Job Role Description

Insurance > Underwriting Assistant

Salary National Average

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45120.0000 57830.0000 69970.0000

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Short Description:

Assist in reviewing and evaluating information about a company’s financial situation, employee groups, and past claims to underwrite new policies, renewals, and amendments of group contracts. Determine appropriate benefits and rates. Communicate with field offices to obtain other information needed to make underwriting decisions.

Duties / Responsibilities:

  • Decrease the policy's value when risk is substandard and specify applicable endorsements or apply a rating to ensure the safe, profitable distribution of risks using reference materials.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
  • Review company records to determine the amount of insurance in force on a single risk or group of closely related risks.
  • Examine documents to determine the degree of risk from such factors as the applicant's financial standing and the value and condition of the property.
  • Authorize reinsurance of policy when risk is high.
  • Evaluate the possibility of losses due to catastrophe or excessive insurance.

Skills / Requirements / Qualifications

  • Active Listening: Giving full attention to what other people are saying, taking time to understand the points made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Judgment and Decision Making: Considering the costs and benefits of potential actions to choose the most appropriate one.
  • Reading Comprehension: Understanding written sentences and paragraphs in work-related documents.
  • Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
  • Speaking: Talking to others to convey information effectively.
  • Writing: Communicating effectively in writing as appropriate for the audience's needs.
  • Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Time Management: Managing one's own time and the time of others.
  • Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.
  • Active Learning: Understanding new information's implications for current and future problem-solving and decision-making.

Job Zones

  • Education: Most of these occupations require a four-year bachelor's degree, but some do not.
  • Related Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to qualify.
  • Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, or vocational training.
  • Job Zone Examples: Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents.
  • Specific Vocational Preparation in years: 2-4 years of preparation (7.0 to < 8.0)

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