Insurance Underwriters


Also called : Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Consultant

What they do


Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

On the job, one would


  • Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.

  • Decline excessive risks.

  • Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.

  • Evaluate possibility of losses due to catastrophe or excessive insurance.

  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.

KNOWLEDGE


  • English Language
    Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

  • Customer and Personal Service
    Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

  • Mathematics
    Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

  • Sales and Marketing
    Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

SKILLS


  • Active Listening
    Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

  • Critical Thinking
    Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.

  • Reading Comprehension
    Understanding written sentences and paragraphs in work-related documents.

  • Writing
    Communicating effectively in writing as appropriate for the needs of the audience.

  • Speaking
    Talking to others to convey information effectively.

ABILITIES


  • Written Comprehension
    The ability to read and understand information and ideas presented in writing.

  • Inductive Reasoning
    The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

  • Written Expression
    The ability to communicate information and ideas in writing so others will understand.

  • Oral Expression
    The ability to communicate information and ideas in speaking so others will understand.

  • Deductive Reasoning
    The ability to apply general rules to specific problems to produce answers that make sense.

PERSONALITY

People interested in this work, will do well at jobs that need;

  • Integrity
    Job requires being honest and ethical.

  • Attention to Detail
    Job requires being careful about detail and thorough in completing work tasks.

  • Analytical Thinking
    Job requires analyzing information and using logic to address work-related issues and problems.

  • Dependability
    Job requires being reliable, responsible, and dependable, and fulfilling obligations.

  • Achievement/Effort
    Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.

  • Cooperation
    Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.

  • Stress Tolerance
    Job requires accepting criticism and dealing calmly and effectively with high-stress situations.

  • Self-Control
    Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.

  • Initiative
    Job requires a willingness to take on responsibilities and challenges.

  • Adaptability/Flexibility
    Job requires being open to change (positive or negative) and to considerable variety in the workplace.

TECHNOLOGY

  • Data base user interface and query software

  • Document management software

  • Electronic mail software

  • Enterprise resource planning ERP software

  • Financial analysis software

  • Information retrieval or search software

  • Internet browser software

  • Object or component oriented development software

  • Office suite software

  • Operating system software

  • Presentation software

EDUCATION AND TRAINING

  • Preparation

    Considerable Preparation Needed

  • Education

    Four-year bachelor degree

  • Experience

    A considerable amount of work-related skill, knowledge, or experience is needed for these occupation

  • Jobtraining

    Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

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