Complex problem solver. Out-of-the-box thinker. When you think of careers in insurance, these terms may not immediately come to mind – but they should. More than ever, careers in insurance involve creative, compassionate problem solvers and independent thinkers.
What is Underwriting?
If you have ever completed an application for insurance, you have (unknowingly) worked with an underwriter. Insurance underwriters calculate and assess the risk of insuring a particular person or group. They play a key role in determining insurance premiums for the insured.
It sounds like a lot of number-crunching.
Math skills play a critical role in an underwriter’s job. Investopedia explains, if an underwriter is too conservative, an insurance company may lose business. If he or she is too generous, the company may have to pay excessive claims.
However, to be a truly successful underwriter, they need to be able to think outside the box. Underwriters are called up on to find innovative solutions so the company they work for isn’t in a position to lose business. They are a key part of building solid and long-lasting customer relationships.
Are Underwriters Stuck Behind a Monitor All Day?
Some of the most successful underwriters today have the ability to build personal relationships with their customers – the insurance agents in the field. Leveraging technology is crucial for success, but building key relationships is just as important.
What Are the Education Requirements?
Though many successful underwriters have earned a Bachelor’s degree, earning a professional designation such as the Associate in Commercial Underwriting is just as important for long term success in this field. Earning this designation is key to demonstrating proficiency in changing economies, anticipating natural disasters and understanding the use of technology. Often, people with this designation are key in developing new business models and streamlining the way we look at this risk.
Think a Career in Underwriting May be for You?
Companies like Farm Bureau depend on Insurance Underwriters to drive our business forward. Underwriters play a crucial role in how we do business. They utilize strong analytical skills to balance people with profitability. If you feel you fit the bill, we would like to speak with you – review current opportunities on the Career Center page.