Brand new to the insurance industry? Looking to get into Premium Audit? Look no further! The purpose of this job is to learn to conduct field audits to determine the actual exposures and premium to be charged for policy coverages to in order to drive revenue and increase customer retention to achieve business growth. Start your career in insurance today!
PURPOSE OF THE JOB
The purpose of this job is to learn to conduct field audits to determine the actual exposures and premium to be charged for policy coverages to in order to drive revenue and increase customer retention to achieve business growth.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Learns to conduct timely and accurate premium audits and service audits
Assists with audits on small to medium size accounts.
Learns to resolve audit disputes.
Working with Premium Auditors, develops correspondence for insureds, agents and Company personnel
Assists with audit reviews
Provides excellent customer service for the entire audit experience
Maintains communication with accounts and other constituencies throughout the audit
Provides technical assistance to reviewers and Underwriters as needed.
Provides current status of audit inventory on a regular basis to management.
Clarifies voluntary and physical audits by contacting insureds as needed.
Communicates with NCCI/ WCIRB regarding classification and technical issues.
Learns to determine actual exposures and premium to be charged for policy coverages
Assists with prioritization of audit assignments and conducts audits achieving both volume and quality standards.
Prepares detailed work papers and written correspondence in support of audit findings
May conduct interviews with the insured to obtain information regarding the insured's operations and business model to obtain a good working knowledge and analysis of the risk. Determines employee job classifications based on job role and responsibilities and exposure to hazard.
Remains informed of changes and current information relative to premium auditing through discussion and correspondence with experts and industry-related literature.
EDUCATION AND EXPERIENCE
Bachelor's degree from four-year college or university; or equivalent combination of education and experience.
No experience required.
CERTIFICATES, LICENSES, REGISTRATIONS
No certifications required.
KNOWLEDGE AND SKILLS
Intermediate working knowledge of MS Word, Excel and Outlook. Ability to read, analyze, and interpret technical journals, financial reports, or legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to add, subtract, multiply, and divide using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs. Ability to calculate and apply concepts of basic algebra and geometry. Ability to apply principles of logic to a wide range of intellectual and practical problems.
Position may require travel – up to 20%. In conducting audits and performing other tasks, works with computers and computer screens for multiple hours per day; must be able to lift and carry 25-40 pounds. Position is sedentary approximately 75% of time. Must be able to drive.
This position maps to the individual contributor level. Additional competencies required: None.
This job is a combination of working from home and working in the insured’s clerical office areas. Requires travel (driving and flying) to insureds’ locations to conduct audits. Customer worksites may vary in the environment.
Telecommuting is allowed.
About ICW Group
Based in San Diego, ICW Group Insurance Companies is the largest group of privately held insurance companies domiciled in California. Quoting more than $3 billion annually, ICW Group represents a group of Property, Auto and Workers’ Compensation insurance carriers, including Insurance Company of the West and Explorer Insurance Company.
ICW Group is recognized nationally as an industry leader in helping policyholders achieve fewer and less costly claims, and is committed to meeting the needs of its policyholders and elevating the trusted agents and brokers who advise them. The company offers its insurance products through an independent network of experienced and professional agents and brokers.