An Insurance Underwriter's job is to assess the risk of insuring a person or property and set the premium accordingly. They work for insurance companies, and their job is to protect the company's finances by ensuring that only those with a low risk of making a claim are insured.

Underwriters use computer systems to evaluate risks, but they also take into account human factors such as age and lifestyle. They may visit the home or business to be insured and interview the applicant to get an idea of their character.

Once they have assessed the risk, they set the premium and terms of coverage. These are based on actuarial tables, which show how likely it is that a claim will be made and how much it is likely to cost.

Underwriters have to keep up to date with changes in the law and insurance market, as these can affect the risks they are insuring against. They also need to be able to explain their decisions to customers and give them advice on how to reduce their risks.

Most underwriters work office hours, but some may work shifts or evenings and weekends to cover 24-hour operations. Some travel may be required, especially for those working in commercial insurance.

Average day of an Insurance Underwriter 
Here's a non-exhaustive list of common tasks Insurance Underwriters are required to complete:

• Evaluate the risks of an insurance policy contract
• Work in tandem with Actuaries to calculate the risks of insurance policies
• Gather information on policy applicants (e.g., background checks, medical records)
• Calculate premiums and other payments for insurance applicants
• Analyze risk reports and medical or property evaluations to determine costs
• Decide the length of coverage of a policy
• Negotiate with clients, Insurance Agents, and Brokers
• Adjust existing premiums to ensure that accounts remain profitable
• Write insurance policy agreements
• Establish certain conditions for insurance agreements (e.g., demanding the insured install a security system on their property or requesting a list of designated drivers of a vehicle)
• Stay in contact with Medical Examiners and other experts to gather information on a policy applicant
• Ask for and read experts' reports based on examinations 
• Review a company's records when applying for group or commercial insurance
• Evaluate the financial records of the company
• Evaluate possible losses in case of a natural disaster for property insurance
• Grant or decline insurance policies and renewals based on risk reports