| Detail | For this role |
|---|---|
| Department | Insurance |
| Level | Mid level |
| Reports to | Underwriting Manager |
| Direct reports | None |
| Experience | 2 to 5 years in underwriting |
Underwriter job description template
Copy this job description, replace the text in square brackets and post it on your careers page or a job portal.
Job title: Underwriter
Department: Insurance
Reports to: Underwriting Manager
Location: [City], [office, branch or site]
About the role
An Underwriter assesses insurance proposals and decides whether to accept the risk, on what terms and at what premium, within their authority. They read the risk, apply guidelines, ask for the right information, and price or decline cases. The role reports to the Underwriting Manager. A good underwriter selects risk well so the book stays profitable, decides quickly so business is not lost, prices fairly, refers what is beyond their authority, and keeps clear reasons on file so every decision can be reviewed and defended.
Key responsibilities
- Assess insurance proposals for the risk they carry against the guidelines.
- Decide acceptance, terms, exclusions and premium within the authority limit.
- Ask for medical reports, inspections or documents needed to decide.
- Load, restrict or decline risks that fall outside normal acceptance.
- Price risks fairly using the rating tools and guidelines.
- Refer cases beyond the authority limit with a clear recommendation.
- Keep turnaround fast so the sales channels are supported.
- Record the reasons for each decision for review and audit.
- Watch the loss experience of the risks underwritten and learn from it.
- Support the sales channels with sound, consistent underwriting advice on their cases.
Requirements
- Graduate in any stream, science an advantage
- Knowledge of underwriting in the product line
- Licentiate of the Insurance Institute is an advantage
- 2 to 5 years in underwriting
KRAs and KPIs for a Underwriter
Key result areas for the appraisal form, each with a KPI you can measure every month or quarter.
| Key result area | How to measure it |
|---|---|
| Risk selection | Quality of risk selection above the agreed level on audit |
| Loss ratio | Loss ratio on the underwritten book within the agreed target |
| Turnaround | Proposals decided within the service time above the agreed level |
| Pricing accuracy | Pricing within the guideline and rating tool above target |
| Referral discipline | Cases beyond authority referred correctly above the agreed level |
| Documentation | Decision reasons recorded on file above the agreed level |
Skills and tools
Tools used day to day: Underwriting workbench, Rating and pricing tools, MS Excel, Medical or risk databases, Policy references.
Reporting line and career path
Next roles: Senior Underwriter, Underwriting Manager, Product Manager
Interview questions for a Underwriter
- How do you assess the risk on a proposal you are unsure about?
- How do you decide between loading, restricting and declining a risk?
- How do you price a risk fairly within the guidelines?
- When do you refer a case rather than decide it yourself?
- How do you keep turnaround fast without loosening risk selection?
- How do you handle sales pressure to accept a doubtful proposal?
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What does an Underwriter do?
An Underwriter assesses insurance proposals and decides whether to accept the risk, on what terms and at what premium, within their authority. They read the risk, apply guidelines, ask for needed information, and price, load, restrict or decline cases. They refer what is beyond their authority and record clear reasons.
What is the difference between an Underwriter and an Actuary?
An Underwriter assesses and prices individual risks case by case, deciding what to accept. An Actuary works at the portfolio level, setting pricing models, reserves and assumptions using statistics. Underwriting applies the framework to each proposal; actuarial work builds and tests that framework across the whole book.
What qualifications does an Underwriter need?
Most underwriter roles ask for a graduate degree, with a science background helpful for medical or technical risks. Knowledge of underwriting in the product line matters most, and an insurance qualification such as the Licentiate of the Insurance Institute is a recognised advantage in India.