Underwrites applications with guidelines set for the issuance of policies on a standard or substandard basis. Determines whether to accept, modify or decline a risk through the evaluation of information pertinent to the decision. Analyzes data to determine benefits and rates. Has contact with others to gather information on which to base and defend underwriting decisions. Depending on area may have the following responsibilities: contact with Department of Insurance Personnel, create or review rating materials for accuracy, reply to Department of insurance complaints and Market conduct requests, communicate program changes to clients via bulletins, and/or review and recommend policy language changes.
Applies underwriting and risk selection techniques to determine the acceptability of new and renewal insurance risks.
Responds to inquiries regarding underwriting processes and decisions, interpretation of policy forms and coverage's, and premium levels.
Uses clear guidelines, an underwriting manual, and established authority levels.
Makes independent decision within guidelines and procedures.
Works under direct supervision.
Selects from a variety of established procedures to accomplish assigned tasks.
Distribute bulletins following the quality standards to internal and external customers for compliance or rate and form changes.
Stay informed on product changes through State Filings and possibly through other compliance related channels and take action if necessary as it relates to the underwriting function.
Under guidance from lead or manager, develop underwriting guidelines that are clear, concise, and which complies with state and federal laws as well as achieving company desired results.
2-3 years of related experience in the function or similar activity outside the company.
Knowledgeable in all the duties of the Underwriter I position, or similar positions.
Has gained knowledge & experience with computer system and company products & services.