Skills & Competencies for Underwriter (Life) I

Underwriter (Life) I job profile

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JOB SUMMARY for Underwriter (Life) I

Reviews medical, occupational, financial, and legal information to select or reject individual or group life insurance applications.

JOB RESPONSIBILITIES for Underwriter (Life) I

Calculates rates and premiums from approved decrement tables. May have contact with the field force for information on which to base decisions.

Underwriter (Life) I SALARY RANGE

BASE 50%
$55,876
TOTAL 50%
$57,941
Job Level
P01
Job Code
FA06000045
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

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

1 Industry Competency – Insurance Industry
Proficiency Level -1
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)
Names the commonly used tools and techniques for insurance planning and risk management.
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Level 2 Behaviors
(Light Experience)
Reports any discrepancies encountered in reviewing policy records and documentation.
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Level 3 Behaviors
(Moderate Experience)
Works with insurance agents and team members to update and process insurance policies.
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Level 4 Behaviors
(Extensive Experience)
Recommends alternative insurance claims processing methods to minimize operational costs.
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Level 5 Behaviors
(Mastery)
Stays abreast of the changes in insurance industry laws to ensure our product and service adherence.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -1
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 (Life) I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter (Life) I
Proficiency Level - 4
5 Competency for - Underwriter (Life) I
Proficiency Level - 5

9 soft skills or competencies (core competencies) for Underwriter (Life) I

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -1
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 – Risk Management
Proficiency Level -2
Skill definition-The identification, evaluation, and prioritization of various risks, followed by controlling practices to minimize any adverse impact.
Level 1 Behaviors
(General Familiarity)
Obtains internal and external educational resources on risk management.
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Level 2 Behaviors
(Light Experience)
Logs and updates data in the risk information management system.
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Level 3 Behaviors
(Moderate Experience)
Researches and suggests enhancements of risk management tools to improve efficiency.
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Level 4 Behaviors
(Extensive Experience)
Monitors the implementation of risk policies and programs to ensure consistency.
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Level 5 Behaviors
(Mastery)
Keeps abreast of market trends and their effect on internal risk management.
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3 Underwriter (Life) I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter (Life) I
Proficiency Level - 4
5 Competency for - Underwriter (Life) I
Proficiency Level - 5

Summary of Underwriter (Life) I skills and competencies

There are 10 hard skills for Underwriter (Life) I, Insurance Industry, Insurance Legal and Regulatory Environment, Personal Insurance, etc.
0 general skills for Underwriter (Life) I.
9 soft skills for Underwriter (Life) I, Standard Operating Procedures (SOP), Risk Management, Critical Thinking, etc.
While the list totals 19 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 (Life) I, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Risk Management, and be proficient in Critical Thinking.

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