Underwriting Intern
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Job Description
About company
New Mexico Mutual is an organization operating within the workers’ compensation insurance sector. Its core values include Service Excellence, Trust, Ownership, One Team, and Boldness in thought and action, which guide its mission. The company maintains general office conditions with light physical demands and requires employees to adhere to all safety rules and regulations, including building security. It emphasizes a safe and efficient operating environment. New Mexico Mutual maintains a drug-free environment, necessitating drug testing prior to employment and after any work-related accident. Employees may be exposed to VDT screens.
About job description, detailed
This is an Underwriting Intern position within the Underwriting Department, reporting directly to the Underwriting Manager.
The Position Summary outlines that the intern will gain knowledge in workers’ compensation insurance and the fundamental aspects of underwriting. This includes learning how underwriters assess employer operations and hazards to accurately and competitively develop appropriate premiums. The intern will apply training, underwriting guidelines, and predictive analytics tools to evaluate and service policies, respond to customer inquiries, issue endorsements, and cultivate relationships with policyholders and agent partners.
Essential Functions of the role include:
• Evaluating accounts to determine risk selection within a defined authority level.
• Determining account pricing, terms, and conditions in compliance with industry regulations.
• Appropriately selecting risk based on the organization’s underwriting risk appetite.
• Documenting justification for underwriting decisions.
• Obtaining and organizing relevant underwriting information.
• Reviewing and processing renewal policies within given authority.
• Reviewing and processing endorsements.
• Reviewing and processing cancellations and re-writes.
• Providing timely and professional communication to customers.
• Performing business sector reviews by agency, policy size, class code, and region to report on profitability, growth opportunities, and predictive model performance.
Job Qualifications are as follows:
• Education: Candidates must be pursuing a bachelor’s or master’s degree.
• Experience: Desired traits include being highly motivated and proficient in working within a close-knit, collaborative environment. Candidates should demonstrate the ability to utilize information technology, data, and other resources to identify solutions and innovations.
• Required Skills/Abilities: The ideal candidate will be highly motivated, work well in a team environment, and be capable of strategic and critical thinking. They should be able to leverage information technology, data, and other resources for solutions and innovations. A strong desire and curiosity to learn the insurance business are crucial. Excellent written, verbal, and interpersonal communication and professional skills are required, along with compatibility with New Mexico Mutual’s Corporate Values.
• Specialized Knowledge, Licenses, Etc.: Demonstrated proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook) is necessary.
A Positive Attitude is also a key aspect, requiring the development and maintenance of positive working relationships with team members, customers, coworkers, and management through effective communication and collaborative skills.
