Profession property insurance underwriter

Property insurance underwriters assess and determine the risk and coverage of a client's property insurance. They analyse and review underwriting policies according to legal regulations.

Personality Type

• Conventional / Enterprising
• Enterprising / Conventional

Knowledge

• Principles of insurance

  Understand the principles of insurance, including third party liability, stock and facilities.

• Types of insurance

  The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.

• Actuarial science

  The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.

• Real estate underwriting

  The process of evaluating applications for loans in real estate activities in which not only the prospective borrower but also the property being traded in is evaluated in order to assess whether the property will be capable of redeeming its value.

• Claims procedures

  The different procedures that are used to formally request a payment for a suffered loss from an insurance company.

• Property law

  The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.

• Insurance law

  The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.

Skills

• Analyse insurance risk

  Analyse the probability and size of the risk that is to be insured, and estimate the value of movable or immovable property of the client.

• Analyse claim files

  Check the claim from a customer and analyse the value of the lost materials, buildings, turnover or other elements, and judge the responsibilities of the different parties.

• Analyse financial risk

  Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

• Review insurance process

  Analyse all documentation related to a specific insurance case in order to ensure that the application for insurance or the claims process was handled according to guidelines and regulations, that the case will not pose significant risk to the insurer or whether claims assessment was correct, and to assess the further course of action.

• Review investment portfolios

  Meet with clients to review or update an investment portfolio and provide financial advice on investments.

Optional knowledge and skills

Source: Sisyphus ODB