Recently I went to a family party and got to know that one of my cousins is working as an Insurance underwriter. Honestly I did not know anything about it but was hearing his conversation with my father. Later at night I asked my father what is the role of underwriter in Insurance and also about the skills required to do it. He said that they can be regarded as the main people who decide whether a person should be insured or not. Let me tell you vividly about them here.
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What is the role of underwriting and its meaning?
Underwriting is the process used by the underwriters to evaluate the risks of insuring a person’s small business. It helps the insurance company to know whether one’s company poses a risk and if it does what should be the fair price for its coverage.
Sp the underwriters use computer software programs to know whether a person's application should be approved or not or whether he should be insured or not. This is what I know on what is the role of underwriting in insurance.
I thought it was easy to do the job but when my father listed some skills that an underwriter must have, I realized that their job must be tough. Let me tell you what qualities are needed to do this job.
Good skills in math
Good communication
Problem solving capability
Decision making talent
Of course a university degree is a must but the person should also be detail-oriented.
This is all I got to know about the
role of underwriter in Insurance
Read More:What is automated underwriting system?
What is underwriting real estate?
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Authors Of The Question
What Is The Role Of Underwriting In Insurance?
Krishnanu
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1 Answers
2 Year
2022-09-08T10:02:38+00:00 2022-09-08T10:02:39+00:00Comment
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