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Insurance Underwriter
Salary
$24-33/hr ($50-70k/yr)
View this job in: Insurance
Do you enjoy working with statistics and calculating the odds? You might be a great Insurance Underwriter.
When a person applies for an insurance policy, he or she provides information about their property (home, car, etc). It will be your job to look at this information and compare it to statistics about similar people. Next, you'll decide whether this person is so likely to have their property damaged (by bad weather, accidents, etc) that it would not be profitable to insure the person no matter how much he or she paid. If you decide to grant insurance, you'll also decide how much that person should pay so the company does not lose money.
You'll need a Bachelor's degree and at least two years' experience in Underwriting to get this great job.
Key Responsibilities
- Obtain the information needed to properly evaluate new policy submissions
- Analyze applications to make decisions based on individual risk characteristics to determine the risk to the company
- Use underwriting guidelines and company best practices to ensure compliance with state regulations
- Ensure proper file documentation in connection with underwriting actions
- Price policies according to company underwriting and pricing guidelines
- Communicate with Insurance Agents to get information or to promptly communicate decisions about acceptance or rejection of risks for insurance policies
- Actively participate in problem solving activities and use continuous improvement tools to support the work of the team
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