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%
$61,179
TOTAL 50%
$63,480
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Reports any discrepancies encountered in reviewing policy records and documentation.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Works with insurance agents and team members to update and process insurance policies.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Recommends alternative insurance claims processing methods to minimize operational costs.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Stays abreast of the changes in insurance industry laws to ensure our product and service adherence.
See 4 More Skill Behaviors
2
Industry Competency –
Insurance Legal and Regulatory Environment
Proficiency Level -1
Level 1 Behaviors
(General Familiarity)
Describes the basic structure of insurance legal and regulatory environment.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Complies with insurance legal and regulatory principles to safeguard the rights and interests of the insured.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Analyzes existing legal and regulatory standards to address errors affecting insurance policies.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Improves legal procedures for licensing intermediaries or producers to prevent penalties.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Designs compliance strategies and programs to prevent violations of statutes, regulations, and policies.
See 4 More Skill Behaviors
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)
Describes the purposes and benefits of Standard Operating Procedures (SOP).
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Compiles and maintains SOPs under our current policies and directions.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Ensures internal SOPs are in compliance with industry standards and regulations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Develops and delivers training programs to ensure our SOPs are fully communicated and adhered to.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of SOP to foster efficiency and consistency.
See 4 More Skill Behaviors
2
Core Competencies –
Critical Thinking
Proficiency Level -2
Level 1 Behaviors
(General Familiarity)
Discusses the potential impact of failing to analyze situations critically.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Analyzes the strengths and weaknesses of various points of view and arguments.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Synthesizes relevant data to formulate conclusions and arguments.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Conducts training courses to improve critical thinking skills.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Creates effective methods of critical thinking throughout our business.
See 4 More Skill Behaviors
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.
It's Easy to Get Started
Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.