Automobile and Property Underwriter Job Description
An Automobile and Property Underwriter develops and assesses risk associated with insuring property and vehicles. The job entails assessing insurance applications, quotes, and policies for accuracy, risk analysis, and making decisions about accepting or declining risks. Automobile and Property Underwriters play a crucial role in the insurance industry, as they are responsible for determining whether or not to provide coverage.
- Evaluate and decide on risks to insure property and vehicles
- Analyze and research associated risks
- Review and verify information on applications, quotes and policies
- Generate reports to monitor risk movement
- Access available resources to assess risks
- Develop and maintain relationships with internal and external customers
- Comply with all applicable laws and regulations
- Ensure policies and procedures are implemented and followed
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- A Bachelor’s degree in Insurance, Risk Management, Business Administration or related field
- Prior experience in the insurance industry
- Advanced technical skills in computers, Microsoft Office, and other software
- Exceptional customer service skills
- In-depth knowledge of insurance terms, principles and regulations
- Excellent communication (oral and written) skills
- Ability to make decisions quickly and accurately
An Automobile and Property Underwriter is an important employee in the insurance industry, as they are responsible for assessing potential risk and determining whether or not to provide cover. This job requires detailed knowledge and expertise in insurance principles and regulations in combination with excellent communication, customer service, and technical skills.
What qualifications are required to become a property and automobile underwriter?
Typically, people who want to become a property and automobile underwriter need a bachelor’s degree in finance, business, or a related field. In addition to education, they must have experience in risk management or the insurance industry, strong communication and problem-solving skills, and the ability to understand and interpret data. In order to become licensed, many states require that property and automobile underwriters pass a licensing exam before being allowed to practice. Certifications such as the Associate in Underwriting (AU) or the Chartered Property and Casualty Underwriter (CPCU) may also be required or beneficial. It is also important that property and automobile underwriters possess a basic understanding of computers, software, and other technology.
What qualifications do I need to become an insurance underwriter?
In order to become an insurance underwriter, you will typically need a college degree, such as a bachelor’s or associate’s degree in finance, business, economics, or accounting. Additionally, a certification from the Casualty Actuarial Society or the American Institute for Chartered Property Casualty Underwriters may be beneficial in some cases. Many employers also prefer experience in the insurance industry or related field.