Premium Audit Coordinator

Job Summary

The Premium Audit Coordinator is responsible for calculating and developing the earned premium for coverages provided on expiring commercial lines policies with auditable exposure (e.g., General Liability, Employer's Liability, Auto, Worker's Comp.) The role manually determines and enters premiums and statistical information for annual audits, cancellation audits and final reporting form audits on the Policy Administration System and related Premium Audit Software and office programs.

Job Responsibilities

• Calculates and develops the earned premium for coverages provided on expiring commercial lines policies with auditable exposure (e.g. Worker's Compensation, General Liability, Composite Auto, etc.).
• Examines, makes decisions on audit worksheets, and completes the necessary tasks on Premium Audit software to determine premiums for actual exposures.
• Performs calculations needed to enter the manual and automated commercial premiums and exposures along with statistical information on audits and audit cancellations on the Policy Administration system.
• Researches and manually calculates rates and premiums for added class codes on manual audits, or any audit with a mid-term change and composite audits.
• Analyzes information submitted by the insured, validates, then enters reporting form dailies into Policy Administration System.
• Evaluates the audited figures to determine the impact to the current term.
• Completes an endorsement if the policy meets defined criteria and refers major changes in exposures and/or classifications to the appropriate underwriter.
• Learns and maintains a working knowledge of all current and previous rules and regulations required for every state and region.
• Researches and concludes audit revision requests or refers to the Premium Audit Senior Analyst / Specialist and enters pertinent information such as underwriting instructions, agent concession, or specific reason for rule change on the Premium Audit software.
• Reviews correspondence from Insurance Bureaus and determines what changes need to be made to any audit that has been processed.
• Responds to all audit-related inquiries in a timely manner from Westfield agency partners, insurers and company personnel which include such items as audit worksheets, audit status, procedures, billings, manual rules and audit premium questions.

Job Qualifications

• 0-2 years of experience in Premium Audit or a related field.
• High School Diploma or General Education Diploma (GED) and/or commensurate work experience.

Behavioral Competencies

• Colloborates
• Communicates Effectively
• Customer Focus
• Decision Quality
• Nimble Learning

Technical Skills

• Premium Audit
• Information Systems
• Insurance Industry Knowledge
• Data Entry
• Data Analysis and Reporting
• Technical Documentation
• Knowledge Of Underwriting Systems and Tools
• Underwriting Operations
• Risk Analysis
• Insurance Regulatory Compliance

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.