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Insurance Underwriter

Career in Insurance Underwriter

Underwriters have a demanding but tough job as he has to calculate the financial risk of insuring a business or an entity, for prospective and clients. Underwriters also have options to work in different lines of insurance business, such as auto, home, commercial and farm insurance, individual, life and group life and health.

Key Success

To be successful as Insurance Underwriter you should have/ develop:

Ability to communicate well
aptitude for mathematics
ability to analyze, compare and interpret facts and figures quickly
analytical mind
Self-starter
power of logical reasoning

Scope and opportunities

One who enjoys analyzing information and detail oriented find underwriting a suitable and satisfying job option.

Lifestyle & Social Status

It’s an Indoor as well as outdoor job.
Better social status by joining the league of professionals
One of the high paid jobs

Career Path

Job Profile

Underwriters job include studying insurance proposals, gathering and assessing background information, calculating possible risk and determining the premium.
Underwriters work as a mediator between the policy holder and insurance company.
Underwriters are able to find optimum premium rates that satisfy policy holders as well as maintain profitability for their employing insurance companies.
An underwriter's job basically, involves office work and client interaction.
So, after a person has decided to opt for underwriting, the next step is to choose which field of underwriting he wants to go for.
The four main categories are: Life insurance, Health insurance, Mortgage insurance and Property/casualty insurance.
Life and health insurance underwriters may further specialize in group or individual policies.
Property and casualty underwriters usually specialize in either commercial or personal insurance and then by type of risk insured, as in fire, homeowners, automobile, marine, or liability insurance, or workers' compensation

What are the key skills required for Insurance Underwriter

Skill Sets

Good written & oral communication
Problem solving
Computer skills

Work Value

Accuracy
Persistent
Decision Making

What are the career opportunities in Insurance Underwriter

Current Job Scenario

One is paid based on experience and area of specialization. Working in banks and insurance companies can expect for good remuneration than one working in private agencies and real estate firms. They are also benefitted by allowances, commission or brokerage, insurance coverage, retirement benefits, etc. Starting salary ranging from Rs. 6,000 - 8,000 PM plus brokerage.

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