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Title
Text copied to clipboard!Insurance Underwriter
Description
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We are looking for a detail-oriented and analytical Insurance Underwriter to join our team. As an Insurance Underwriter, you will be responsible for evaluating insurance applications and determining the level of risk involved in insuring individuals or businesses. Your primary goal will be to decide whether to provide insurance and under what terms, ensuring that the company maintains profitability while offering competitive coverage to clients.
In this role, you will analyze a variety of data sources, including financial statements, medical records, and risk assessments, to make informed decisions. You will work closely with insurance agents, brokers, and clients to gather necessary information and clarify any uncertainties. Your ability to assess risk accurately and make sound judgments will be critical to the success of our underwriting operations.
You will also be expected to stay up to date with industry regulations, market trends, and underwriting best practices. This position requires strong communication skills, as you will need to explain underwriting decisions and negotiate terms with stakeholders. Additionally, you will contribute to the development of underwriting guidelines and help train junior underwriters.
The ideal candidate will have a background in finance, business, or a related field, along with experience in insurance underwriting. Proficiency in underwriting software and data analysis tools is highly desirable. If you are a critical thinker with a keen eye for detail and a passion for risk assessment, we encourage you to apply.
Responsibilities
Text copied to clipboard!- Evaluate insurance applications and assess risk levels
- Determine appropriate coverage terms and premiums
- Analyze financial documents, medical records, and risk reports
- Collaborate with agents and brokers to gather necessary information
- Make informed underwriting decisions within company guidelines
- Maintain accurate records of underwriting decisions and documentation
- Stay current with industry regulations and market trends
- Develop and update underwriting policies and procedures
- Communicate underwriting decisions to stakeholders
- Assist in training and mentoring junior underwriters
Requirements
Text copied to clipboard!- Bachelor’s degree in finance, business, or related field
- Proven experience as an insurance underwriter
- Strong analytical and decision-making skills
- Excellent written and verbal communication abilities
- Proficiency in underwriting software and data analysis tools
- Knowledge of insurance laws and regulations
- Attention to detail and high level of accuracy
- Ability to work independently and as part of a team
- Strong organizational and time management skills
- Professional certification (e.g., CPCU) is a plus
Potential interview questions
Text copied to clipboard!- What types of insurance have you underwritten in the past?
- How do you assess the risk level of a new application?
- Describe a time you had to make a difficult underwriting decision.
- What tools or software do you use for underwriting analysis?
- How do you stay updated on changes in insurance regulations?
- Have you ever trained or mentored junior underwriters?
- How do you handle disagreements with agents or brokers?
- What steps do you take to ensure accuracy in your work?
- Can you describe your experience with underwriting guidelines?
- How do you prioritize multiple underwriting tasks?
