Life Insurance Underwriter Job Description

March 20, 20120 Comments

Life Insurance Underwriter Job Profile and Description

Life insurance underwriter is a person who identifies whether a person can be allotted a life insurance policy or not and he is also responsible for making the calculation of the amount of policy. He is required to analyze the application forms of client and decides whether policy should be issued or not. For this purpose he considers various factors like age, family status, health etc. and then he will decide the premium amount also.

Duties and Responsibilities

  • Insurance underwriters are the person who makes the guidelines or rules and regulations for issuing the insurance to the customers.
  • In simple words, underwriter can decide whether the insurance should be provided or not.
  • An underwriter writes the policies that covers the particular risks.
  • The main duty of an underwriter is to make decision about the policy issue after assessing the client’s situation.
  • He is required to make a full report about the risk factors of the clients.
  • The underwriter is required to undergo search for gaining the information about the clients who may need the insurance.
  • An underwriter basically acts as a bridge between the clients and the insurance agents.

Skills and Specifications

  • An efficient underwriter should be able to communicate well with the clients and the insurance agents.
  • He should have good judgment ability to make accurate decisions to issue a policy.
  • An underwriter is required to have good computer operating skills so that he can make records and search information through internet.
  • He should be good and accurate with numbers.
  • Should have analytical mind and should be decisive in nature. He is required to be strong and commanding in making rules so that he can prevent the company from losses.

Education and Qualifications

Insurance underwriter need not to have any professional qualification. A Bachelor degree is sufficient for entry level job of underwriters. For higher positions, on the job trainings and a series of examinations are required to be cleared.

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