Responsibilities

‘Insurance underwriter’ might sound like a strange job title. However, this line of work is actually fairly simple to explain. When a person or company applies for insurance cover, an insurance underwriter is the person who assesses the application, weighs up various factors, analyses the risk of a claim being made, and then makes the final decision on whether or not the application should be accepted. Insurance underwriters are also responsible for defining the specific terms of the insurance policy that is agreed upon.

On a day-to-day basis, an insurance underwriter will examine insurance applications, conduct extra research, collect background information and make risk assessments.

Skills/Experience

Communication skills – insurance underwriters use excellent verbal and written communication skills to interview applicants and review various documents
Analytical thinking – strong analytical skills are needed to make policy determinations and ultimately approve or deny applications based on credit history and other financial factors
Computer skills – some computer skills are essential for insurance underwriters, as many companies use software programs and digital systems to process and store applications
Time management – insurance underwriters use time management skills to meet deadlines and work within a fast-paced environment
Mathematics – insurance underwriters analyze detailed financial information and credit histories to make a final determination regarding the terms of insurance policies, which requires good math skills
Multitasking – insurance underwriters multitask to handle multiple applications and perform several responsibilities at once