Skills & Competencies for Underwriter (Life) I

Underwriter (Life) I job profile

Book a Demo and Receive a Sample Job Profile

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
BOOK A DEMO

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)
Defines the key terminologies and components of an insurance policy.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Enters new information about insurance premiums and payments to update insurance policy records.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Examines insurance applications and letters from clients to determine necessary policy changes.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Evaluates existing claims handling process to identify fraud and opportunities for optimization of outcomes.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of AI and automation technologies to streamline insurance operations.
See 4 More Skill Behaviors
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)
Cites examples of the legal principles of insurance applicable to multiple types of insurance products.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
See 4 More Skill Behaviors
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)
Cites examples of SOP practices in our business operations.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in the preparation of internal standard operating procedures (SOP).
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Ensures internal SOPs are in compliance with industry standards and regulations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Develops and delivers training programs to ensure our SOPs are fully communicated and adhered to.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of SOP to foster efficiency and consistency.
See 4 More Skill Behaviors
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)
Discusses the difficulties and challenges in risk management.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in assessing, selecting, and implementing risk management tools.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Escalates significant risks to the appropriate management to address issues.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Creates and updates standard operating procedures (SOP) to improve risk management efficiency and effectiveness.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Constructs risk management metrics to monitor, evaluate, and improve effectiveness.
See 4 More Skill Behaviors
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.

It's Easy to Get Started

Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.