Skills & Competencies for Underwriter (Life) II

Underwriter (Life) II job profile

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JOB SUMMARY for Underwriter (Life) II

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

JOB RESPONSIBILITIES for Underwriter (Life) II

Calculates rates and premiums from approved decrement tables. Approves or denies applications on own discretion.

Underwriter (Life) II SALARY RANGE

BASE 50%
$71,195
TOTAL 50%
$75,236
Job Level
P02
Job Code
FA06000046
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Underwriter (Life) II 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) II 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) II

1 Industry Competency – Insurance Industry
Proficiency Level -2
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)
Explains how reinsurance aids in meeting the long-term debts and financial obligations of a business.
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Level 2 Behaviors
(Light Experience)
Locates resources to acquire updates regarding market shifts and regulatory changes in insurance.
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Level 3 Behaviors
(Moderate Experience)
Prepares insurance plans based on client needs to minimize financial risk or losses during uncertain events.
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Level 4 Behaviors
(Extensive Experience)
Monitors industry changes to improve the strategic directions of insurance operations.
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Level 5 Behaviors
(Mastery)
Develops strategic methods for selling insurance policies to increase the profit of our organization.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -2
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 importance of compliance programs in maintaining an insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
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Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
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Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
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Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
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3 Underwriter (Life) II - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter (Life) II
Proficiency Level - 4
5 Competency for - Underwriter (Life) II
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Underwriter (Life) II

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -2
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)
Discusses the considerations and concerns on applying SOP for the first time.
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Level 2 Behaviors
(Light Experience)
Gathers information on workflows and business controlling points.
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Level 3 Behaviors
(Moderate Experience)
Maintains the accuracy of SOPs to provide consistent guidance in our workplace.
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Level 4 Behaviors
(Extensive Experience)
Leverages the use of SOPs to solve business and operation problems.
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Level 5 Behaviors
(Mastery)
Keeps abreast of industry regulation and its effect on our internal SOPs.
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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)
Lists the common types of risks in a business environment.
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Level 2 Behaviors
(Light Experience)
Generates the period risk status report from the system and distributes it to stakeholders.
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Level 3 Behaviors
(Moderate Experience)
Recommends methods to control or reduce risks based on assessment results.
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Level 4 Behaviors
(Extensive Experience)
Leads root cause analysis of risk events to establish an effective feedback process.
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Level 5 Behaviors
(Mastery)
Forecasts changes in industry regulations and laws to control and minimize regulatory risk.
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3 Underwriter (Life) II - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter (Life) II
Proficiency Level - 4
5 Competency for - Underwriter (Life) II
Proficiency Level - 5

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.

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