What does an Underwriting Assistant do?
Underwriting assistants provide support and assistance to underwriting staff; they work for the underwriting department, organize and arrange loan approval packages, review consumer and residential loan applications, and gather credit history and other relevant background information, including cash flow records and debt-to-income ratio data. Underwriting assistants assist with the completion of rates and premiums. They perform administrative duties regarding new and renewal accounts, risk assessments, loss runs, and lost ratings.
Underwriting assistants provide research and clerical support to determine whether clients qualify for insurance policies, loans, or other financial services. They gather financial and statistical information and letters with the information provided by an underwriter. Underwriting assistants need a bachelor's degree in finance or related fields.
- Provide technical support or training to agents/brokers, team members and other key stakeholders in rating and policy processing procedures.
- Type, file, answer phone, greets and assists customers and prospective customers.
- Gather, review, and ensure the accuracy of information to determine proper processing for all segments of business.
- Perform various pre-underwriting activities for accounts, such as qualifying requests gather analyze data, selecting rates and forms for coverage, and entering info into database for pricing reporting.
- Basic knowledge of company insurance products; support underwriting and distribution activities by explaining new or revised products and processes to agents and brokers.
- Partner with underwriters and distribution to engage key agencies and provide insights.
- Assist customers with routine problems and resolve or refers to other departments or supervisor.
- Prepare loan documentation and follow up to ensure conformity to lending processes.
- Bachelor's Degree in business.
- Experience working with spreadsheets.
- Exhibit strong time management and problem solving skills.
Underwriting Assistant Salaries
Average Base Pay
Underwriting Assistant Career Path
Learn how to become an Underwriting Assistant, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Average Years of Experience
Underwriting Assistant Insights
“They have many experienced professionals to learn from and who showed great interest in my individual career development.”
“Good job to gain skills and knowledge and experience to move forward in your career.”
“I have been given opportunities to advance my career that I am so grateful for!”
“I started off in a call center entry level position and was given the opportunity to advanced my career within the company.”
“love the career development options and awareness”
“Good work life balance is encouraged.”
“19: State Farm really cares about the safety of its employees during this time.”
“If an underwriting assistant job is offered to you I would not recommend taking it.”
Underwriting Assistant Interviews
Frequently asked questions about the role and responsibilities of an Underwriting Assistant
- Loan Officer
- Loan Processor
- Mortgage Consultant