What does an underwriting assistant do?
An underwriting assistant provides additional support to the underwriter in determining whether clients can qualify for insurance policies, products, mortgage, loans, or other financial services. Job tasks could vary, but often include administrative duties, as well as organizing and arranging loan approval packages. This entails reviewing and gathering financial and statistical information. It also involves communicating with clients to get the necessary information, such as gathering credit history and other relevant background information to complete the screening process and other related transactions.
Underwriting assistant responsibilities
Here are examples of responsibilities from real underwriting assistant resumes:
- Create and manage a file documentation checklist for all UW's and UT's.
- Manage midterm transactions of assign book of business including: endorsements, cancellations and non-renewals.
- Process documentation within manage database systems and ImageRight system for the legal binding of commercial insurance risk.
- Assist underwriters in expediting new business, processing endorsements and/or modifying existing policies while achieving broker relationships.
- Request ledger pages on the AS/400 and review for accuracy.
- Specialize in processing commercial, development, residential, and SBA loans.
- Classify vehicles as appropriate, verify cost new, evaluate MVRs and review driver profiles.
- Search for title, UCC liens, and insurance for commercial properties to process loans.
- Create ARF and complete missing or request information with recommendation make to UW for their review.
- Issue quotes and finish policies for all lines of business in compliance with ISO and state rules.
- Start in rating department processing new, renewal, and endorsement rating for Texas and ISO states.
- Initiate and supervise a high school internship for assistance in compiling files for submission to the SBA.
- Analyze requests for endorsements, including loss history, MVRs, and state documents, and adjust coverage.
- Review credit, analyze application data, and calculate ratios (debt, ltv) to determine loan program compliance.
- Process loan application requests for lines of credit and term loans; order property & UCC searches, TRW credit checks.
Underwriting assistant skills and personality traits
We calculated that 15% of Underwriting Assistants are proficient in Insurance Policies, Data Entry, and Loss Runs. They’re also known for soft skills such as Organizational skills, Analytical skills, and Detail oriented.
We break down the percentage of Underwriting Assistants that have these skills listed on their resume here:
- Insurance Policies, 15%
Reviewed commercial insurance policies for renewal with Underwriter, including verifying accuracy of application and identifying appropriate renewal procedure.
- Data Entry, 10%
Perform data entry of computerized policy formats to generate certificates of insurance, endorsements, policies and other insurance documents.
- Loss Runs, 9%
Solicited renewals and ordered loss runs and experience modifier worksheets.
- Strong Analytical, 5%
Developed broker and reinsurance relationships to gain strong analytical skills and attention to detail.
- Insurance Applications, 5%
Examine correspondence from retail agent such as original insurance applications and other company documents to determine if an endorsement is needed.
- Underwriting Process, 5%
Provide administrative support to multiple underwriters, including monitoring email correspondence, and completing administrative tasks to expedite the underwriting process.
Most underwriting assistants use their skills in "insurance policies," "data entry," and "loss runs" to do their jobs. You can find more detail on essential underwriting assistant responsibilities here:
Organizational skills. The most essential soft skill for an underwriting assistant to carry out their responsibilities is organizational skills. This skill is important for the role because "financial clerks must be able to arrange files so they can find them quickly and efficiently." Additionally, an underwriting assistant resume shows how their duties depend on organizational skills: "assist underwriters with operational and organizational needs. "
Communication skills. underwriting assistant responsibilities often require "communication skills." The duties that rely on this skill are shown by the fact that "financial clerks should be able to explain policies and procedures to colleagues and customers." This resume example shows what underwriting assistants do with communication skills on a typical day: "worked with automated approval software data entry accuracy verbal and written communication verified documentation attached to the application"
The three companies that hire the most underwriting assistants are:
- Everest Holdings LLC19 underwriting assistants jobs
- BERKLEY TECHNOLOGY SERVICES18 underwriting assistants jobs
- W. R. Berkley15 underwriting assistants jobs
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Compare different underwriting assistants
Underwriting assistant vs. Loan closer
A loan closer is primarily in charge of handling and closing loan documentation, ensuring accuracy and smooth transactions. A loan closer's responsibilities revolve around liaising with clients to guarantee that they adhere to every term in the contract, preparing necessary reports and documents, monitoring payment progress, and ensuring that they have a deep understanding of the obligations under the contract. Furthermore, it is essential to maintain records of all transactions and assist clients, all while implementing the company's policies and regulations.
There are some key differences in the responsibilities of each position. For example, underwriting assistant responsibilities require skills like "insurance policies," "loss runs," "strong analytical," and "insurance applications." Meanwhile a typical loan closer has skills in areas such as "customer service," "excellent organizational," "trid," and "va." This difference in skills reveals the differences in what each career does.
The education levels that loan closers earn slightly differ from underwriting assistants. In particular, loan closers are 1.2% more likely to graduate with a Master's Degree than an underwriting assistant. Additionally, they're 0.5% more likely to earn a Doctoral Degree.Underwriting assistant vs. Insurance examining clerk
A loan specialist is in charge of processing loans to make transactions easier for the clients. They usually work in banks, lending firms, and other financial institutions. One of their primary responsibilities is to guide clients to understand what program works best for them, assist in filling out forms, gathering requirements, and verifying authenticity. There are also instances where a loan specialist must discern whether a client can uphold financial obligations using the information collected. Furthermore, it is also their responsibility to produce and submit reports to creditors or lenders.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that underwriting assistant responsibilities requires skills like "insurance policies," "data entry," "loss runs," and "strong analytical." But an insurance examining clerk might use other skills in their typical duties, such as, "customer service," "law enforcement," "powerpoint," and "telephone calls."
Average education levels between the two professions vary. Insurance examining clerks tend to reach similar levels of education than underwriting assistants. In fact, they're 3.4% more likely to graduate with a Master's Degree and 0.5% less likely to earn a Doctoral Degree.Underwriting assistant vs. Loan specialist
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from underwriting assistant resumes include skills like "insurance policies," "data entry," "loss runs," and "strong analytical," whereas a loan specialist is more likely to list skills in "loan applications," "customer service," "outbound calls," and "mortgage loans. "
Most loan specialists achieve a similar degree level compared to underwriting assistants. For example, they're 1.3% more likely to graduate with a Master's Degree, and 0.0% more likely to earn a Doctoral Degree.Underwriting assistant vs. Underwriting clerk
Even though a few skill sets overlap between underwriting assistants and underwriting clerks, there are some differences that are important to note. For one, an underwriting assistant might have more use for skills like "strong analytical," "underwriting process," "professional customer service," and "underwriting support." Meanwhile, some responsibilities of underwriting clerks require skills like "insurance coverage," "dmv," "proofread," and "word processing. "
In general, underwriting clerks hold similar degree levels compared to underwriting assistants. Underwriting clerks are 1.0% more likely to earn their Master's Degree and 0.3% less likely to graduate with a Doctoral Degree.Types of underwriting assistant
Updated January 8, 2025
