Underwriter
Underwriters study insurance applications and make decisions on the terms and conditions of new insurance policies.
Tasks & duties
Underwriters may do some or all of the following:
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assess risks, and apply the appropriate premiums and conditions to policies
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analyse information in insurance applications and about applicants
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consult a company's list of insurance rates
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consult actuaries to help calculate premiums in unusual cases
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carry out research
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read financial and medical reports, building surveys or inspection reports
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decide whether people can be insured for a certain amount to prevent over-insuring
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work out the amount the company pays if a loss occurs
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decide if a new policy can be issued and inform the insurance representative of the decision
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help develop and write new insurance policies
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make sure promotional policy information is correct
Skills & knowledge
Underwriters need to have:
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knowledge of the insurance industry, particularly the area they work in, such as fire, health, accident, marine or commercial insurance
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knowledge of insurance policies, including what each policy covers and what policies are offered by other insurance companies
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an understanding of relevant laws, such as the Privacy Act and the Human Rights Act
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research skills
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organisational ability
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good communication skills
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maths skills
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computer skills
Entry requirements
There are no specific requirements for becoming an underwriter, but some experience in or knowledge of the insurance industry may be required.
Secondary education
A tertiary entrance qualification is required to enter further training. Maths is recommended.
Training on the job
Skills are gained on the job. Underwriters may attend in-house or private courses in their specialist area.
Useful experience
Useful experience for underwriters includes:
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insurance work, such as working in claims, customer services or as a sales representative
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medical work
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survey or inspection work
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legal or research work
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banking, accounting or investment work
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call centre work
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work involving analysis
Related courses
Insurance and Actuarial Studies
For more information, please refer to Career Services.
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