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What are the Different Insurance Underwriting Jobs?

Article Details
  • Written By: Harriette Halepis
  • Edited By: Bronwyn Harris
  • Last Modified Date: 12 October 2018
  • Copyright Protected:
    2003-2018
    Conjecture Corporation
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Insurance underwriting jobs can be found within the health, life, or property insurance fields. Once an underwriter has chosen a particular field, he or she often remains within that field for the duration of his or her career. Underwriters must be able to complete a variety of tasks including the ability to effectively analyze policy data.

Underwriters are often responsible for reviewing a policyholder's insurance plan, determining whether or not a policyholder has the right plan, and concluding whether or not a holder should be insured at all. While a large portion of insurance underwriting jobs consist of crunching numbers, this position also includes a large amount of social interaction.

Underwriters are often assigned casework that requires a careful review of a policyholder's policy. In order to review a particular file, underwriters collect policyholder information and analyze data related to a policyholder. Senior underwriters are often asked to scrutinize particularly difficult cases, and many of these cases require extensive technical insurance knowledge.

Since all underwriters will be asked to handle complex cases at some point, these insurance professionals keep a close watch on industry standards and changes. In addition, underwriters must be able to determine the worth of a new policy, calculate the financial impact of new policies upon policyholders, and conclude the overall worth of an insurance policies.

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Often, insurance underwriting jobs require underwriters to obtain a vast deal of information regarding the insurance industry. Aside from reviewing various files, underwriters must also keep abreast with insurance laws. Underwriters are often called upon by service representatives, agents, claims adjusters, and policyholders to present their findings clearly.

Thus, an underwriter must be able to effectively support his or her analysis of a case. It is not uncommon for an underwriter to be caught in the middle of policyholder disputes. Therefore, insurance underwriting jobs are best suited for those with strong social skills. While there isn't any one particular degree required in order to become an underwriter, most underwriters share the same academic background.

The vast majority of insurance underwriters have academic training in the field of business. Graduates with a comprehensive background in accounting, mathematics, and business can also obtain insurance underwriting jobs. Underwriters at the top of their field often hone niche skills that other underwriters do not possess. While all underwriters begin their careers as junior employees, well-suited underwriters will often gain a promotion within a short amount of time.

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