Binding Operations Coordinator

$37,440 - $49,920/Yr

Ryan Specialty Group

Full-time - Entry Level

Insurance Carriers and Related Activities

About the position

The Binding Operations Coordinator plays a crucial role in the insurance industry by managing the binding process of insurance policies. This position ensures compliance with underwriting guidelines and regulatory standards while facilitating communication between underwriters and brokers. The coordinator is responsible for inputting necessary information into underwriting applications, assisting with policy endorsements, and maintaining organized records of all binding transactions.

Responsibilities

• Assists the process of binding insurance policies, ensuring accuracy and compliance with binding underwriting guidelines and regulatory requirements.
• Administers underwriting applications with the information necessary to rate, document and issue accurate and compliant policies.
• Assists with new business submission with directions from the Binding Underwriter to prepare and market to carrier.
• Coordinates between Underwriters and brokers by responding to inquiries, works with brokers to obtain information needed to quote, and provides revised quotes as requested.
• Underwrites policy endorsements, including changes to coverage, limits, or policy terms, ensuring accuracy and timely implementation.
• Maintains comprehensive and organized records of all binding transactions and related documentation, including policy details, endorsements, and client information.
• Communicates with clients to collect required information, explains policy terms and conditions, and addresses any questions or concerns related to the binding process.
• Prepares renewal files for the renewal underwriters with all proper documentation and solicits renewal submissions from agents in a timely and accurate fashion.
• Executes the work assigned by underwriters and underwriting assistants when they are out of the office or otherwise unavailable.

Requirements

• Minimum of 1 year of work experience in Insurance Industry or Binding Underwriting or related field.
• High school diploma is required.
• Licenses & Certifications: Minimum requirements for state P&C and/or surplus line licenses.

Nice-to-haves

• Related industry experience is highly preferred.

Benefits

• Paid time off for company holidays, vacation, sick and personal days.
• Paid parental leave.
• Mental health services.
• Eligibility for bonuses and benefits for full-time roles.