Insurance Underwriter Career

Job Description: Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.


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Insurance Underwriter Career

What Insurance Underwriters do:

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

What work activities are most important?

Importance Activities

Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Judging the Qualities of Objects, Services, or People - Assessing the value, importance, or quality of things or people.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Monitoring Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Providing Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Holland Code Chart for an Insurance Underwriter