Insurance Underwriters

Finance > Insurance

Projected Growth: Decline

8400+
Projected Job Openings

Considerable Preparation Needed

Job Description

Your job is to Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Common job titles of Insurance Underwriters include:
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Experience and Education

A considerable amount of work-related skill, knowledge, or experience is needed for this occupation. For example, a person in this occupation must complete four years of college and work for several years in industry to be considered qualified.

  • 70% said they needed a Bachelor's Degree.

  • 10% said they needed a High School Diploma.

Tasks

    Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.

    Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.

    Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.

    Review company records to determine amount of insurance in force on single risk or group of closely related risks.

    Evaluate possibility of losses due to catastrophe or excessive insurance.

    Decline excessive risks.

    Authorize reinsurance of policy when risk is high.

Tools

Personal computers

Notebook computers

Laptop computers

Desktop computers

10-key calculators

Technologies

Anodas Software Limited Phoenix

C++

Consilience Software Maven Insurance Automation Suite

CSC nbAccelerator

Fair Isaac Enterprise Decision Management for Insurance

QualCorp FormsPlus

SIS SEMCI PARTNER

All Technologies

Skywire Software InsBridge

Delphi Technology

Fannie Mae Desktop Underwriter

FileNet Content Manager

Fiserv Advanced Underwriting

LabOne NET

LexisNexis

NIIT Technologies WinRisk

RGA AURA

RGA Facultative Application Console

Spreadsheet software

Valen Technologies Risk Manager

Skills

Reading Comprehension

Understanding written sentences and paragraphs in work related documents.

Writing

Communicating effectively in writing as appropriate for the needs of the audience.

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Active Listening

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking

Talking to others to convey information effectively.

Judgment and Decision Making

Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Active Learning

Understanding the implications of new information for both current and future problem-solving and decision-making.

Complex Problem Solving

Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Monitoring

Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Social Perceptiveness

Being aware of others' reactions and understanding why they react as they do.

Coordination

Adjusting actions in relation to others' actions.

Service Orientation

Actively looking for ways to help people.

Abilities

Read and understand information and ideas presented in writing.

Cognitive Abilities › Verbal Abilities › Written Comprehension

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Occupation Sections

Knowledge

English Language

Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

Mathematics

Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Sales and Marketing

Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

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