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Life Insurance Underwriter
DescriptionText copied to clipboard!
We are looking for a detail-oriented Life Insurance Underwriter to join our team. The successful candidate will be responsible for analyzing and assessing the risk involved in insuring people's lives. This involves evaluating information in insurance applications and determining the risk of insuring a client. You will be using data to establish the likelihood of a claim being made. Attention to detail, good analytical skills and great interpersonal skills are essential in this role. You will also be liaising with professionals such as brokers and risk advisers. You will be expected to manage a caseload effectively, follow all company protocols and ensure that all decisions made comply with legal requirements.
ResponsibilitiesText copied to clipboard!
- Assessing applications for life insurance
- Calculating possible risk and deciding how policies should be priced
- Determining whether or not to offer coverage
- Determining potential risk factors
- Communicating with brokers and agents
- Keeping up to date with current legislation and guidelines
- Reviewing and updating company underwriting rules and guidelines
- Maintaining accurate records of policies underwritten and decisions made
- Negotiating terms with policyholders or their brokers
- Ensuring compliance with regulations and controls
RequirementsText copied to clipboard!
- Bachelor's degree in finance, business or a related field
- Previous experience in underwriting, insurance or a related field
- Strong analytical and problem-solving skills
- Excellent communication skills
- Attention to detail
- Good negotiation skills
- Ability to work under pressure and meet deadlines
- Knowledge of insurance legislation and regulations
- Proficiency in relevant computer software
- Understanding of risk assessment
Potential interview questionsText copied to clipboard!
- How do you assess the risk associated with an application?
- Can you describe a time when you had to deny coverage and why?
- How do you handle pressure and tight deadlines?
- Can you explain your understanding of life insurance underwriting?
- How do you ensure compliance with regulations and controls?