Insurance Underwriters evaluate and examine insurance requests to determine and assess the risks that the company would undertake if an insurance agreement is issued. They calculate the extent of the coverage provided by the policy and the premium depending on the results of their evaluation. 

After conducting the evaluation, Insurance Underwriters can then decide whether the company should or should not issue an insurance policy. They work closely with Actuaries, Insurance Agents, and Insurance Brokers. Before an Agent or a Broker can close a deal with a potential client, Insurance Underwriters usually have the last say on whether the policy will be processed or not. They are also in charge of evaluating existing customers to decide whether their contracts should be renewed or terminated.

Insurance Underwriters usually work during the standard 9-to-5 office hours, Monday through Friday. When the workload is heavier than usual (e.g., when natural disasters occur), Insurance Underwriters may be required to work extra hours. Their work is almost entirely office-based. On certain occasions, Insurance Underwriters may need to travel to meet with Brokers or clients, although, in most cases, it happens the other way around.

Personality of an Insurance Underwriter
Here are a few personality traits that might indicate that you would make a good Insurance Underwriter:

• Level-headedness

Insurance underwriters are often seen as calm and collected individuals. They are able to remain level-headed in the face of challenging situations and make decisions based on logical reasoning. This allows them to assess risk effectively and make sound judgments about coverage levels and premiums.

• Detail-oriented

Underwriters also have a penchant for detail. They must be able to carefully review documentation and identify any potential risks. This attention to detail ensures that only the most qualified applicants are approved for coverage.

• Good communicators

Finally, Insurance Underwriters are good communicators. They need to explain their decisions to customers and help them understand the coverage options available to them. Good communication skills also come in handy when negotiating with insurance agents and brokers.

These personality traits allow Insurance Underwriters to effectively perform their job duties. They are able to assess risk, make sound decisions, and communicate effectively with customers and other professionals.