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%
$94,331
TOTAL 50%
$100,613
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)
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)
Makes necessary adjustments to insurance policies to meet customer needs.
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Level 4 Behaviors
(Extensive Experience)
Handles complex insurance losses through negotiation of favorable claims settlements with insurance companies.
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Level 5 Behaviors
(Mastery)
Develops and establishes risk reduction best practices to prevent fraudulent claims transactions.
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2
Industry Competency –
Insurance Legal and Regulatory Environment
Proficiency Level -2
Level 1 Behaviors
(General Familiarity)
Describes the basic structure of insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Complies with insurance legal and regulatory principles to safeguard the rights and interests of the insured.
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Level 3 Behaviors
(Moderate Experience)
Analyzes existing legal and regulatory standards to address errors affecting insurance policies.
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Level 4 Behaviors
(Extensive Experience)
Improves legal procedures for licensing intermediaries or producers to prevent penalties.
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Level 5 Behaviors
(Mastery)
Designs compliance strategies and programs to prevent violations of statutes, regulations, and policies.
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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)
Describes the purposes and benefits of Standard Operating Procedures (SOP).
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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)
Implements the use of SOP throughout our business to drive efficiency.
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Level 4 Behaviors
(Extensive Experience)
Enhances the SOP management system to improve efficiency and user experience.
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Level 5 Behaviors
(Mastery)
Designs a Standard Operating Procedure (SOP) strategy to align with our business objectives.
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2
Core Competencies –
Critical Thinking
Proficiency Level -3
Level 1 Behaviors
(General Familiarity)
Discusses the potential impact of failing to analyze situations critically.
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Level 2 Behaviors
(Light Experience)
Applies formal methods and techniques to enhance critical thought.
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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 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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