Underwriter job description

Job brief

We are seeking to hire an underwriter with expertise in risk analysis. Underwriters are required to pay close attention to detail, be skilled negotiators, and work under pressure in a quick-paced setting.

Underwriters need to be analytical, excellent communicators and possess excellent research and classification abilities in order to succeed. The best applicants will have exceptional decision-making abilities, a thorough understanding of retention and reinsurance, and excellent judgment. They will also be experts in risk analysis and selection.

Responsibilities

• Collect the relevant and correct information required to assess potential customers and decide the right degree of risk for a policy.
• Analyze insurance requests based on the applicant's age, medical background, credit rating, and driving history.
• Write reports that detail the risk assessment's findings and how they influenced the choice.
• Compare many policies with comparable risk undertakings and conduct actuarial analyses to ascertain the company's loss history.
• Examine policies in light of the company's underwriting specifications.
• Make a judgment regarding whether to accept, alter, or reject an insurance application after carefully reviewing all necessary records and risk assessment studies.
• Utilize sophisticated software to analyze statistical data.
• Create quotes, choose coverage and premiums, and bargain conditions with clients and brokers.
• Draft the terms and conditions after carefully selecting the policy text.
• Reply to queries from clients, brokers, and credit control divisions.

Requirements

• Bachelor's degree in business administration or finance 
• Proven work experience as an underwriter
• Analytical thinker with strong research skills
• Ability to make intelligent decisions
• Strong decision-making and problem-solving abilities
• Comprehensive understanding of tracking and database systems
• Strong attention to detail and organized skills
• Possessing the capacity to perform under pressure and adhere to deadlines
• Interpersonal and negotiating skills that are strong
• Excellent statistical, mathematical, and IT capabilities
• Deep understanding of underwriting rules
• Ability to create effective alliances and relationships with customers, brokers, and important stakeholders