Skills & Competencies for Underwriter I
Underwriter I job profile
Book a Demo and Receive a Sample Job ProfileJOB SUMMARY for Underwriter I
Reviews and analyzes risk characteristics on insurance applications, renewals, and change requests.
JOB RESPONSIBILITIES for Underwriter I
Utilizes underwriting guidelines, rules, standards, and levels of authority to accept, reject, or mitigate risk for applications and determine appropriate premiums, limits, and coverages. Calculates renewal rates. Ensures that underwriting activities comply with all industry and governmental regulations. May coordinate with field agents to collect or clarify information or decisions.
Underwriter I SALARY RANGE
BASE 50%
$62,846
TOTAL 50%
$65,212
Job Level
P01
Job Code
FA06000310
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager
Underwriter I Skills and Competencies List
8 hard skills or competencies (industry competencies) for Underwriter I
1
Industry Competency –
Insurance Industry
Proficiency Level -1
Level 1 Behaviors
(General Familiarity)
Names the commonly used tools and techniques for insurance planning and risk management.
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Level 2 Behaviors
(Light Experience)
Reports any discrepancies encountered in reviewing policy records and documentation.
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Level 3 Behaviors
(Moderate Experience)
Works with insurance agents and team members to update and process insurance policies.
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Level 4 Behaviors
(Extensive Experience)
Recommends alternative insurance claims processing methods to minimize operational costs.
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Level 5 Behaviors
(Mastery)
Stays abreast of the changes in insurance industry laws to ensure our product and service adherence.
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2
Industry Competency –
Insurance Legal and Regulatory Environment
Proficiency Level -1
Level 1 Behaviors
(General Familiarity)
Explains the application of insurance regulatory laws to avoid civil penalties and license suspension.
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Level 2 Behaviors
(Light Experience)
Supports the execution of a legal and regulatory framework to promote strict insurance compliance.
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Level 3 Behaviors
(Moderate Experience)
Performs compliance reviews to determine possible violations and deficiencies in insurance regulations.
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Level 4 Behaviors
(Extensive Experience)
Trains teams on new laws and regulations to reduce liability risks and compliance violations.
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Level 5 Behaviors
(Mastery)
Establishes best practices in creating insurance laws and regulations to prevent frauds and malpractices.
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3
Underwriter I
- Skill and Competency
Proficiency Level - 3
4
Skill and Competency -
Underwriter I
Proficiency Level - 4
5
Competency for -
Underwriter I
Proficiency Level - 5
7 soft skills or competencies (core competencies) for Underwriter I
1
Core Competencies –
Standard Operating Procedures (SOP)
Proficiency Level -1
Level 1 Behaviors
(General Familiarity)
Lists the typical processes of SOP development.
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Level 2 Behaviors
(Light Experience)
Supports the analysis of our business and operations processes for SOP design and development.
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Level 3 Behaviors
(Moderate Experience)
Researches new tools and techniques for SOP daily management.
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Level 4 Behaviors
(Extensive Experience)
Resolves complex issues arising from SOP practices; develops preventative solutions accordingly.
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Level 5 Behaviors
(Mastery)
Monitors industry for SOP trends and best practices; makes recommendations about those that benefit our business.
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2
Core Competencies –
Critical Thinking
Proficiency Level -2
Level 1 Behaviors
(General Familiarity)
Lists the methods, principles, and tools for practicing critical thinking.
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Level 2 Behaviors
(Light Experience)
Explains clearly to others the logical connection between ideas.
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Level 3 Behaviors
(Moderate Experience)
Verifies the accuracy and quality of evidence and argumentation.
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Level 4 Behaviors
(Extensive Experience)
Predicts the potential impact of future decisions.
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Level 5 Behaviors
(Mastery)
Shares experiences on how to develop critical thinking and analysis-synthesis of thinking.
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3
Underwriter I
- Skill and Competency
Proficiency Level - 3
4
Skill and Competency -
Underwriter I
Proficiency Level - 4
5
Competency for -
Underwriter I
Proficiency Level - 5
Summary of Underwriter I skills and competencies
There are 8 hard skills for Underwriter I, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriter I.
7 soft skills for Underwriter I, Standard Operating Procedures (SOP), Critical Thinking, Attention to Detail, etc.
While the list totals 15 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Underwriter I, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Critical Thinking, and be proficient in Attention to Detail.
0 general skills for Underwriter I.
7 soft skills for Underwriter I, Standard Operating Procedures (SOP), Critical Thinking, Attention to Detail, etc.
While the list totals 15 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Underwriter I, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Critical Thinking, and be proficient in Attention to Detail.
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