Life Underwriter Job Description
Life Underwriter Duties & Responsibilities
To write an effective life underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included life underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Life Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Life Underwriter
List any licenses or certifications required by the position: FLMI, FALU, ALU, LOMA, ALMI, GR1
Education for Life Underwriter
Typically a job would require a certain level of education.
Employers hiring for the life underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Education, Management, Finance, Medical, Accounting, Economics, Health, Business/Administration, Fashion
Skills for Life Underwriter
Desired skills for life underwriter include:
Desired experience for life underwriter includes:
Life Underwriter Examples
Life Underwriter Job Description
- Assessment of medical and financial documents (blood tests, cardiovascular reports… and accounting documents) to establish a recommendation with the help of our underwriting tool and Medical Officers
- Preparation and/or onsite support for client facing activities, such as trainings and audits
- Support for translation of our underwriting-related tools such as Life Guide
- Work closely with the firm’s producers case design team to transition from design to implementation
- Supporting proposition and product development in line with business priorities
- Designing, coding and testing our expert underwriting system rules to evolve the system, maximise STP rates, improve customer journeys and streamline processes
- Monitoring and investigating industry and medical advancements and how these can be applied to underwriting processes
- Carrying out analysis to support business cases
- Providing support, guidelines and training for Customer Services Underwriters and Claims Assessors
- Underwriting complex cases where required
- Industry association memberships expected
- Degree or equivalent qualification desired – e.g ACII
- Thorough knowledge of MedMal underwriting and reinsurance
- Exposure to business planning
- Advanced level understanding of relevant software, including Excel
- Thorough knowledge of legal and regulatory requirements (specific reference to FCA / Lloyds regulation)
Life Underwriter Job Description
- Is creative in use of underwriting tools and techniques to write profitable business
- Uses pricing models for appropriate risk selection/pricing and is able to communicate rationale for underwriting decisions
- Exhibits a commitment to finding ways to write business without sacrifice of quality, including
- Appropriate leverage of all lines and account underwriting
- Successful individual will be responsible for both IT and Life Science risks
- Establish and maintain a clear governance structure for the underwriting function, including underwriting authorities, underwriting manual, and quality assurance reviews
- Ensures high level of customer satisfaction by partnering with field and team members and when handling complex and sensitive written and verbal communications
- Creates, drives and executes on strategies for new and/or renewal accounts (prospective book management, executes on the mix strategy, low strategy, territorial and agency sales plans)
- Successfully sells the proposal
- Takes lead in communicating strategy to the agency
- Drives performance targets to completion #LI-CA1 #LI-CA1
- Minimum of 3 years with Commercial Underwriting experience
- Innovative and motivated individual
- Experienced Underwriting Professional with excellent technical underwriting knowledge and expertise across a range of Protection products
- Ability to analyse data to investigate, develop and create a compelling business case
- A proven “can do” attitude and flexibility
Life Underwriter Job Description
- Trusted advisor to agency
- Manage key producer accounts in concert with Case Specialists
- Review insurance policy submissions and determine appetite to underwrite, underwrite and price new and renewal business, and present quotes to the agent
- Developing training for underwriting staff per internal and external audits and claims
- Review of early claims and surrounding process
- Assist with appeals tracking and handling
- Achieve departmental quality in Risk Selection
- Expert Risk Selection-review, recommendation and decision's regarding large amount, complex medical and financial applications with quality, timeliness and productively
- Advanced medical knowledge
- Advanced knowledge of state regulations and complies within guidelines
- Professional qualification in life and disability underwriting, ALUCA, ANZIIF CII, ALU, FALU
- Bachelor degree or post graduate level qualification in relevant field desirable
- Medical knowledge, inclusive of terminology, procedures and drugs
- Local market/direct experience preferred
- Strong negotiation skills and ability to persuade without creating conflict
- Business acumen and sound leadership skills
Life Underwriter Job Description
- Resolves, assists, advises, and presents underwriting information to upper management and underwriting staff
- Departmental development and compliance
- Accountable for providing thought leadership and subject matter expert insights to the Hong Kong General Insurance, Lines of Business Heads and the country underwriting teams to drive profitable growth in line with strategic underwriting goals and strategies
- Support the formulation and execution of the underwriting plans, Portfolio strategies, WAV strategies, Customer strategies and Go-To-Market strategies
- Manage and monitor business portfolio to ensure technical profitability whilst striking a balance between technical excellence and customer service
- Monitor underwriting strategy relating to performance metrics, data and insights, syndicate findings and make recommendations to changes in underwriting strategy as necessary
- Conduct deep analytics within the business (across claims, underwriting and distribution) plus accessing market and industry data to provide deep insights to the Commercial Leadership Team and Underwriting Business heads
- Assist with approval of terms and conditions and Line of Business-wide issues, enabling Underwriters to write profitable business
- Provide expert support to Underwriters
- Contribute to the development of business plans and pricing strategies and alignment of these with Business Unit Strategies
- Thorough knowledge of Life Underwriting risk selection process and Life Company Operations
- Ability to handle and prioritize multiple tasks and deadlines
- Must remain in current role for one year
- Ability to adapt well to a variety of training environments
- Strong analytical skills with the ability to interpret data, identify trends and draw conclusions
- Strong sales skills and business acumen
Life Underwriter Job Description
- Responsible for the data management and ensure data reasonableness in the areas of business analysis, corporate and planning functions
- Assist in reinsurance management
- Conduct portfolio analysis and monitor the performance of the portfolio
- Provide the findings and recommendations to management for review and consideration
- Set underwriting strategy and develop underwriting guidelines
- Monitor and ensure that the underwriting philosophy and risk acceptance guidelines are being observed
- Responsible for product development and providing technical advice
- Calculates prospect and/or renewal rates for group cases based on analysis of group's experience, industry and demographics for L&D business
- Prepares annual settlements and reports, rate projections and post sale review
- Understand underwriting policies, guidelines, practices and procedures, and has the ability to influence and champion changes to improve processes while maintaining mortality expectations
- In addition to following all corporate guidelines, successful Middle Market Associates are expected to demonstrate satisfactory progress during the Training Program and achieve passing scores on all tests, case studies, and foundational underwriting assessments
- Travel is required for the Training Program
- Basic knowledge and understanding of insurance products and concepts
- Basic knowledge and understanding of underwriting philosophies related to profitability, growth and risk concepts
- Demonstrated experience and proficiency using PC software applications
- Completes Life underwriting training courses to gain understanding of risk evaluation process