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Insurance Underwriter Job Description

joseph cole

Updated on February 24, 2023

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This Insurance Underwriter job description template can be posted to online job forums and career pages to recruit candidates. The Insurance Underwriter job description, its requirements, and responsibilities, given in this template can be modified according to the specific need of your company.

Key Responsibilities

  • Review insurance applications so as to ensure their compliance and adherence to the company’s regulations
  • Gather information about clients’ backgrounds and financial information
  • Liaise with insurance specialists for gathering opinions and information

Job Statement

We are hiring a qualified Insurance Underwriter for determining potential risk factors and establishing terms of coverage for our company’s insurance products.

What does an Insurance Underwriter do?

You will be responsible for setting up rules for attaining an average fraction of beneficial risks. Your ultimate goal would be to help our company in providing insurance at a lower net cost. 

In order to succeed in this role, you must be an excellent communicator and should have prior experience in insurance underwriting. 

Job Requirements

  • At least a Bachelor’s degree in Accounting, Finance, Economics or a related field
  • Professional certification (e.g. CPA or CFA) or insurance certification
  • Prior experience as an Insurance Underwriter
  • Experience in analytical tools, statistical packages (e.g. spreadsheets, databases, SPSS etc.), and smart systems
  • Ability to take quick decisions while working in a fast-paced environment
  • Expert-level knowledge of insurance policies
  • Ability to relate loss exposures to the policy provisions
  • Expert-level knowledge and understanding of numerical methods and statistics
  • Strong communication skills and a keen eye for details
  • An analytical mind with a problem-solving attitude

Job Responsibilities

  • Reviewing insurance applications so as to ensure their compliance and adherence to the company’s regulations
  • Gathering information about clients’ background as well as relevant financial information
  • Liaising with insurance specialists for gathering opinions and information
  • Following insurance laws and ensuring adherence to the company’s regulations
  • Keeping a balance between homogeneity and mass of risks for predicting future results
  • Keeping detailed records of past decisions and underwritten policies
  • Negotiating and defining specific insurance policies and their terms to policyholders or brokers
  • Drawing up quotes for insurance premiums
  • Keeping up with the latest trends and various underwriting alternatives
  • Collaborating with specialists for the purpose of gathering their opinions and other information

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