Occupation Profile for Insurance Underwriters

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

Most large insurance companies prefer to hire people who have a college degree in business administration or finance with courses in accounting.
Continuing education is necessary for advancement.
Employment is expected to grow more slowly than average as the spread of underwriting software increases worker productivity.
Job opportunities should be best for those with a background in finance and strong computer and communication skills.

Core — Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
Core — Decline excessive risks.
Core — Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
Core — Evaluate possibility of losses due to catastrophe or excessive insurance.
Core — Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe profitable distribution of risks, using reference materials.

Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.