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Title
Text copied to clipboard!Insurance Underwriter
Description
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We are looking for a detail-oriented Insurance Underwriter to evaluate insurance applications to decide whether to provide insurance or under what terms. The Insurance Underwriter will analyze information in insurance applications, determine the risk of insuring a client, screen applicants on the basis of set criteria, determine premium amounts and write policies to cover this risk. You will liaise with specialists to gather information and opinions on an applicant's risk. To succeed in this role, you should demonstrate excellent decision-making and analytical skills, strong verbal and written communication skills, and the ability to manage and prioritize your workload effectively.
Responsibilities
Text copied to clipboard!- Evaluate insurance applications for risks and decide whether to provide insurance
- Determine policy terms and calculate premiums on the basis of actuarial, statistical and background information
- Write policies that cover a range of risks
- Consult with actuaries, statisticians, and underwriting colleagues
- Gather and assess background information, including reports
- Negotiate terms with policyholders or their brokers
- Manage your own book of policies
- Meet with clients and agents to discuss renewals and new business
- Assess whether the risk is acceptable or should be declined
- Develop and maintain a profitable book of business for the insurer
Requirements
Text copied to clipboard!- Bachelor’s degree in finance, business, or a related field
- Proven experience as an insurance underwriter
- Professional certification in underwriting
- Strong analytical and decision-making skills
- Excellent communication and negotiation skills
- Attention to detail and accuracy
- Proficiency in statistical analysis software and databases
- Knowledge of insurance policies and coverage, risk management and underwriting procedures
- Ability to work under pressure and multitask
- Strong customer service skills
Potential interview questions
Text copied to clipboard!- How do you assess the risk of insuring a client?
- Can you describe a time when you had to decline a policy? What was the reason?
- How do you handle pressure and multitasking?
- What statistical analysis software are you proficient in?
- Can you explain your understanding of insurance policies and coverage?