Insurance Underwriter Job Description

Insurance Underwriter Job Description

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Insurance underwriter provides agent with information regarding a rating to assist the agent in selling the rating to applicant.

Insurance Underwriter Duties & Responsibilities

To write an effective insurance underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included insurance underwriter job description templates that you can modify and use.

Sample responsibilities for this position include:

Reviewing and analyzing public and private M&A transaction documentation, due diligence reports, and target company financial statements/quality of earnings reports in order to identify deal risks, assess target company financial strength and perform pre-underwriting analysis used in quoting representations and warranties insurance
Comply with the Financial Regulator's Minimum Competency Code, Consumer
Consistently demonstrate high customer service standards by ensuring a high level of engagement Meeting and exceeding customers' expectations, whilst acting with integrity
Proactively anticipating Broker issues and taking appropriate action
Adhere to company quality and underwriting standards
Protection Code and any other relevant regulations
Actively and enthusiastically participate in the achievement of individual and departmental targets and objectives
Promptly fix errors listed on the Federal Crop Insurance Corporation (FCIC) error list those identified internally
Orders necessary reports or documents that are critical to the underwriting process such as credit, location, motor vehicle, and/or inspection reports, building cost estimates
Issues policies and endorsements

Insurance Underwriter Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Insurance Underwriter

List any licenses or certifications required by the position: FLMI, ALMI, CRIS, CPCU, CPA

Education for Insurance Underwriter

Typically a job would require a certain level of education.

Employers hiring for the insurance underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Education, Business, Management, Finance, Accounting, Business Operations, Economics, Marketing, Communication, Engineering

Skills for Insurance Underwriter

Desired skills for insurance underwriter include:

Microsoft products
Multivariant rating plans
Excel
Anatomy
Financial
Lines
Physical and Motor Vehicle reports
Rating plans and product offerings
Those you come in contact with every single day
Word

Desired experience for insurance underwriter includes:

Demonstrated knowledge of Industry and marketpace trends
Good understanding of top line and bottom line objectives
Demonstrated ability to provide decisions in an empathetic manner
Sound knowledge encompassing the underwriting risk evaluation of Life, Health and Disability insurance products
Must have a minimum of 2 to 3 years experience as a Group Underwriter
Significant level of stakeholder engagement

Insurance Underwriter Examples

1

Insurance Underwriter Job Description

Job Description Example
Our company is searching for experienced candidates for the position of insurance underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for insurance underwriter
  • Supervise day-to-day operations for an underwriting unit by establishing priorities, assigning work, providing training and development, and helping staff with more complex work
  • Help to establish streamlined quote process so work is handled in a timely and quality manner
  • Ensure adherence to underwriting policies, procedures, and standards
  • Review risks exceeding underwriting authority limits and/or departures from established guidelines and take appropriate action
  • Identify opportunities to improve system, policies and procedures and recommend changes
  • Use the objective setting and performance evaluation process and ongoing case reviews to ensure employees understand expectations, receive regular feedback, and are appropriately rewarded
  • Establish strong relationships with Regional Vice Presidents to support profitable new business
  • Advise Mid-Market Underwriting Manager of important technical and managerial issues
  • Based on staff needs, works closely with Underwriting Management and Training Manager in the development of training programs, tools, systems, processes and procedures
  • Issues policies and endorsements with conformance to carrier rules and broker specifications
Qualifications for insurance underwriter
  • Knowledge/understanding of Broker software house systems
  • Demonstrated experience in project work, or in User Acceptance Testing (UAT)
  • Demonstrated experience of working successfully with colleagues in other business areas
  • Proven ability to work well with external direct or broker customers
  • Understands the principles of Motor Underwriting, work routines and procedures within a professional environment
  • Proficiency with relevant systems
2

Insurance Underwriter Job Description

Job Description Example
Our innovative and growing company is hiring for an insurance underwriter. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for insurance underwriter
  • Monitor risk exposure
  • Proven Insurance experience and can pro-actively evidence both industry and market knowledge
  • Have demonstrable knowledge of legal and regulatory issues that impact our industry
  • A good understanding of claims
  • Min Dip CII or actively studying towards agreed qualification
  • Evaluates new and renewal business in accordance with established underwriting guidelines in order to achieve goals of profit, rate and growth
  • Manages preparation of program renewal specifications and distribution to markets
  • Participates in all appropriate committees as recognized in managed programs
  • Works with program’s insurance/reinsurance markets to formalize and implement annual business plan
  • Manages renewal expiration lists and creates timelines for renewals
Qualifications for insurance underwriter
  • Strong initiative and eagerness to learn new things
  • Problem solving skills necessary to adapt to a rapidly changing environment
  • Prior flood insurance preferred, any insurance experience and knowledge of terminology a plus
  • Bachelor’s degree or equivalent related professional work experience
  • 5-6 years of progressively responsible underwriting experience
  • Demonstrated ability to communicate with internal/external customers
3

