10 hard skills or competencies (industry competencies) for Underwriter (Life) II
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)
Describes the current systems and scope of services provided by insurance organizations.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Follows industry best practices when preparing reports that detail risk assessment findings in insurance claims.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Identifies cost-effective solutions to address regulatory compliance challenges in insurance services.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Facilitates discussions with agents and underwriters on evolving exposures and risk management practices.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Designs and executes innovative strategies and techniques to optimize the claims-handling process.
See 4 More Skill Behaviors
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)
Describes the basic structure of insurance legal and regulatory environment.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Complies with insurance legal and regulatory principles to safeguard the rights and interests of the insured.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Analyzes existing legal and regulatory standards to address errors affecting insurance policies.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Improves legal procedures for licensing intermediaries or producers to prevent penalties.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Designs compliance strategies and programs to prevent violations of statutes, regulations, and policies.
See 4 More Skill Behaviors
10 soft skills or competencies (core competencies) for Underwriter (Life) II
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Gathers information on workflows and business controlling points.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Maintains the accuracy of SOPs to provide consistent guidance in our workplace.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Leverages the use of SOPs to solve business and operation problems.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Keeps abreast of industry regulation and its effect on our internal SOPs.
See 4 More Skill Behaviors
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Generates the period risk status report from the system and distributes it to stakeholders.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Recommends methods to control or reduce risks based on assessment results.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Leads root cause analysis of risk events to establish an effective feedback process.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Forecasts changes in industry regulations and laws to control and minimize regulatory risk.
See 4 More Skill Behaviors
Summary of Underwriter (Life) II skills and competencies
There are 10 hard skills for Underwriter (Life) II, Insurance Industry, Insurance Legal and Regulatory Environment, Personal Insurance, etc.
0 general skills for Underwriter (Life) II.
10 soft skills for Underwriter (Life) II, Standard Operating Procedures (SOP), Risk Management, Critical Thinking, etc.
While the list totals 20 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) II, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Risk Management, and be proficient in Critical Thinking.