Skills & Competencies for Underwriting Assistant

Underwriting Assistant job profile

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JOB SUMMARY for Underwriting Assistant

Provides support and assistance to underwriting staff.

JOB RESPONSIBILITIES for Underwriting Assistant

Performs administrative duties regarding new and renewal accounts, risk assessments, and loss runs and loss ratings. May assist underwriters with the computation of rates and premiums.

Underwriting Assistant SALARY RANGE

BASE 50%
$52,266
TOTAL 50%
$53,871
Job Level
A02
Job Code
FA06000562
Education/Degree
High School Diploma or Technical Certificate
Reports To
Supervisor

Underwriting Assistant Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Underwriting Assistant skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
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6 hard skills or competencies (industry competencies) for Underwriting Assistant

1 Industry Competency – Insurance Industry
Proficiency Level -1
Skill definition-Applying knowledge of the insurance industry to provide risk management services and protection to various individuals from financial loss.
Level 1 Behaviors
(General Familiarity)
Explains the policy conditions of various insurance contracts and products.
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Level 2 Behaviors
(Light Experience)
Provides prompt responses to clients’ insurance-related questions and concerns.
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Level 3 Behaviors
(Moderate Experience)
Utilizes various tools and technologies to optimize insurance claims turnaround cycles.
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Level 4 Behaviors
(Extensive Experience)
Provides recommendations for improving methods and procedures to enhance insurance claims handling.
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Level 5 Behaviors
(Mastery)
Leads the deployment of strategic approaches to address complex insurance risk management programs.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -1
Skill definition-Creating, executing, and adhering to state and federal laws governing insurance operations to ensure financial security and consumer protection.
Level 1 Behaviors
(General Familiarity)
Discusses the importance of insurance regulations in protecting clients' financial security and assets.
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Level 2 Behaviors
(Light Experience)
Gathers and interprets policy contracts to understand insurance legal and regulatory standards.
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Level 3 Behaviors
(Moderate Experience)
Maintains financial and market regulation to validate insurance's accounting methods and procedures.
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Level 4 Behaviors
(Extensive Experience)
Sets guidelines to promote fairness and transparency in financial markets in providing insurance products.
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Level 5 Behaviors
(Mastery)
Develops compliance and risk management standards to manage overall insurance legal and regulatory environment.
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3 Underwriting Assistant - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Assistant
Proficiency Level - 4
5 Competency for - Underwriting Assistant
Proficiency Level - 5

1 general skill or competency (Job family competency) for Underwriting Assistant

1 Job Family Competencies – Data Entry
Proficiency Level -2
Skill definition-Transcribing information into an electronic medium such as a computer or other electronic device.
Level 1 Behaviors
(General Familiarity)
Explains codes and instructions in performing data entry.
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Level 2 Behaviors
(Light Experience)
Conducts basic data entry tasks to ensure information accuracy and completion.
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Level 3 Behaviors
(Moderate Experience)
Uses various technologies in performing data entry transactions to improve the overall efficiency.
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Level 4 Behaviors
(Extensive Experience)
Facilitates timely entry of data into the system to correct data incompatibilities.
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Level 5 Behaviors
(Mastery)
Establishes data entry systems to detect data errors and initiate corrective action plans.
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3 Underwriting Assistant - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Assistant
Proficiency Level - 4
5 Competency for - Underwriting Assistant
Proficiency Level - 5

7 soft skills or competencies (core competencies) for Underwriting Assistant

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -1
Skill definition-A set of written instructions that describes the step-by-step activities to complete tasks in compliance with business standards and industry regulations.
Level 1 Behaviors
(General Familiarity)
Identifies our internal and external sources for the SOPs we need.
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Level 2 Behaviors
(Light Experience)
Participates in the implementation of new SOPs and enhancement of existing ones.
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Level 3 Behaviors
(Moderate Experience)
Modifies SOPs accordingly to reflect changes in our business practices and policies.
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Level 4 Behaviors
(Extensive Experience)
Optimizes the current SOP development and implementation processes.
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Level 5 Behaviors
(Mastery)
Leads cross-functional efforts to develop and implement SOPs across our organization.
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2 Core Competencies – Critical Thinking
Proficiency Level -2
Skill definition-Questioning, analyzing and evaluating various alternatives and situations to draw a rational conclusion independently.
Level 1 Behaviors
(General Familiarity)
Identifies the skills and traits needed for critical thinking.
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Level 2 Behaviors
(Light Experience)
Explains clearly to others the logical connection between ideas.
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Level 3 Behaviors
(Moderate Experience)
Uses analytical or creative methods to break down complex situations into component problems.
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Level 4 Behaviors
(Extensive Experience)
Leverages critical thinking to build, analyze and evaluate different points of view.
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Level 5 Behaviors
(Mastery)
Leads discussions of alternative options with different parties to make effective decisions.
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3 Underwriting Assistant - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Assistant
Proficiency Level - 4
5 Competency for - Underwriting Assistant
Proficiency Level - 5

Summary of Underwriting Assistant skills and competencies

There are 6 hard skills for Underwriting Assistant, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
1 general skills for Underwriting Assistant, Data Entry.
7 soft skills for Underwriting Assistant, Standard Operating Procedures (SOP), Critical Thinking, Attention to Detail, etc.
While the list totals 14 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Underwriting Assistant, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Critical Thinking, and be proficient in Attention to Detail.

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