Career in Insurance Underwriting
What is It?
The main role of an insurance underwriter is to determine the feasibility of insurance applications. They analyse insurance applications and determine whether it must be denied or accepted. The Insurance underwriter’s role is to analyse the reports of actuaries and design certain policies and conditions for the insurance product for the applicant.
Activities they do?
- Analyse information in insurance applications
- Determine the risk of insuring a client
- Screen applicants on the basis of set criteria
- Evaluate recommendations from underwriting software
- Contact field representatives, medical personnel, and others to obtain further information
- Decide whether to offer insurance
- Determine appropriate premiums and amounts of coverage
Areas they Work?
One can enter this career by doing certificate courses, diploma, under-graduation and post- graduation. To move up in the career, underwriting certification are needed.
The entry level salary ranges from 1.2-2 lacs per annum. The average salary for the experienced ranges from 3-5 lacs.
- Lectures 0
- Quizzes 0
- Duration 50 hours
- Skill level UG/PG
- Students 0
- Assessments Yes