Skills & Competencies for Underwriter IV

Underwriter IV job profile

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JOB SUMMARY for Underwriter IV

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

JOB RESPONSIBILITIES for Underwriter IV

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 IV SALARY RANGE

BASE 50%
$115,656
TOTAL 50%
$128,025
Job Level
P04
Job Code
FA06001037
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

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

1 Industry Competency – Insurance Industry
Proficiency Level -3
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)
Utilizes various tools and technologies to optimize insurance claims turnaround cycles.
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Level 4 Behaviors
(Extensive Experience)
Provides recommendations for improving methods and procedures to enhance insurance claims handling.
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Level 5 Behaviors
(Mastery)
Leads the deployment of strategic approaches to address complex insurance risk management programs.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -3
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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3 Underwriter IV - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter IV
Proficiency Level - 4
5 Competency for - Underwriter IV
Proficiency Level - 5

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

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -3
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)
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 -4
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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3 Underwriter IV - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter IV
Proficiency Level - 4
5 Competency for - Underwriter IV
Proficiency Level - 5

Summary of Underwriter IV skills and competencies

There are 8 hard skills for Underwriter IV, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriter IV.
8 soft skills for Underwriter IV, 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 IV, he or she needs to be skilled in Standard Operating Procedures (SOP), be skilled in Critical Thinking, and be skilled in Attention to Detail.

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