Skills & Competencies for Life Underwriting Supervisor

Life Underwriting Supervisor job profile

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JOB SUMMARY for Life Underwriting Supervisor

Supervises group of underwriters who review, analyze and inspect life insurance contracts.

JOB RESPONSIBILITIES for Life Underwriting Supervisor

Accepts, modifies or declines a risk through evaluation of an individual's medical history or physical condition, occupational hazards, financial background, insurable interest and other information. Analyzes various rate plans utilizing the organization's claims history to determine the appropriate rate plan and benefits costs. Familiar with current legislative and compliance processes affecting life insurance. May evaluate reinstatements and changes in existing policies. May have designations or course work toward the CLU, FLMI, etc. Has a sound working knowledge of medical terminology.

Life Underwriting Supervisor SALARY RANGE

BASE 50%
$116,736
TOTAL 50%
$128,044
Job Level
M00
Job Code
FA06000861
Education/Degree
Bachelor's Degree
Reports To
Manager or Head of a Unit/Department

Life Underwriting Supervisor Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Life Underwriting Supervisor skill and competencie below to view definitions.
INDUSTRY COMPETENCIES CORE COMPETENCIES
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10 hard skills or competencies (industry competencies) for Life Underwriting Supervisor

1 Industry Competency – Insurance Industry
Proficiency Level -2
Skill definition-Applying knowledge of the insurance industry to provide risk management services and protection to various individuals from financial loss.
Level 1 Behaviors
(General Familiarity)
Describes the processes and rate standards for calculating the amount for insurance claims.
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Level 2 Behaviors
(Light Experience)
Gathers clients' financial information for the preparation of insurance contracts.
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Level 3 Behaviors
(Moderate Experience)
Performs thorough investigation and analysis of insurance claims to prevent fraudulent activities.
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Level 4 Behaviors
(Extensive Experience)
Leads the digitization and automation of insurance-related services to drive business transformation.
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Level 5 Behaviors
(Mastery)
Develops loss control practices to reduce financial exposure and risks in insurance operations.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -2
Skill definition-Creating, executing, and adhering to state and federal laws governing insurance operations to ensure financial security and consumer protection.
Level 1 Behaviors
(General Familiarity)
Describes the importance of compliance programs in maintaining an insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
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Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
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Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
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Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
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3 Life Underwriting Supervisor - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Life Underwriting Supervisor
Proficiency Level - 4
5 Competency for - Life Underwriting Supervisor
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Life Underwriting Supervisor

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -2
Skill definition-A set of written instructions that describes the step-by-step activities to complete tasks in compliance with business standards and industry regulations.
Level 1 Behaviors
(General Familiarity)
Discusses the considerations and concerns on applying SOP for the first time.
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Level 2 Behaviors
(Light Experience)
Documents the SOP drafts and outlines for final approval.
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Level 3 Behaviors
(Moderate Experience)
Initiates SOP revisions to support continuous improvement of processes.
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Level 4 Behaviors
(Extensive Experience)
Evaluates the benefits and drawbacks of a specific SOP; oversees the corresponding enhancements.
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Level 5 Behaviors
(Mastery)
Establishes formal policies and procedures to guide the our SOP practices.
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2 Core Competencies – Risk Management
Proficiency Level -2
Skill definition-The identification, evaluation, and prioritization of various risks, followed by controlling practices to minimize any adverse impact.
Level 1 Behaviors
(General Familiarity)
Lists the common types of risks in a business environment.
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Level 2 Behaviors
(Light Experience)
Conducts regular risk reviews of our business value streams and reports results to management.
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Level 3 Behaviors
(Moderate Experience)
Partners with risk owners to drive risk mitigation by highlighting areas in need of remediation.
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Level 4 Behaviors
(Extensive Experience)
Evaluates the performance of the current risk management framework; suggests enhancements and alternative solutions.
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Level 5 Behaviors
(Mastery)
Establishes policies, procedures, and best practices to guide the risk management activities.
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3 Life Underwriting Supervisor - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Life Underwriting Supervisor
Proficiency Level - 4
5 Competency for - Life Underwriting Supervisor
Proficiency Level - 5

Summary of Life Underwriting Supervisor skills and competencies

There are 10 hard skills for Life Underwriting Supervisor, Insurance Industry, Insurance Legal and Regulatory Environment, Personal Insurance, etc.
0 general skills for Life Underwriting Supervisor.
10 soft skills for Life Underwriting Supervisor, Standard Operating Procedures (SOP), Risk Management, Planning and Organizing, etc.
While the list totals 20 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 Life Underwriting Supervisor, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Risk Management, and be proficient in Planning and Organizing.

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