Skills & Competencies for Underwriter II

Underwriter II job profile

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JOB SUMMARY for Underwriter II

Reviews and analyzes risk characteristics on insurance applications, renewals, and change requests.

JOB RESPONSIBILITIES for Underwriter II

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 II SALARY RANGE

BASE 50%
$73,027
TOTAL 50%
$76,577
Job Level
P02
Job Code
FA06000311
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Underwriter II 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 Underwriter II skill and competencie below to view definitions.
INDUSTRY COMPETENCIES CORE COMPETENCIES
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8 hard skills or competencies (industry competencies) for Underwriter II

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)
Identifies the key legislation and regulations governing insurance contracts.
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Level 2 Behaviors
(Light Experience)
Records and maintains insurance policy and claims information in a database system.
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Level 3 Behaviors
(Moderate Experience)
Verifies received insurance coverage and damage reports to ensure accurate processing of claims.
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Level 4 Behaviors
(Extensive Experience)
Provides technical guidance to staff on claim investigation to ensure accurate insurance claims processing.
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Level 5 Behaviors
(Mastery)
Pursues creative initiatives that may differentiate our business and give us a competitive advantage.
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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)
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 II - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter II
Proficiency Level - 4
5 Competency for - Underwriter II
Proficiency Level - 5

8 soft skills or competencies (core competencies) for Underwriter II

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)
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
Skill definition-Questioning, analyzing and evaluating various alternatives and situations to draw a rational conclusion independently.
Level 1 Behaviors
(General Familiarity)
Discusses the potential impact of failing to analyze situations critically.
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Level 2 Behaviors
(Light Experience)
Analyzes the strengths and weaknesses of various points of view and arguments.
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Level 3 Behaviors
(Moderate Experience)
Synthesizes relevant data to formulate conclusions and arguments.
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Level 4 Behaviors
(Extensive Experience)
Conducts training courses to improve critical thinking skills.
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Level 5 Behaviors
(Mastery)
Creates effective methods of critical thinking throughout our business.
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3 Underwriter II - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter II
Proficiency Level - 4
5 Competency for - Underwriter II
Proficiency Level - 5

Summary of Underwriter II skills and competencies

There are 8 hard skills for Underwriter II, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriter II.
8 soft skills for Underwriter II, Standard Operating Procedures (SOP), Critical Thinking, Attention to Detail, etc.
While the list totals 16 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 II, 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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