Description

Insurance underwriters review and evaluate insurance applications to determine insurance risks, insurance premiums and extent of insurance coverage according to company policies. They are employed at head and branch offices of insurance companies.

Job Titles

• Group underwriter
• Insurance underwriter
• Liability underwriter
• Property underwriter

Main Duties

• Review individual and group applications for automobile, fire, health, liability, life, property, marine, aircraft and other insurance
• Evaluate new and renewal applications to determine insurance risks, insurance premiums, extent of insurance coverage and other conditions of the insurance contract using medical reports, rate tables and other documents and reference materials; adjust premiums, coverage or risk itself to make acceptance of new and renewal applications possible
• Approve sale of insurance policies and ensure compliance with government regulations
• Provide recommendations on individual or group insurance plan designs
• Provide underwriting advice and answer inquiries from clients and from insurance agents, consultants and other company personnel
• Prepare underwriting reports and update insurance forms when necessary.

Workplaces

• Branches of insurance companies
• Head offices of insurance companies

Skills

• Critical Thinking
• Decision Making
• Digital Literacy
• Evaluation
• Learning and Teaching Strategies

Abilities

• Categorization Flexibility
• Deductive Reasoning
• Inductive Reasoning
• Information Ordering
• Mathematical Reasoning

Personal Attributes

• Attention to Detail
• Adaptability
• Analytical Thinking
• Collaboration
• Independence

Similar Occupations

• Insurance, real estate and financial brokerage managers (10020)
• Insurance agents and brokers (63100)

Source: OaSIS