Expand mobile version menu
  Skip to main content

Insurance Underwriter

salary graphic

AVG. SALARY

$68,980

education graphic

EDUCATION

Bachelor's degree

job outlook graphic

JOB OUTLOOK

Decreasing

Real-Life Activities

Real-Life Decision Making -- Solution

You approve the application at the standard rate.

Two years down the road, a claim is entered on this policy. It turns out this customer had a history of hypertension, which caused a heart attack. Your supervisor wants to know why you didn't look into this application more closely. This error has cost your company a lot of money.

"We approve about 85 to 90 percent of our applications," says Facteau. "But essentially we're risk managers."

Underwriters are responsible for assuming the risk of insuring the applicants. If they aren't thorough enough, it can mean big losses for the company.


Contact

  • Email Support

  • 1-800-GO-TO-XAP (1-800-468-6927)
    From outside the U.S., please call +1 (424) 750-3900

Support


Powered by XAP

OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.