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Insurance Underwriter Jobs
Insurance Underwriter jobs involve backing or guaranteeing something. Insurance Underwriters decide whether or not to accept the risk of providing financial protection to clients and how much their insurance premiums should be.
Insurance Underwriter jobs involve carefully analysing and assessing how likely risks such as accidents, flood damage or theft may be, investigating to establish the facts about things such as current illnesses, or the value of property, finding out about the client's past claims and what safety precautions they are taking.
Key Responsibilities of an Insurance Underwriter:
- To work under pressure to provide quality fast-paced underwriting solutions to commercial clients.
- To effectively decide which product would be the most suitable for client's needs.
- To clear terms for quotes sent by the executives within the new business, renewals and Cersture teams with due reference to premium, terms & conditions and policy endorsements.
- To provide effective support to others in the team and to the new business, renewals and Cersture teams.
- To provide solutions to queries and technical assistance for other departments.
- To liase with insurers and maintain relationships.
Insurers deal with straightforward cases as well as unusual or complex insurance portfolios valued at millions of pounds. They often specialise in a product area such as household, motor insurance or life assurance.
The average salary for trainees is £25,000 but can increase to up to about £75,000 for senior class insurance underwriters.
Insurance Underwriters need to be decisive and logical individuals, who have good written and verbal communication skills, be good with numbers and computers, be good at negotiating, but are diplomatic and enjoy working with statistics.
Typically, there are two ways into Insurance Underwriter jobs. Many large insurance companies take on graduates on training programmes. School leavers can also start as insurance technicians and progress to become Underwriters by working up through the ranks.
Training is usually a combination of practical experience and study for professional qualifications. Lloyd's Underwriters have to pass the Lloyd's Introductory Test within 15 months of starting work. As careers develop, they may progress to handling more complex risks and possibly supervising a team of Underwriters.
They may also move into risk management, surveying and claims recovery.
Contact the Insurance Division Team
Email the Insurance Division at email@example.com.
Candidates can submit a CV online using our Register online service.
Insurance Jobs by Email
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