The underwriter assesses the business risks based on information transmitted to him by the inspector-verifier or by the distribution network. He/she negotiates, draws up and monitors insurance contracts taken out by companies. Read this job description to find out all about his missions, his training and his salary.
Duties of an underwriter
The underwriter studies the various customer calls for tenders, meticulously analyzes each file and the risks to be insured in order to check how these risks can be guaranteed by the contract. If the risks are too high, he can decide not to guarantee them. Otherwise, it determines the conditions and sets the amount of the premiums. On a daily basis, this professional evaluates the risk factors and the level of customer claims. It is up to him to define the terms of subscription, to draw up the draft contracts in order to submit them to the customers. He is called upon to participate and intervene during contract negotiations.
An outstanding expert
The underwriter is often specialized in a specialized field: industrial production, transport of goods, public works... He is often called upon as an expert to participate in studies on new insurance products. He then defines the pricing scales as well as the guarantee conditions (clauses, exclusions) which will then be applied by all subscribers and writers. Eventually, he can be asked to participate in the assessment of a major loss.
Skills/Qualities needed for this job
- Knowledge of law, economics and insurance
- Practice of at least one foreign language
- Oral and written fluency
- Vigilance, rigor and integrity
- Sense of organization and negotiation
Training that leads to the profession
Diplomas issued by business , management and engineering schools provide access to the profession. But before exercising the profession of underwriter, a second skill or professional experience is appreciated and this accelerates access to a position of responsibility.
Do not miss
We give you an appointment at the Studyrama Formations Banking, Finance, Insurance, Accounting exhibition organized in Paris. A unique opportunity to discover the establishments and discuss with the educational managers to ask them all your questions!
Job opportunities
Insurance companies call on this professional for their know-how but also because with an underwriter, they are safe from risks and unpleasant surprises. This profession is difficult to access for young people who have recently graduated. On the other hand, it offers an interesting second career opportunity for engineers from industry.
Professional evolution
Thanks to his experience, his skills, his know-how but also his professionalism, the subscriber can become an inspector.
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