Insurance Underwriter Job Description
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Tasks Performed
- Insurance Underwriters Tasks Performed
- Authorize reinsurance of policy when risk is high.
- Decline excessive risks.
- 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.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
Work Activities
- analyze financial data
- evaluate degree of financial risk
- follow contract, property, or insurance laws
- gather relevant financial data
- identify financial risks to company
- inspect property
- make decisions
- review data on insurance applications or policies
- use computers to enter, access and retrieve financial data
- write business correspondence
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