Summary Report for:
13-2053.00 - Insurance Underwriters
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Sample of reported job titles:
Underwriter, Account Underwriter, Customer Service Representative, Personal Lines Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Commercial Underwriter, Insurance Underwriter
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Work Context | Job Zone | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment
Tasks
- Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
- Decline excessive risks.
- Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- 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.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Authorize reinsurance of policy when risk is high.
back to top
Tools & Technology
Tools used in this occupation:
| Calculators or accessories — 10-key calculators |
| Desktop computers |
| Notebook computers |
| Personal computers |
Technology used in this occupation:
| Document management software — FileNet Content Manager |
| Enterprise resource planning ERP software — Anodas Software Limited Phoenix; Consilience Software Maven Insurance Automation Suite; SIS SEMCI PARTNER; Skywire Software InsBridge |
| Financial analysis software — Fiserv Advanced Underwriting; LabOne NET; RGA Facultative Application Console; Valen Technologies Risk Manager |
| Presentation software — Microsoft PowerPoint |
| Spreadsheet software — Microsoft Excel |
| Word processing software — Microsoft Word |
back to top
Knowledge
| Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction. |
| English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. |
| Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology. |
| Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications. |
back to top
Skills
| Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. |
| Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. |
| Reading Comprehension — Understanding written sentences and paragraphs in work related documents. |
| Writing — Communicating effectively in writing as appropriate for the needs of the audience. |
| Speaking — Talking to others to convey information effectively. |
| Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making. |
| Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one. |
| Time Management — Managing one's own time and the time of others. |
| Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. |
| Service Orientation — Actively looking for ways to help people. |
back to top
Abilities
| Written Comprehension — The ability to read and understand information and ideas presented in writing. |
| Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense. |
| Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). |
| Near Vision — The ability to see details at close range (within a few feet of the observer). |
| Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem. |
| Speech Recognition — The ability to identify and understand the speech of another person. |
| Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences. |
| Oral Expression — The ability to communicate information and ideas in speaking so others will understand. |
| Flexibility of Closure — The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material. |
| Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations). |
back to top
Work Activities
| Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources. |
| Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. |
| Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems. |
| Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail. |
| Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time. |
| Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. |
| Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts. |
| Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. |
| Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards. |
| Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job. |
back to top
Work Context
| Telephone — How often do you have telephone conversations in this job? |
| Contact With Others — How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? |
| Spend Time Sitting — How much does this job require sitting? |
| Freedom to Make Decisions — How much decision making freedom, without supervision, does the job offer? |
| Face-to-Face Discussions — How often do you have to have face-to-face discussions with individuals or teams in this job? |
| Structured versus Unstructured Work — To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals? |
| Importance of Being Exact or Accurate — How important is being very exact or highly accurate in performing this job? |
| Time Pressure — How often does this job require the worker to meet strict deadlines? |
| Letters and Memos — How often does the job require written letters and memos? |
| Indoors, Environmentally Controlled — How often does this job require working indoors in environmentally controlled conditions? |
back to top
Job Zone
| Title |
Job Zone Three: Medium Preparation Needed |
| Overall Experience |
Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job. |
| Job Training |
Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. |
| Job Zone Examples |
These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include funeral directors, electricians, forest and conservation technicians, legal secretaries, interviewers, and insurance sales agents. |
| SVP Range |
(6.0 to < 7.0) |
| Education |
Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree. Some may require a bachelor's degree. |
back to top
Interests
Interest code: CE
| Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow. |
| Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business. |
| Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally. |
back to top
Work Styles
| Integrity — Job requires being honest and ethical. |
| Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. |
| Attention to Detail — Job requires being careful about detail and thorough in completing work tasks. |
| Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations. |
| Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. |
| Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems. |
| Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. |
| Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace. |
| Initiative — Job requires a willingness to take on responsibilities and challenges. |
| Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job. |
back to top
Work Values
| Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical. |
| Working Conditions — Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions. |
back to top
Related Occupations
back to top
Wages & Employment Trends
National
| Median wages (2006) |
$25.17 hourly, $52,350 annual |
| Employment (2006) |
104,000 employees |
| Projected growth (2006-2016) |
Slower than average (3% to 6%)
|
| Projected need (2006-2016) |
35,000 additional employees |
State & National
Source: Bureau of Labor Statistics 2006 wage data
and 2006-2016 employment projections
.
"Projected growth" represents the estimated change in total employment over the projections period (2006-2016). "Projected need" represents job openings due to growth and net replacement.
back to top
