Underwriting Assistant Onboarding Checklist

In this article, we’ll look at the best practices for onboarding your new Underwriting Assistant. We’ll look at the employee onboarding process/steps you can add to your own reusable Underwriting Assistant checklist.

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Underwriting Assistant Onboarding Process

Are you looking for help setting up a staff orientation process so that when your new Underwriting Assistant starts their role, they can learn about their responsibilities and your company as quickly as possible? Whether you’re keen to use buddy onboarding, want to automate your Insurance onboarding experience or just need an onboarding checklist for your new Underwriting Assistant, you’re in the right place. We’ve put together a sample Underwriting Assistant onboarding checklist below and have created onboarding templates & resources to help.

Underwriting Assistant Onboarding Checklist

1. Introduction to company policies and procedures: The underwriting assistant should receive a comprehensive overview of the company’s policies and procedures, including guidelines for underwriting, risk assessment, and compliance. This task is typically performed by the HR department or a senior underwriter.

2. Familiarization with underwriting software: The underwriting assistant needs to become proficient in using the company’s underwriting software. This includes learning how to input and retrieve data, generate reports, and navigate through the system. The IT department or a designated software trainer usually provides training for this task.

3. Understanding underwriting guidelines: The underwriting assistant should be familiarized with the company’s underwriting guidelines, which outline the criteria for accepting or rejecting insurance applications. This task is typically performed by a senior underwriter or the underwriting manager.

4. Learning about insurance products: The underwriting assistant should receive training on the various insurance products offered by the company. This includes understanding the coverage, exclusions, and limitations of each product. The training may be conducted by the underwriting manager or a product specialist.

5. Shadowing underwriters: To gain practical knowledge and experience, the underwriting assistant should shadow experienced underwriters. This involves observing their decision-making process, reviewing applications, and understanding how they assess risks. Senior underwriters or the underwriting manager usually oversee this task.

6. Reviewing underwriting files: The underwriting assistant should review existing underwriting files to understand the documentation required, the process followed, and the decisions made. This task helps the assistant become familiar with the company’s file management system and underwriting practices. It is typically performed independently, with occasional guidance from a senior underwriter.

7. Assisting with risk assessments: The underwriting assistant may be assigned to assist underwriters in conducting risk assessments. This involves gathering and analyzing data, verifying information, and preparing reports. The underwriting manager or a senior underwriter supervises this task.

8. Collaborating with other departments: The underwriting assistant should collaborate with other departments, such as claims, sales, and customer service, to ensure smooth operations and effective communication. This task involves attending meetings, responding to inquiries, and coordinating information sharing. The underwriting manager or a designated department head oversees this collaboration.

9. Participating in training programs: The underwriting assistant should participate in training programs offered by the company or external organizations to enhance their knowledge and skills. These programs may cover topics such as risk management, industry trends, and regulatory changes. The HR department or the underwriting manager facilitates this task.

10. Developing relationships with agents and brokers: The underwriting assistant should establish and maintain relationships with agents and brokers who submit insurance applications. This involves providing assistance, answering queries, and ensuring timely communication. The underwriting manager or a senior underwriter may guide the assistant in building these relationships.

11. Understanding compliance requirements: The underwriting assistant should receive training on compliance requirements, including anti-money laundering regulations, data protection laws, and industry-specific regulations. This task is typically performed by the compliance department or a designated compliance officer.

12. Learning about company culture and values: The underwriting assistant should be introduced to the company’s culture, values, and mission. This includes understanding the company’s commitment to customer service, teamwork, and ethical practices. The HR department or a senior executive usually conducts this orientation.

13. Reviewing underwriting manuals and reference materials: The underwriting assistant should review underwriting manuals and reference materials provided by the company. These resources contain detailed information on underwriting processes, guidelines, and best practices. The assistant may seek clarification from a senior underwriter or the underwriting manager if needed.

14. Attending team meetings and training sessions: The underwriting assistant should actively participate in team meetings and training sessions to stay updated on company policies, industry trends, and procedural changes. These meetings are typically led by the underwriting manager or a senior underwriter.

15. Setting performance goals and expectations: The underwriting assistant should work with their supervisor to set performance goals and expectations. This includes discussing key performance indicators, targets, and areas for improvement. The underwriting manager or a senior underwriter typically guides this task.

16. Obtaining necessary licenses and certifications: Depending on the jurisdiction and specific requirements, the underwriting assistant may need to obtain relevant licenses or certifications to perform their duties. This task may involve completing training courses, passing exams, and submitting applications to regulatory bodies. The HR department or the underwriting manager can provide guidance on this process.

17. Understanding the claims process: The underwriting assistant should gain a basic understanding of the claims process to effectively collaborate with the claims department. This involves learning about claims handling procedures, documentation requirements, and the underwriter’s role in the process. The claims manager or a senior claims adjuster can provide guidance on this task.

18. Participating in underwriting audits: The underwriting assistant may be involved in underwriting audits conducted by internal or external auditors. This task requires providing requested documentation, answering questions, and ensuring compliance with audit recommendations. The underwriting manager or a designated audit coordinator oversees this task.

19. Building knowledge of industry trends: The underwriting assistant should stay updated on industry trends, emerging risks, and regulatory changes that may impact underwriting practices. This can be achieved through reading industry publications, attending webinars, and participating in professional associations. The underwriting manager or a senior underwriter may recommend relevant resources.

20. Seeking feedback and continuous improvement: The underwriting assistant should actively seek feedback from their supervisor and colleagues to identify areas for improvement and enhance their skills. This involves being open to constructive criticism, implementing suggested changes, and continuously striving for professional growth. The underwriting manager or a senior underwriter can provide guidance and feedback

Setting Up Your Employee Onboarding Process

From reading through the items in the example Underwriting Assistant checklist above, you’ll now have an idea of how you can apply best practices to getting your new Underwriting Assistant up to speed and working well in your Insurance team. Scroll up to see the link to our onboarding templates & resources or get in touch to discuss getting help setting up your systems and processes in this area.

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