Insurance Underwriters
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Sample of reported job titles:
Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Consultant
Occupation-Specific Information
Tasks
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- 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.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
Technology Skills
- Data base user interface and query software:Database software,Microsoft Access
- Document management software:IBM FileNet Content Manager
- Electronic mail software:Microsoft Outlook
- Enterprise resource planning ERP software:Anodas Software Limited Phoenix,Consilience Software Maven Insurance Automation Suite,CSC nbAccelerator,Fair Isaac Enterprise Decision Management for Insurance,QualCorp FormsPlus,SIS SEMCI PARTNER,Skywire Software InsBridge
- Financial analysis software:Delphi Technology,Fannie Mae Desktop Underwriter,Fiserv Advanced Underwriting,LabOne NET,NIIT Technologies WinRisk,RGA AURA,RGA Facultative Application Console,Valen Technologies Risk Manager
Occupational Requirements
Work Activities
- 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.
- Analyzing Data or Information:Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Working with Computers:Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Establishing and Maintaining Interpersonal Relationships:Developing constructive and cooperative working relationships with others, and maintaining them over time.
Detailed Work Activities
- Analyze health-related data.
- Assess financial status of clients.
- Assess risks to business operations.
- Authorize financial actions.
- Explain regulations, policies, or procedures.
Work Context
- Electronic Mail:100% responded"Every day"
- Spend Time Sitting:93% responded"Continually or almost continually"
- Telephone:90% responded"Every day"
- Indoors, Environmentally Controlled:87% responded"Every day"
- Physical Proximity:73% responded"Slightly close (e.g., shared office)"
Worker Requirements
Skills
- Active Listening:Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Critical Thinking:Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Reading Comprehension:Understanding written sentences and paragraphs in work-related documents.
- Writing:Communicating effectively in writing as appropriate for the needs of the audience.
- Speaking:Talking to others to convey information effectively.
Knowledge
- English Language:Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Customer and Personal Service:Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Mathematics:Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Sales and Marketing:Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
Education
How much education does a new hire need to perform a job in this occupation? Respondents said:
- 70%Bachelor's Degree
- 10%Associate's Degree (or other 2-year degree)
- 10%High School Diploma - or the equivalent (for example, GED)
Worker Characteristics
Abilities
- Written Comprehension:The ability to read and understand information and ideas presented in writing.
- Inductive Reasoning:The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Written Expression:The ability to communicate information and ideas in writing so others will understand.
- Oral Expression:The ability to communicate information and ideas in speaking so others will understand.
- Deductive Reasoning:The ability to apply general rules to specific problems to produce answers that make sense.
Interests
- Conventional:Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising:Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Investigative:Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Work Values
- Independence:Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
- Relationships:Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
- Support:Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Work Styles
- Integrity:Job requires being honest and ethical.
- Attention to Detail:Job requires being careful about detail and thorough in completing work tasks.
- Analytical Thinking:Job requires analyzing information and using logic to address work-related issues and problems.
- Dependability:Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Achievement/Effort:Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
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