Insurance Underwriter Job Description

Job Description Example
Our growing company is looking for an insurance underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for insurance underwriter
  • Write reports (for renewal, tender or financial reconciliation) providing analysis and recommendations
  • Prepare pricing for plan design changes and illustrate the financial implications to the client
  • Reviews policies and endorsements to identify errors or omissions to ensure agreement with binding order
  • Orders necessary reports such as credit, location, motor vehicle, and/or inspection reports, building cost estimates
  • Coordinates the preparation and distribution of management reports
  • Manages and delegates work to underwriters, assistant underwriters and administrative staff
  • Maintains files, historical data and client suspense
  • Manages client renewal lists
  • Maintains files and historical data on all programs
  • Co-ordinate reviews business planning relationship with brokers as appropriate
Qualifications for insurance underwriter
  • Operates in a test and learn environment
  • Bachelor's Degree with a minimum 5-7 years underwriting experience or equivalent experience
  • Extensive knowledge of underwriting rules, guidelines and coverage, particularly as they apply to disability and life products
  • Ability to achieve good business outcomes through others
  • Ability to handle high pressure negotiations
  • Specific experience with procuring, broking or negotiating representations and warranties insurance or other transactional risk insurance on behalf of deal clients is a strong plus
4

Insurance Underwriter Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of insurance underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for insurance underwriter
  • Actively participate in continuous improvement by fully engaging in daily huddles, generating suggestions, following appropriate procedures and continuous process improvement work principles, participating in problem solving activities, and utilizing continuous improvement tools to support the work of the team
  • Evaluate, conduct and document referrals from underwriters on accounts or coverage with higher hazards, highest complexity, higher limits, or larger premium for the property line of business
  • Facilitate ongoing and frequent interaction with assigned offices and underwriters outside of required referral activities building underwriter confidence and expertise
  • Visit field offices during key/busy periods to conduct referrals in person, participate in field underwriting audits or conduct training sessions
  • Act as a subject matter expert for Training, Systems Development, Product Management and other functions
  • Perform high-level quality control review for proper policy structure and other quality reviews
  • Serve in a lead capacity and acts as a resource to less experienced, promote best practices within the property referral group, and lead/influence by example
  • Maintain collaborative relationships with colleagues in Head Office, Risk Control, Claims
  • Actuarial, and as needed, any other parts of the organization
  • Maintain a collaborative relationship with Head Office colleagues
Qualifications for insurance underwriter
  • Demonstrate consistency in performance over a sustained period of time
  • Thoroughly and independently researches all problems and risk related issues
  • Makes appropriate decisions to ensure growth, profitability and customer retention objectives are met
  • 4+ years of proven data fact gathering and data analysis experience preferred
  • 5+ years of property/casualty insurance experience
  • College degree desirable, but not required
5

Insurance Underwriter Job Description

Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of insurance underwriter. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for insurance underwriter
  • Lead on group insurance renewals, including analyzing the insurer’s proposed position and presenting initial position for negotiations
  • Support the tender process, including preparing specifications, responding to the market’s queries, summarizing and comparing all quotes received
  • Calculate projected renewal ratings and write correspondence outlining the results for clients’ budgeting purposes
  • Analyze and interpret information, adapt the analysis models, explain gaps and make recommendations
  • Monitor and stay current on changing government regulations, legislation and benefits trends
  • Support the Benefits and Planning team with renewal meetings, including developing presentations
  • Provide underwriter ideology leadership to other members of the Group Benefits team
  • Establish and maintain collaborative relationships with colleagues in Head Office, Risk Control, Claims, Actuarial, and as needed, any other parts of the organization
  • May act as a Regional or resident industry expert
  • Reviews applications for insurance to evaluate degree of risk involved and determine whether to accept applications following established company policies
Qualifications for insurance underwriter
  • 2+ years of experience underwriting personal auto insurance
  • Superior verbal and written communications skills are required to effectively deal with management, underwriters, agents and insureds
  • Experience working with automated systems is mandatory
  • Should have working knowledge with databases and spreadsheets
  • Experience working with Business Intelligence programs, , Cognos, QlikView, or similar
  • Detail oriented and objective with the ability to provide insight into regional/departmental trends

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