Our Insurance Underwriter job description includes the Insurance Underwriter responsibilities, duties, skills, education, qualifications, and experience.
Insurance Underwriter Example
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If you need an example job description for an Insurance Underwriter download the one below, alternatively we have many other Banking and Insurance job description samples and a job description library with over 3000 job descriptions templates that you can download for free.
What does an Insurance Underwriter do?
Insurance Underwriter is responsible for assessing applications for insurance cover and determining the terms of the policy. This involves analysing the information provided by the applicant, such as their current financial position, income, lifestyle and occupation, to determine the risk involved and calculate the premiums payable. The Underwriter must also review existing policies and suggest changes to ensure they remain cost effective and meet customer needs. They must be able to interpret complex legal documents and make sound decisions in order to protect the interests of their employer.
Insurance Underwriter Role Purpose
The purpose of an insurance underwriter is to assess and evaluate potential risks from clients and decide whether to accept or reject them. They are responsible for assessing an applicant’s eligibility for insurance coverage, creating policies and determining the premiums that should be charged. Underwriters must use their technical knowledge and judgement to ensure the insurance company will be able to cover the risk in the event of a claim. They must also monitor the performance of existing policies and make changes if needed.
Insurance Underwriter Role
An insurance underwriter is responsible for assessing potential risks and determining whether to accept, reject or modify a risk in order to protect an insurance company from financial losses. They evaluate applications for insurance and calculate premiums, ensuring that the terms of the policy are met, and may also provide advice on risk management.
Insurance Underwriter Duties
- Assess risk factors for insurance policies
- Calculate premiums for policies
- Review applications for insurance to ensure accuracy
- Develop insurance programs for customers
- Evaluate claims and determine policy coverage
- Manage customer accounts
- Provide advice and guidance on insurance policies
Insurance Underwriter Requirements
- Excellent numerical and communication skills
- Ability to work well in a team
- Knowledge of the insurance industry and its products
- Ability to assess and analyse risk
Insurance Underwriter Skills
- Ability to analyse risk
- Excellent communication and interpersonal abilities
- Good numerical and analytical skills
Insurance Underwriter Personal Traits
- Strong analytical and numerical skills
- Good communication and decision-making skills
- Attention to detail
- Ability to work in a team
- Ability to work to deadlines
How to write an Insurance Underwriter Job Advert
Use our job advert template to write a job advert for posting on job sites and job boards. Our job advertising templates are carefully created to help you reach your audience and beat the competition to the best talent.
A job description informs the reader about a job, whereas a job advert’s main objective is to sell the job opportunity to attract as many suitable applicants possible. A job advert maybe the first touch-point a candidate has with your company so it is important to create a great impression.
Job Advertisements should enticing, so considering using short, exciting language which get the reader’s attention.
How to write an Insurance Underwriter Job Description
To write a job description, we recommend starting with a job description template from our job description library, which contains examples for 800+ positions and professions. Our job description examples include a job summary with duties and responsibilities and skills and requirements, which can be personalised for your job vacancy.
Job Description Advice - Guidance on How to Personalise an Insurance Underwriter Job Specification
The hiring process and recruiting new employees to fill your key roles requires a degree of personalisation if you are to attract the best employees in a competitive employment market. The right person for a crucial role or more senior roles will likely have other employers targeting them. As your job description will be the first point of contact, you need to nail your pitch and provide the best possible service.
Job Description Tips - Help on formatting an Insurance Underwriter Job Specification
When creating your bespoke description and advert, you should cover and promote these points:
Job title: This should accurately reflect the role and include keywords that top talent might be using to search for jobs.
Job duties: The day to day duties, such as administrative tasks, which vary depending on the company and inform the candidate if they can complete the role.
Technical skills: These are the hard skills required through training, such as proficiency with Microsoft Office.
Soft skills: These include the interpersonal skills and general abilities the right candidates will possess. For example, the competency to prioritise multiple tasks, handle customer queries and customer complaints, work alone, or build a good relationship with coworkers.
The company's culture: Highlighting your company culture and values ensures employees thrive and find outstanding job satisfaction. Candidates that are not the right fit won’t waste their time completing the application process, meaning you can focus on qualified individuals and hire in a more timely manner.
Career progression: Including the career path will entice candidates looking for career growth.
Training and development programs: Smaller companies may need employees with previous experience or provide educational assistance over internal training offered by larger organisations with more significant resources.
Employee benefits: Compensation and benefits often fail to appear in job ads and while you may want to hold your cards close to your chest, failing to include them is a mistake. Consider answering common questions, such as working hours and paid leave. Researching the average salary for the role in these early stages will ensure you don’t waste your interviewer’s and the candidate’s time.
Skill gaps: Your company may need to bring in new skills beyond those required to complete the key role and duties. Thinking on an organisational level can be beneficial when contemplating skills diversity.
Legal requirements: Ensure your job advert and description does not ask for inappropriate or discriminatory personal details, such as age, marital status, or religion.
How to Hire an Insurance Underwriter
Once you have selected your Job Description download it or convert it to a Job Advert. From here you can post/advertise your job across our network of job boards. If you wish to use the job description for a CV Template click through for advice and Convert to a CV
