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Title
Text copied to clipboard!Commercial Underwriter
Description
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We are looking for a detail-oriented Commercial Underwriter to evaluate risk, review insurance applications, and determine coverage amounts and premiums. The Commercial Underwriter will be responsible for analyzing financial data, assessing the risk of potential clients, and ensuring compliance with underwriting policies and guidelines. The ideal candidate will have a strong background in financial analysis, excellent communication skills, and the ability to make sound decisions under pressure. This role requires a deep understanding of risk assessment, financial analysis, and insurance policies. The successful candidate will be responsible for reviewing and approving applications for insurance, negotiating policy terms and conditions, and maintaining accurate records of policies underwritten and decisions made.
Responsibilities
Text copied to clipboard!- Review insurance applications for compliance and adherence
- Assess clients' background information and financial status
- Liaise with specialists to gather information and opinions
- Write quotes and negotiate the terms with brokers and clients
- Determine premiums, amounts and issue policies
- Manage and monitor the portfolio of policies
- On-going portfolio management and risk selection in line with business strategy
- Negotiate new business and renewals with brokers
- Identify patterns and trends in risk selection
- Collaborate with underwriting team to implement underwriting strategy
Requirements
Text copied to clipboard!- Bachelor's degree in Finance, Business Administration or related field
- Proven experience as an underwriter
- Solid understanding of insurance policies and ability to interpret technical information
- Strong analytical and decision-making skills
- Excellent communication and negotiation skills
- Attention to detail and accuracy
- Ability to work under pressure
- Knowledge of underwriting policies and guidelines
- Proficiency in Microsoft Office and underwriting software
- Certification in underwriting will be an advantage
Potential interview questions
Text copied to clipboard!- Can you describe your experience with underwriting software?
- How do you handle high-pressure situations?
- Can you explain a time when you had to make a difficult decision regarding a policy?
- How do you assess risk when underwriting a policy?
- What strategies do you use to negotiate policy terms and premiums?