and time-management skills are needed to maximize productivity. Most files are located on electronic databases, so computer skills are necessary. The earnings for an assistant in 2010 ranged from $29,203 to $55,475.

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Underwriter's Assistant: Managing Insurance Applications

An insurance application file is the primary responsibility of an underwriter's assistant. When an application is submitted, the assistant will usually review it and contact the agent or broker if there is anything missing. Once all items are in place, the assistant enters application information and other documents into a computer system for analysis or review by the underwriter.

The assistant is a key player in facilitating and managing relationships. The insurer's long-term success is dependent on renewal. The assistant usually sends out notices and invoices in a timely manner.

The insurer may have to cancel a policy. The assistant is responsible for sending cancellation notices to customers. The assistant will usually have a two or four-year degree in business, finance or a related field.

Underwriting Assistants

An assistant can work in a variety of industries. As an underwriting service assistant, you help the underwriters determine whether a customer or client qualifies for the services or products the organization offers. Ensuring that customers or clients meet eligibility requirements is your primary responsibility.

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An Insurance Career in Business Strategy

An efficient risk service is important to an insurance company as it helps determine whether or not it will be profitable for the company to cover a specific risk. The primary focus of an insurance company is profit after it has settled any claims. School leavers with a high-school degree with a technical focus can get into an insurance career, although employers may prefer candidates with a degree in a field such as law, economics, mathematics, or engineering. The ideal candidate would have experience with the insurance industry.

The Underwriting Assistants at a Fortune 500 Company

The average 40-hours-a-week schedule of the Underwriting assistants is Monday through Friday. The average annual salary of an underwriting assistant was $35,010 in 2008. Many companies offer additional benefits to their employees, such as health insurance plans, paid vacation and retirement plans.

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Underwriter Assistants: A Career Path in Insurance

Become an underwriter assistant if you want to work in the insurance field. Insurance professionals begin their careers as underwriter assistants, performing a variety of tasks, such as collecting information clients seeking insurance The career path of the underwriting assistant can lead to higher paying jobs in the insurance or mortgage industry.

A college degree is often required for entry-level positions, but an associate degree is sufficient. 55 percent of the underwriting assistants have a bachelor's degree, while 18 percent have a master's degree in a related field, according to the Salary Expert. The support for the agents is provided by the assistants.

They canswer questions about a billing error policy status on behalf of an agent. Under the guidance of the supervisors, they can analyze applications and screen applicants based on certain criteria. Insurers assistants can make sure that policy transactions are issued and recorded correctly, depending on the size of the company.

College courses, on-the-job training, and programs offered through associations are some of the things that a Underwriter assistant learns. Training includes assessment of various risk factors. You can stand out from the crowd if you get internship experience in the insurance and underwriting field.

The assistant must have knowledge about rating systems and work with different types of insurance. Those who want to be promoted into an underwiter position earn certifications. You can pursue the Charter Property and Casualty Underwriter credential.

A Results Oriented Professional with Experience in Accounting and Customer Service

A results oriented professional with a broad background and expertise in accounting, administrative assistant, and excellent customer service. A team player with outstanding communication and problem solving skills. Adapt to new technologies and procedures quickly.

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