Skills & Competencies for Underwriter (P/C) III

Underwriter (P/C) III job profile

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JOB SUMMARY for Underwriter (P/C) III

Analyzes and reviews inspection reports, location, risk, credit reports, etc. to accept or reject renewal/new property and casualty policy applications.

JOB RESPONSIBILITIES for Underwriter (P/C) III

Decides on appropriate premium rates and issues coverage. Provides customer services regarding underwriting processes and decisions. May communicate with field agents to gather additional information or to explain underwriting decisions.

Underwriter (P/C) III SALARY RANGE

BASE 50%
$94,834
TOTAL 50%
$101,160
Job Level
P03
Job Code
FA06000044
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Underwriter (P/C) III 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 (P/C) III skill and competencie below to view definitions.
INDUSTRY COMPETENCIES CORE COMPETENCIES
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10 hard skills or competencies (industry competencies) for Underwriter (P/C) III

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 the policy conditions of various insurance contracts and products.
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Level 2 Behaviors
(Light Experience)
Compiles insurance quotes based on customer information and rates for insurance policies.
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Level 3 Behaviors
(Moderate Experience)
Applies risk management techniques to minimize financial impacts in insurance services.
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Level 4 Behaviors
(Extensive Experience)
Contributes to the development of insurance risk mitigation strategies to drive process improvements.
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Level 5 Behaviors
(Mastery)
Builds claim roadmaps and substantiation plans in compliance with insurance risk management practices.
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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)
Cites examples of the legal principles of insurance applicable to multiple types of insurance products.
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Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
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Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
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Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
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Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
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3 Underwriter (P/C) III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter (P/C) III
Proficiency Level - 4
5 Competency for - Underwriter (P/C) III
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Underwriter (P/C) III

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)
Cites examples of SOP practices in our business operations.
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Level 2 Behaviors
(Light Experience)
Assists in the preparation of internal standard operating procedures (SOP).
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Level 3 Behaviors
(Moderate Experience)
Analyses our business and operations to identify room for improvement on the related standard operating procedures.
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Level 4 Behaviors
(Extensive Experience)
Coaches others on the implementation of SOP to reduce errors and improve quality.
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Level 5 Behaviors
(Mastery)
Builds a monitoring system to evaluate the effectiveness of our SOPs.
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2 Core Competencies – Risk Management
Proficiency Level -3
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.
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Level 2 Behaviors
(Light Experience)
Assists in assessing, selecting, and implementing risk management tools.
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Level 3 Behaviors
(Moderate Experience)
Ensures timely communication of critical risks and proposed response plans with all levels of stakeholders.
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Level 4 Behaviors
(Extensive Experience)
Consults on the integration of risk management with business and operation practices.
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Level 5 Behaviors
(Mastery)
Champions the adoption of the latest risk management tools and technologies to optimize efficiency while controlling cost.
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3 Underwriter (P/C) III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriter (P/C) III
Proficiency Level - 4
5 Competency for - Underwriter (P/C) III
Proficiency Level - 5

Summary of Underwriter (P/C) III skills and competencies

There are 10 hard skills for Underwriter (P/C) III, Insurance Industry, Insurance Legal and Regulatory Environment, Commercial Insurance, etc.
0 general skills for Underwriter (P/C) III.
10 soft skills for Underwriter (P/C) III, 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 (P/C) III, he or she needs to be proficient in Standard Operating Procedures (SOP), be skilled in Risk Management, and be skilled in Critical Thinking.

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