Skills & Competencies for Underwriter III
Underwriter III job profile
Book a Demo and Receive a Sample Job ProfileJOB SUMMARY for Underwriter III
Reviews and analyzes risk characteristics on insurance applications, renewals, and change requests.
JOB RESPONSIBILITIES for Underwriter III
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 III SALARY RANGE
BASE 50%
$94,564
TOTAL 50%
$100,860
Job Level
P03
Job Code
FA06000312
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager
Underwriter III Skills and Competencies List
8 hard skills or competencies (industry competencies) for Underwriter III
1
Industry Competency –
Insurance Industry
Proficiency Level -2
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
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 III
- Skill and Competency
Proficiency Level - 3
4
Skill and Competency -
Underwriter III
Proficiency Level - 4
5
Competency for -
Underwriter III
Proficiency Level - 5
8 soft skills or competencies (core competencies) for Underwriter III
1
Core Competencies –
Standard Operating Procedures (SOP)
Proficiency Level -2
Level 1 Behaviors
(General Familiarity)
Lists the typical processes of SOP development.
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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)
Modifies SOPs accordingly to reflect changes in our business practices and policies.
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Level 4 Behaviors
(Extensive Experience)
Optimizes the current SOP development and implementation processes.
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Level 5 Behaviors
(Mastery)
Leads cross-functional efforts to develop and implement SOPs across our organization.
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2
Core Competencies –
Critical Thinking
Proficiency Level -3
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 III
- Skill and Competency
Proficiency Level - 3
4
Skill and Competency -
Underwriter III
Proficiency Level - 4
5
Competency for -
Underwriter III
Proficiency Level - 5
Summary of Underwriter III skills and competencies
There are 8 hard skills for Underwriter III, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriter III.
8 soft skills for Underwriter III, 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 III, he or she needs to be proficient in Standard Operating Procedures (SOP), be skilled in Critical Thinking, and be skilled in Attention to Detail.
0 general skills for Underwriter III.
8 soft skills for Underwriter III, 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 III, he or she needs to be proficient in Standard Operating Procedures (SOP), be skilled in Critical Thinking, and be skilled in Attention to Detail.
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