8 hard skills or competencies (industry competencies) for Underwriter I
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)
Explains the policy conditions of various insurance contracts and products.
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Level 2 Behaviors
(Light Experience)
Provides prompt responses to clients’ insurance-related questions and concerns.
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Level 3 Behaviors
(Moderate Experience)
Reviews and analyzes claim applications to determine coverage eligibility and rates.
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Level 4 Behaviors
(Extensive Experience)
Monitors market trends in insurance services to deliver improved business impacts.
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Level 5 Behaviors
(Mastery)
Establishes and enforces standards for handling claims to maximize insurance workflow efficiency.
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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)
Discusses the importance of insurance regulations in protecting clients' financial security and assets.
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Level 2 Behaviors
(Light Experience)
Gathers and interprets policy contracts to understand insurance legal and regulatory standards.
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Level 3 Behaviors
(Moderate Experience)
Maintains financial and market regulation to validate insurance's accounting methods and procedures.
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Level 4 Behaviors
(Extensive Experience)
Sets guidelines to promote fairness and transparency in financial markets in providing insurance products.
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Level 5 Behaviors
(Mastery)
Develops compliance and risk management standards to manage overall insurance legal and regulatory environment.
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7 soft skills or competencies (core competencies) for Underwriter I
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)
Identifies our internal and external sources for the SOPs we need.
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Level 2 Behaviors
(Light Experience)
Participates in the implementation of new SOPs and enhancement of existing ones.
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Level 3 Behaviors
(Moderate Experience)
Maintains the accuracy of SOPs to provide consistent guidance in our workplace.
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Level 4 Behaviors
(Extensive Experience)
Leverages the use of SOPs to solve business and operation problems.
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Level 5 Behaviors
(Mastery)
Keeps abreast of industry regulation and its effect on our internal SOPs.
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Skill definition-Questioning, analyzing and evaluating various alternatives and situations to draw a rational conclusion independently.
Level 1 Behaviors
(General Familiarity)
Identifies the skills and traits needed for 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)
Uses analytical or creative methods to break down complex situations into component problems.
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Level 4 Behaviors
(Extensive Experience)
Leverages critical thinking to build, analyze and evaluate different points of view.
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Level 5 Behaviors
(Mastery)
Leads discussions of alternative options with different parties to make effective decisions.
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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.