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Title

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Underwriter

Description

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We are looking for a detail-oriented Underwriter to be responsible for the critical task of assessing and analyzing the risks involved in insuring our clients. The Underwriter will review insurance applications, calculate potential risk, decide on the acceptance of applications, and formulate policies to mitigate the risks of loss. You will be working closely with brokers and policyholders, and you should have excellent judgment to weigh the complexities of each risk and approve or reject it based on your assessment. The ideal candidate should have a keen eye for detail, strong analytical skills, and a deep understanding of risk assessment. You should be able to work under pressure, make quick decisions, and maintain the profitability of the company by minimizing losses.

Responsibilities

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  • Evaluate insurance applications for risks and decide whether to accept applications.
  • Review and update the company's underwriting rules and guidelines.
  • Analyze information in insurance applications.
  • Determine the risk of insuring a client.
  • Screen applicants on the basis of set criteria.
  • Evaluate recommendations from underwriting software.
  • Contact field representatives, medical personnel, and others to obtain further information.
  • Decide whether to offer insurance.
  • Determine appropriate premiums and amounts of coverage.
  • Review and update the rules and guidelines of the company.

Requirements

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  • Bachelor's degree in finance or related field.
  • Proven experience as an underwriter.
  • Strong analytical and mathematical skills.
  • Excellent decision-making skills.
  • Strong communication skills, both verbal and written.
  • Proficiency in Microsoft Office Suite and underwriting software.
  • Attention to detail and accuracy.
  • Ability to work under pressure.
  • Good judgment and ability to make quick decisions.
  • Understanding of insurance policies and regulations.

Potential interview questions

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  • How do you assess the risk in insurance proposals?
  • Can you describe a time when you had to reject an application?
  • How do you handle pressure and tight deadlines?
  • What strategies do you use to stay organized and focused?
  • How do you ensure the accuracy of your work?