The Insurance Underwriter assumes risk for individuals and businesses and calculates their potential losses and charges appropriate premiums to cover them. He/She decides whether insurance will be provided and under what terms.
- Examines insurance proposals
- Collects background information and assessments of risk
- Analyzes statistical data using specialist computer programs
- Writes quotes and negotiating the terms with brokers and clients
- Determines premiums
- Writes policies and help with policy wording
- Keeps detailed and accurate records of policies underwritten and decisions made.
- Specifies conditions to be imposed on different types of policies
- Negotiates terms with policyholders or their brokers and draw up contracts
- Bachelors’ degree in business, finance, economics, and mathematics
- Thorough knowledge of databases and tracking systems
- Certified trained Insurance underwriter
- Certification for Insurance Underwriting
Skills needed for this role
The Insurance Underwriter must have the ability to make sound decisions and have strong analytical skills. He/She must have detail-oriented work style, strong computer skills, and business knowledge. Having Effective written and verbal communication skills are essential for this role.
1-4 Years Experienced Employee