Position Summary
The Underwriting Associate is part of our Ryan Financial Lines group out of Miami that provides (Re)insurance solutions for Latin America and the Caribbean.
The Underwriting Associate is responsible for ensuring the accuracy of existing policy information for renewals, communicating effectively with clients for information gathering, and supporting the underwriting process through precise documentation. The role conducts risk assessments and audits for insurance applications, calculates premium and generates reports. They ensure strict adherence to company policies, industry regulations, and compliance standards in all underwriting activities. The individual will have the opportunity to collaborate with both external markets as reinsurance brokers and internal business units such as Claims, Underwriting, Actuarial, Claim and Finance Departments.
What will your job entail?
Responsibilities:
- Support/assist the Senior Underwriting team with both new and renewal account quotations, implementation and management.
- Communicate directly with reinsurance brokers to gather necessary information to analyze risks, resolves inquiries, and ensures a smooth renewal and issuance process.
- Enter submissions in IMS and keep status updated.
- Prepare and organize underwriting analysis documentation and work-ups / raters for review with the Sr. Underwriting team.
- Follow up on New Business quotes with reinsurance brokers.
- Analyze portfolio ahead of renewal of each individual policy (ensure no subjectivity pending and analyze premium payment status)
- Work in conjunction with the Reinsurance Analyst and Finance Area on premium payment status.
- Work in conjunction with the Reinsurance Claim Analyst to get updated claim/loss run for each policy ahead of its renewal.
- Follow-up on Subjectivities with reinsurance brokers for both Renewals and New Business.
- Build and maintain update the Monthly activity bordereaux. This includes building and maintaining accurate and precise Data Base and renewals and New Business to feed the Monthly Estimate process.
- Participate to and support the annual budgeting process.
- Develop and maintain strong relationships with brokers to facilitate smooth accounts handling, from quoting to inception as well as for any mid-term request/adjustments.
- Identify areas for process improvements regarding all aspects of the job
- Complete appropriate compliance functions to ensure adherence to the ethical and financial integrity of transactions.
- Participate in the conduct of audits-compiling documentation and additional explanation where necessary.
Skills, Knowledge & Abilities:
- Requires fluency in Spanish, demonstrating proficiency in reading and writing.
- Knowledge of insurance and claims principles practices and procedures.
- Good interpersonal and communication skills. Ability to effectively interact with all levels of Ryan Financial Lines’ internal and external business partners.
- Ability to work independently.
- Good analytical and problem-solving skills.
- Ability to exercise independent judgement and effectively resolve reinsurance issues.
- Knowledge of Microsoft Office Suite as well as other business-related software.
Work Experience & Education:
- Bachelor's degree required: preferably in Financial or Insurance/Risk Management disciplines.
- Experience in insurance/(re)insurance at a carrier or brokerage firm preferred.
- Applicable professional designations, or related coursework desirable
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 $68,000.00 - $85,000.00 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 HR@Ryansg.com
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.
