• Applications are often supplemented with reports from loss-control consultants, medical reports, and actuarial studies.
  
  
• Decide whether to issue a policy and charge appropriate premium.
  
  
• Serve as the main link between the insurance carrier and the insurance agent.
  
  
• Use computer applications called "smart systems" to manage risks more efficiently and accurately.
  
  
• Life and health insurance underwriters may further specialise in group or individual policies.
  
  
• Property and casualty underwriters usually specialize in commercial or personal lines and then often by type of risk insured, such as fire, homeowners, automobile, marine, liability, or workers' compensation.
  
  
• In casualty companies they provide insurance through a single "package'' policy, covering various types of risks.
  
  
• Underwriter must be familiar with different lines of insurance.
  
  
• Must be able to evaluate the firm's entire operation in appraising its application for insurance.
  
  
• A group underwriter analyses the overall composition of the group to assure that the total risk is not excessive.
  
  
• Analyse application of each group member and make individual appraisals. Some group underwriters meet with union or employer representatives to discuss the types of policies available to their group.

     BACK

Underwriter - On the Job

Underwriters have desk jobs. Their offices are usually comfortable and pleasant. The average number of working hours per week is 40-hour week. But, due to downsizing of many insurance companies, most of them are working longer hours. Most underwriters operate from a home office, but occasionally attend meetings away from home. Construction and marine underwriters frequently travel to inspect work sites and assess risks.

     BACK

Underwriter - Earnings

The salaries start from six lakhs and can go up to eight lakhs per annum based on experience.

BACK

Underwriter - Market yourself

Define your career objective clearly. For instance, liaison between sales staff and underwriting.

State your occupational interests, in this case underwriting.

Your educational qualifications, which preferably should cover business and math.

Give detailed information on past work experience. The position you held and the job profile related to it.

Highlight your skills in the underwriting profession as well as other job areas like banking, accounting etc.

Your past extra curricular activities that display leadership and organisational skills must be included.

Participation in industrial fairs and other career meets is of equal importance to prospective employers

BACK

top