Underwriting Assistant - Political Risk, Credit & Bond
AXA, Chicago, IL, United States
Underwriting Assistant Commercial Bond
The Political Risk, Credit and Bond (PRCB) Unit at AXA XL adds insight and expertise to solid analytics to provide our customers with top tier underwriting solutions, valuable risk engineering, and global claims capabilities. The PRCB team handles Political Risk insurance, Credit insurance covering the non-payment of debt obligations; and a newly established Commercial Bonding team. The Commercial Bond team is a growing and dynamic group working with large corporations providing commercial bonding solutions around the globe. We are looking for a proactive, analytical, and team oriented Underwriting Assistant to help support this new product line. As part of the PRCB Middle Office team, the UA will perform tasks that directly support the Underwriters. The UA will support underwriting activities associated with reviewing and helping analyze new submissions and renewals, electronic file maintenance, as well as managing midterm changes in an accurate and timely manner. The UA must understand and effectively utilize internal corporate systems, and provide quality service to both internal and external customers. What will your essential responsibilities include? Perform tasks to directly support the underwriting staff during the submission process through the acquired account stage, and into account maintenance once acquired. Liaise with Underwriters, Brokers as needed to communicate account status and complete outstanding subjectivities Liaise with Underwriters to confirm bond support and execution as well as policy processing instructions for both new bonds and midterm changes. Ensuring electronic Client and Distribution system accurately reflects account status and notes to/from the Underwriters and Broker discussions. Liaise with Producer Administration in appointing new brokers for Commercial Bond to AXA XL. Ensure all bond transactions are processed in an accurate and timely manner. Liaise and collaborate with Global Shared services as needed to ensure that the Underwriting process is completed accurately and within process timelines. Act as back up to peers and supervisor as needed for submissions, Powers-of-Attorney administration, including performing broker/account clearance, keeping line of business tools current and accurate filing of account information on submissions received from external customers in a timely manner and in accordance with guidelines. Generate and maintain monthly reports including but not limited to: Bond line sheets, Account summary reports, and premium bookings. Support Head of Commercial bond with various reporting requirements as requested. Assist with Account Receivable collections when required Participate in projects within Global Lines Middle office as PRCB Bond Subject Matter Expert, or projects requested by Underwriting team or Global Operations Manager. Works with peers to establish working knowledge and understanding of other PRCB product lines. Manage and prioritize workloads to meet due dates You will report to PRCB Operations Manager. What you'll bring We're looking for someone who has these abilities and skills: Bachelor's degree and two to four years of commercial insurance (Surety / Bonding / Financial lines preferred) experience and/or training or equivalent combination of education and experience. Strong written and verbal communication skills and the ability to negotiate and effectively communicate a viewpoint. Proven analytical, organizational and problem solving skills. Proven prioritization and time management skills with accurate results. Strong technical skills with Microsoft Office (Excel, Outlook, Word required) and other IT systems. Ability to work effectively in a team setting as well as to work independently in a fast paced environment requiring good judgment. General interest in Insurance industry and International Business affairs. Strong demonstration of initiative, interpersonal skills and a professional demeanor are critical. Client service experience and focus. Who we are AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it. How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business ? property, casualty, professional, financial lines and specialty. With an innovative and flexible approach to risk solutions, we partner with those who move the world forward. What we offer Inclusion AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That's why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential. It's about helping one another and our business to move forward and succeed. Sustainability At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called "Roots of resilience", focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
The Political Risk, Credit and Bond (PRCB) Unit at AXA XL adds insight and expertise to solid analytics to provide our customers with top tier underwriting solutions, valuable risk engineering, and global claims capabilities. The PRCB team handles Political Risk insurance, Credit insurance covering the non-payment of debt obligations; and a newly established Commercial Bonding team. The Commercial Bond team is a growing and dynamic group working with large corporations providing commercial bonding solutions around the globe. We are looking for a proactive, analytical, and team oriented Underwriting Assistant to help support this new product line. As part of the PRCB Middle Office team, the UA will perform tasks that directly support the Underwriters. The UA will support underwriting activities associated with reviewing and helping analyze new submissions and renewals, electronic file maintenance, as well as managing midterm changes in an accurate and timely manner. The UA must understand and effectively utilize internal corporate systems, and provide quality service to both internal and external customers. What will your essential responsibilities include? Perform tasks to directly support the underwriting staff during the submission process through the acquired account stage, and into account maintenance once acquired. Liaise with Underwriters, Brokers as needed to communicate account status and complete outstanding subjectivities Liaise with Underwriters to confirm bond support and execution as well as policy processing instructions for both new bonds and midterm changes. Ensuring electronic Client and Distribution system accurately reflects account status and notes to/from the Underwriters and Broker discussions. Liaise with Producer Administration in appointing new brokers for Commercial Bond to AXA XL. Ensure all bond transactions are processed in an accurate and timely manner. Liaise and collaborate with Global Shared services as needed to ensure that the Underwriting process is completed accurately and within process timelines. Act as back up to peers and supervisor as needed for submissions, Powers-of-Attorney administration, including performing broker/account clearance, keeping line of business tools current and accurate filing of account information on submissions received from external customers in a timely manner and in accordance with guidelines. Generate and maintain monthly reports including but not limited to: Bond line sheets, Account summary reports, and premium bookings. Support Head of Commercial bond with various reporting requirements as requested. Assist with Account Receivable collections when required Participate in projects within Global Lines Middle office as PRCB Bond Subject Matter Expert, or projects requested by Underwriting team or Global Operations Manager. Works with peers to establish working knowledge and understanding of other PRCB product lines. Manage and prioritize workloads to meet due dates You will report to PRCB Operations Manager. What you'll bring We're looking for someone who has these abilities and skills: Bachelor's degree and two to four years of commercial insurance (Surety / Bonding / Financial lines preferred) experience and/or training or equivalent combination of education and experience. Strong written and verbal communication skills and the ability to negotiate and effectively communicate a viewpoint. Proven analytical, organizational and problem solving skills. Proven prioritization and time management skills with accurate results. Strong technical skills with Microsoft Office (Excel, Outlook, Word required) and other IT systems. Ability to work effectively in a team setting as well as to work independently in a fast paced environment requiring good judgment. General interest in Insurance industry and International Business affairs. Strong demonstration of initiative, interpersonal skills and a professional demeanor are critical. Client service experience and focus. Who we are AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it. How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business ? property, casualty, professional, financial lines and specialty. With an innovative and flexible approach to risk solutions, we partner with those who move the world forward. What we offer Inclusion AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That's why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential. It's about helping one another and our business to move forward and succeed. Sustainability At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called "Roots of resilience", focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.