Not only judging whether applications are accepted, but underwriters also decide the terms and conditions

of the insurance by assessing the probability of a claim being made. Your role would involve:

Assessing background information on the client Studying insurance proposals Calculating the risk Deciding how much should be paid out Liaising with professionals and specialists to help judge risk assessment Selecting appropriate and competitive premiums based on information and judgement Writing policies and adding specific conditions when required Deciding whether the risk should be shared with a re-insurer Negotiating terms

Insurance Underwriters Job Description

Insurance Underwriters - Job Description
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Insurance Underwriters Tasks Performed

Authorize reinsurance of policy when risk is high. Decline excessive risks. Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe profitable distribution of risks, using reference materials. Evaluate possibility of losses due to catastrophe or excessive insurance. Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property. Review company records to determine amount of insurance in force on single risk or group of closely related risks. Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.

Insurance Underwriters Work Activities

analyze financial data evaluate degree of financial risk follow contract, property, or insurance laws gather relevant financial data identify financial risks to company inspect property make decisions review data on insurance applications or policies use computers to enter, access and retrieve financial data write business correspondence

Claims Examiners Property Casualty Insurance Job Description

Claims Examiners Property Casualty Insurance - Job Description
Review settled insurance claims to determine that payments and settlements have been made in accordance with company practices and procedures. Report overpayments, underpayments, and other irregularities. Confer with legal counsel on claims requiring litigation.

Claims Examiners Property Casualty Insurance

Tasks Performed
Adjust reserves and provide reserve recommendations to ensure reserving activities consistent with corporate policies. Communicate with reinsurance brokers to obtain information necessary for processing claims. Conduct detailed bill reviews to implement sound litigation management and expense control. Confer with legal counsel on claims requiring litigation. Contact and/or interview claimants, doctors, medical specialists, or employers to get additional information. Enter claim payments, reserves and new claims on computer system, inputting concise yet sufficient file documentation. Examine claims investigated by insurance adjusters, further investigating questionable claims to determine whether to authorize payments. Investigate, evaluate and settle claims, applying technical knowledge and human relations skills to effect fair and prompt disposal of cases and to contribute to a reduced loss ratio. Maintain claim files, such as records of settled claims and an inventory of claims requiring detailed analysis. Pay and process claims within designated authority level. Prepare reports to be submitted to company's data processing department. Present cases and participate in their discussion at claim committee meetings. Report overpayments, underpayments, and other irregularities. Resolve complex, severe exposure claims, using high service oriented file handling. Supervise claims adjusters to ensure that adjusters have followed proper methods. Verify and analyze data used in settling claims to ensure that claims are valid and that settlements are made according to company practices and procedures.

Claims Examiners Property Casualty Insurance Work Activities

communicate technical information compile information through interviews confer with prosecuting attorney develop management control systems direct and coordinate activities of workers or staff examine documents for completeness, accuracy, or conformance to standards follow contract, property, or insurance laws investigate insurance claims maintain insurance records maintain records, reports, or files make presentations note discrepancies in financial records obtain information from individuals prepare reports recommend claim action review data on insurance applications or policies use computers to enter, access or retrieve data use interviewing procedures use knowledge of investigation techniques verify investigative information