Underwriting is one of the job profiles that are available in the Insurance sector. The main role of an insurance underwriter is to determine the feasibility of insurance applications. They analyze insurance applications and determine whether it must be denied or accepted. The Insurance underwriter’s role is to analyze the reports of actuaries and design certain policies and conditions for the insurance product for the applicant.

The policies are developed within the guidelines and terms of the insurance companies offering such insurance products. Usually insurance underwriters specialize in particular area of insurance such as general insurance, life insurance, commercial insurance, or in re insurance. The ultimate goal of these professionals is to provide optimum profit to the insurance carrier with minimum loss factor.

Qualifying Exam

A Bachelor degree is desirable to get enrolled as insurance underwriter. Bachelor degree in Computer or allied subjects is much preferred as the job profile includes enormous operation of Computers. A short-term course in finance or accounting will also be highly desirable to become an insurance underwriter. Higher qualifications such as MBA will help professionals to get in to much senior profiles with experience and expertise.

Who are eligible to apply?

An aspirant who has successfully completed the 12th Class can apply for bachelor degree in any of the recognized Universities in India.  A bachelor degree with computer proficiency and accounting know how is sufficient to begin job as insurance underwriters. The higher study options such as MBA improve the demand of the individual in the job market.

Key points in the process

• Finish the 12th class and clear the board exams with good marks
• Undergo 3-year degree course from a reputed institute in any of the stream, most preferably in Computer Science
• Pursue MBA through regular or correspondence mode of study (if looking for higher job profiles).
• Search out a challenging job in any of the insurance companies offering jobs in insurance underwriting

Skills required for an Insurance Underwriter

An insurance underwriter must possess certain skill sets along with educational qualifications. They must possess analytical and investigating approach in doing things. Computer literacy along with knowledge of Business, finance and accounts are required to become an accomplished insurance underwriter. They must be interactive in nature and should possess sound communication skills.