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Insurance Underwriters
SOC Code: 13-2053.00

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Sample of reported job titles: Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Consultant, Underwriting Director, Underwriting Manager

Tasks

  • Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
  • Evaluate possibility of losses due to catastrophe or excessive insurance.
  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  • Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
  • Authorize reinsurance of policy when risk is high.

Technology Skills

  • Data base user interface and query software - Database software
  • Document management software - FileNet Content Manager
  • Enterprise resource planning ERP software - Anodas Software Limited Phoenix; Consilience Software Maven Insurance Automation Suite; SIS SEMCI PARTNER; Skywire Software InsBridge (see all 7 examples)
  • Financial analysis software - Delphi Technology ; Fannie Mae Desktop Underwriter; RGA Facultative Application Console; Valen Technologies Risk Manager (see all 8 examples)
  • Information retrieval or search software - LexisNexis
  • Internet browser software - Web browser software
  • Object or component oriented development software - C++
  • Office suite software - Microsoft Office
  • Presentation software - Microsoft PowerPoint
  • Spreadsheet software - Microsoft Excel
  • Word processing software - Microsoft Word

Tools Used

  • Desktop calculator - 10-key calculators
  • Desktop computers
  • Notebook computers - Laptop computers
  • Personal computers

Knowledge

  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

Skills

  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Coordination - Adjusting actions in relation to others' actions.
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Service Orientation - Actively looking for ways to help people.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.

Abilities

  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Speech Clarity - The ability to speak clearly so others can understand you.
  • Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
  • Speech Recognition - The ability to identify and understand the speech of another person.
  • Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Flexibility of Closure - The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.

Interests

  • Interest code: CEI
    • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
    • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
    • Investigative - Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.

Work Context

  • Electronic Mail - 100% responded “Every day.”
  • Spend Time Sitting - 93% responded “Continually or almost continually.”
  • Telephone - 90% responded “Every day.”
  • Indoors, Environmentally Controlled - 87% responded “Every day.”
  • Time Pressure - 60% responded “Every day.”
  • Contact With Others - 63% responded “Constant contact with others.”
  • Face-to-Face Discussions - 62% responded “Every day.”
  • Freedom to Make Decisions - 47% responded “A lot of freedom.”
  • Frequency of Decision Making - 63% responded “Every day.”
  • Importance of Being Exact or Accurate - 57% responded “Extremely important.”
  • Structured versus Unstructured Work - 57% responded “Some freedom.”
  • Letters and Memos - 55% responded “Every day.”
  • Impact of Decisions on Co-workers or Company Results - 53% responded “Important results.”
  • Work With Work Group or Team - 40% responded “Very important.”
  • Deal With External Customers - 33% responded “Extremely important.”
  • Duration of Typical Work Week - 60% responded “40 hours.”
  • Frequency of Conflict Situations - 31% responded “Once a year or more but not every month.”
  • Importance of Repeating Same Tasks - 40% responded “Extremely important.”
  • Level of Competition - 43% responded “Highly competitive.”
  • Deal With Unpleasant or Angry People - 37% responded “Once a week or more but not every day.”
  • Spend Time Making Repetitive Motions - 37% responded “Continually or almost continually.”
  • Physical Proximity - 73% responded “Slightly close (e.g., shared office).”

Education

Percentage of RespondentsEducation Level Required
70%Bachelor's degree
10%High school diploma or equivalent
10%Associate's degree

Work Styles

  • Integrity - Job requires being honest and ethical.
  • Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
  • Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
  • Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
  • Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
  • Initiative - Job requires a willingness to take on responsibilities and challenges.
  • Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Persistence - Job requires persistence in the face of obstacles.
  • Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.

Work Values

  • Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
  • Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
  • Support - Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

Wages & Trends

  • Median wages (2017)
    • $33.54 hourly, $69,760 annual
  • Employment (2016)
    • 104,000 employees
  • Projected growth (2016-2026)
    • Decline (-2% or lower)
  • Projected job openings (2016-2026)
    • 7,500

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