Insurance underwriter

Insurance underwriter job description: Typical employers | Qualifications and training | Key skills | Useful links | Find jobs and courses

Determining risk is a complex process and the job relies on sensible judgement and meticulous attention to detail. The underwriter must ensure that accurate quotes are produced that are competitive to the customer, yet profitable for the company.

Typical duties include:

• writing quotes
• determining premiums
• preparing insurance policies terms and conditions
• liaising with insurance brokers and customers.

Typical employers of insurance underwriters

• insurance companies
• reinsurance companies
• brokers.

Vacancies are advertised by recruitment agencies and careers services and in local and national newspapers and specialist publications such as Insurance Times and Post Magazine. The majority of insurance companies operate graduate recruitment schemes, which can be a route into underwriting - for these early applications to major employers are advisable.

Qualifications and training required

Graduates from any degree discipline can become underwriters, although some employers prefer a qualification in accounting, finance, economics, law, management or business studies. Specialist medical knowledge or a scientific, technical or engineering degree may be necessary for some vacancies, particularly those within life assurance. Relevant experience gained via vacation work and placements can be beneficial.

Training is normally provided for successful candidates once in post, often leading to professional qualification with the Chartered Insurance Institute. Career progression is possible by promotion into senior underwriting positions or through specialisation or management. However, advancement can often entail relocation.

Key skills for insurance underwriters

• excellent time-management
• independence
• analytical skills
• verbal and written communication skills.