Insurance senior underwriters typically do the following:
- Analyzing of information in insurance applications
- Determining the risk of insuring a client
- Screening applicants on the basis of set criteria
- Evaluation of recommendations from underwriting software
- Contacts field representatives, medical personnel, and others to obtain further information
- Decides whether to offer insurance
- Determines appropriate premiums and amounts of coverage
Important Qualities of a Senior underwriter
- Analytical skills. Underwriters must be able to evaluate information from a variety of sources and solve complex problems.
- Decision-making skills. Underwriters must consider the costs and benefits of various decisions and choose the appropriate one.
- Detail oriented. Underwriters must pay attention to detail, because each individual item on an insurance application can affect the coverage decision.
- Interpersonal skills. Underwriters need good communication and interpersonal skills because much of their work involves dealing with other people, such as insurance agents.
- Math skills. Determining the probability of losses on an insurance policy and calculating appropriate premiums require mathematical ability.
Qualifications, Skills & Attributes of a Senior underwriter
- A Bachelor’s degree in any discipline preferably in finance, accounting, actuarial science, insurance
- Professional qualifications – Good progress in ACII or AIIK .At least Dip CII or 10 Papers of AIIK
- At least 4 years as an underwriter in a busy working environment or related field having worked 2years as an underwriting officer
- Attentive to details with Good analytical skills
- Excellent communication, problem-solving and customer care skills Remuneration
- Certifications, Seminars and relevant Trainings are added advantage
