Policy Rater

Company DetailsA constellation in the southern hemisphere, Vela means “sails of a ship” in Latin. In 1996, Vela Insurance Services began operations writing excess and surplus lines casualty business. In the beginning, the primary focus was on construction and manufacturing risks but expanded to write a variety of general casualty and professional liability classes. Today, we offer both national service and local knowledge to our exclusive wholesale broker network and the businesses they serve.ResponsibilitiesTo issue new business & renewal binders, policies, endorsements, and cancellations using the Company Policy System, Imaging System and other system supported tools. Follow up on subjectivity requirements and ensure underwriting files are complete. Customer service contact with brokers to develop information needed to process work, solve problems and maintain good broker relations.* Collects, reviews, and enters rating and other information into the system to provide quotes to underwriters for new business, endorsements, renewals, cancellations and reinstatements* Contacts brokers and follows up for missing information* Reviews and processes endorsements* Promotes Vela through positive customer focus and sales and develops relationships with brokers and staff to solicit new business opportunities* Follow up and review of insuring documents such as signed & dated Acord Applications, Vela Contractor Questionnaires, Vela Products Supplement, Subcontractor Agreement, inspections, FEIN / Website information, TRIPRA form, currently valued loss runs, Surplus Lines information and NJ transaction numbers.* Ensure underwriting files are complete* Work with auditors when neededQualifications* Associates or Bachelor’s degree preferred* 1-5 years’ experience in insurance or related* Excellent math, analytical and problem-solving skills* Excellent communication skills, written and verbal.* Proficient with Microsoft Word, Excel and Outlook.* Must be fully vaccinated and remain fully vaccinated against COVID-19*, unless prohibited by lawAdditional Company DetailsThe Company is an equal employment opportunity employerAdditional RequirementsPer the CDC, fully vaccinated means at least 2 weeks after (1) a second dose in a 2-dose series, or (2) a single-dose vaccine, and this status and definition applies to COVID-19 vaccines currently authorized for emergency use or approved by the U.S. Food and Drug Administration. Responsibilities To issue new business & renewal binders, policies, endorsements, and cancellations using the Company Policy System, Imaging System and other system supported tools. Follow up on subjectivity requirements and ensure underwriting files are complete. Customer service contact with brokers to develop information needed to process work, solve problems and maintain good broker relations. – Collects, reviews, and enters rating and other information into the system to provide quotes to underwriters for new business, endorsements, renewals, cancellations and reinstatements – Contacts brokers and follows up for missing information – Reviews and processes endorsements – Promotes Vela through positive customer focus and sales and develops relationships with brokers and staff to solicit new business opportunities – Follow up and review of insuring documents such as signed & dated Acord Applications, Vela Contractor Questionnaires, Vela Products Supplement, Subcontractor Agreement, inspections, FEIN / Website information, TRIPRA form, currently valued loss runs, Surplus Lines information and NJ transaction numbers. – Ensure underwriting files are complete – Work with auditors when needed