Reviews individual applications for insurance to evaluate degree of risk involved and determines acceptance of applications.
This career is part of the Finance cluster Insurance pathway.
A person in this career:
- Examines documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
- Declines excessive risks.
- Writes to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluates possibility of losses due to catastrophe or excessive insurance.
- Reviews company records to determine amount of insurance in force on single risk or group of closely related risks.
- Decreases value of policy when risk is substandard and specifies applicable endorsements or applies rating to ensure safe, profitable distribution of risks, using reference materials.
- Authorizes reinsurance of policy when risk is high.