Underwriting Assistant

6 months ago

London, United Kingdom ASCOT GROUP Full time

**Job Purpose**:
To provide complete underwriting support for the Property Underwriting teams.

**Detailed Duties**:
Underwriting
- Where possible be present at all stages of the insurance broke
- Entry of mandatory risk details onto S2000
- Ensure insured name is correct on S2000
- Completion of Electronic Front Sheet (EFS)
- Ensure inclusion of Technical Premium and Rate Movement onto S2000
- Make sure relevant documentation is scanned against the S2000 reference
- Support of Underwriters and Assistants in ensuring overall Syndicate SLA’s are maintained
- Scanning relevant Underwriter sign off when required

Compliance
- SLAs for slips and endorsements
- Assist with Lloyds licencing requirements
- Send relevant slips for pre-bind check and follow up any fails that may occur with the underwriter/broker
- Assist with completion of sanctions checks
- Completion of annual compliance training
- Compliance bulletin review and action
- Assist with ensuring downgrade clauses comply with Ascot’s policy and highlighted correctly on front sheet.
- Understanding of current RI purchase procedures.

Facultative Reinsurance Purchasing
- Assist with the purchasing of reinsurance placements and any issues that may arise.
- Make sure that any endorsements that affect the facultative reinsurance are notified to the relevant team

**Renewals**
- Prepare renewals in advance
- Ensure that all renewals are actioned including all non-renewed premiums

Aggregates
- Make sure the correct aggregation boxes have been ticked on front sheets, and if changed then the right reason for aggregation change selected.
- Ensure all schedules are available and passed to Capita at the time of underwriting
- Where required chase the broker for outstanding schedules.

Attendance
- Attendance at the monthly administration and Claims meetings when required

Credit Control
- Review the weekly credit control report and action. For risks over 31 days overdue refer to the underwriter. When applicable send relevant comments on the chasing of premium to Xchanging. Review inward XL premium adjustments.

**Workflow Management**
- Review of partial policies
- Un-scanned slips
- Promised lines
- Quotations

**Reporting**
- Claims data - reporting discrepancies between submissions and S2000 data
- Aggregation reports
- Quarterly class reports
- UMC Reports
- UAS Reports
- Review and action of exception reports

Client Management (when requested)
- Attend client and broker meetings.
- Take notes and publishing to S2000.
- Ensure action points are followed up.

Facility Management
- Chase and process relevant bordereaux
- Reconciliation of estimated premium to actual
- Review of signed premium against estimated premium
- Assist in scanning of delegated underwriting form.

**Query Resolution**
- Slips within SLA
- Endorsements
- Aggregation
- USM’s
- BST
- Capita
- Xchanging

**Working Knowledge of Systems**
- IMR
- Crystal/Lloyds QA Tool
- S2000 (Subscribe)
- Swordfish
- GAAP

**Other duties**
- Ad-hoc duties as directed by line management.
- Implementation of new procedures.

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