Insurance Underwriter Career, Job and Training Information.Parts 1

**Career job information for job seekers and find good   employment job

The following are a few Insurance Underwriter career and job highlights:

• The need for underwriters will always exist as long as insurance is considered a necessity for people and businesses.
• College graduates who have a degree in finance or business administration with courses in accounting are more likely to find opportunities for employment with large insurance companies. However, a bachelor’s degree in any field along with courses in accounting and business law may be adequate in order to meet qualification requirements.

Insurance Underwriter Career and Job Description

By assuming billions of dollars in risks each year, insurance companies protect individuals and organizations from significant financial loss. Underwriters are needed to identify and calculate a policyholder’s risk of loss. They also work to establish appropriate premium rates, and to write policies that cover these risks. Great trust is placed in underwriters as an insurance company may have to pay excessive claims if the underwriter is too liberal, or may loose customers to competitors if the underwriter is too stingy.

Aided by computers, underwriters analyze information in insurance applications in order to determine if a risk will not result in a loss and is therefore acceptable. Applications are often supplemented with reports from, medical reports, loss-control consultants, actuarial studies, and data vendors. After an adequate amount of information has been reviewed the underwriter must then decide whether to issue the policy and what appropriate premium to charge. Underwriters serve as the main link between the insurance carrier and the insurance agent in making this determination. On occasion, they may also accompany sales agents to make presentations to prospective clients.

Technology is very important to an underwriter’s job. Computer applications called “smart systems” are used by underwriters to efficiently and accurately manage risks. These systems automatically analyze and rate insurance applications, recommend acceptance or denial of the risk, and adjust the premium rate in accordance with the risk. With the help of these systems, underwriters are better equipped to make sound decisions and avoid excessive losses.

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