TipTop Business Web Directories - Add your sites link starting at £1

If you can see this, your browser doesn't understand IFRAME. However, you can click <A HREF="http://www.tiptopweb.info/newsbar/news_bar.php">here</A> to see the news.

Home | Business | Ethics

Detailed information about an underwriter and their duties and responsibilities

By: alishia

Underwriter is a third party professional who is responsible for evaluating the activities of clients. They evaluate financial risks associated with potential customers effectively and they have stake in the company’s shareholders. In general, there are two basic types of underwriters they are:
Underwriters working for health insurance companies and
Underwriters working for creditors in banks
In both cases, they are appointed for identifying the potential risks of customers.
They undergo special training process so that it will be helpful for evaluate the risks caused by the client for the company. Policy coverage terms can be established based on their evaluation.
Required skills
• He must be very good at communication skills.
• It is necessary to have immense knowledge of technical information.
• Negotiation skills are mandatory.
• He must be very good at decision making and must complete given work within deadline.
• An analytical mind is necessary.
• Some medical knowledge will be helpful for life insurance.
• He must implement his own ideas.
• He must possess good interpersonal skills.
Duties of an Underwriter
The following are the duties performed by underwriters:
Insurance underwriter tasks:
• It is his duty to establish premiums.
• He assists policy holders in formulating insurance and policy plans.
Bank underwriter tasks:
• The reports of the customers are analyzed and documented by him.
• Individual employment history is verified by him.
Mortgage underwriter tasks:
• To decide whether to accept or reject potential client by checking mortgage application form.
• Mortgage forms are verified and evaluated by him.
• Financial history of the client is verified with other related financial companies.
Responsibilities of an underwriter
• Ensure fulfillment with work procedures and productivity targets are achieved by him.
• In order to monitor the activity of service, gathered required information and dashboards are formalized.
• With the help of applicable legal provisions contribute to fulfillment.
• Insurance risks associated with the agency are identified by him.
• Identify the sufficient coverage by health insurance comparison and risks and cost associated with it.
How much does an underwriter make?
Underwriters are paid a huge salary because they contribute lots of work to the organization. The salary paid to an underwriter depends on many different factors like geographical location, experience and working industry. It is estimated that the median salary paid to an underwriter is about $50,181 per year. The lowest and top ten percent of the underwriters will earn about $36,740 and $50,276 per year respectively. Additionally, they are also paid bonuses which fall in between $964 and $10,472 per annum. Various benefits are given to these professionals like holiday trips, sick leaves, health insurance, etc.
Future scope in this field
According to U.S Bureau of Labor Statistics, it is estimated that there will be 11 percent increase in the job market in the coming ten years. By the year 2016, there will be a huge demand for underwriters and a growth of 6 percent is noticed. With experience underwriters can become senior underwriters or financial advisors for companies. The candidate who acquired relevant education and certificates will have a bright future in this field.

Article Source: http://articles.tiptopweb.info

If you want more ideas on how to gift a mom you can visit this Underwriter Job Description as well as Architect Job Description and Merchandiser Job Description

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Ethics Articles Via RSS!

Additional Articles From - Home | Business | Ethics

Business
Investments
Finance
Real Estate
Home Business
Wealth Building

Food and Drink
Health
Fashion
Recreation
Travel

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Submit Articles
Member Login
Top Authors
Submission Guidelines
Ezine Notifications
Article RSS Feeds

About Us
Link to Us
Contact Us
Privacy Policy
Terms of Service

Vote For Tiptop Web Aritcles Directory - http://www.articles.tiptopweb.info
at Top Article Directory List
Top List

Detailed information about an underwriter and their duties and responsibilities addthis_pub = 'ex_plo_rer';

Detailed information about an underwriter and their duties and responsibilities