Skills & Competencies for Underwriting Manager

Underwriting Manager job profile

JOB SUMMARY for Underwriting Manager

Manages daily operations of the underwriting process.

JOB RESPONSIBILITIES for Underwriting Manager

Implements underwriting strategy and operational policies for product lines. Oversees the review and approval process for decisions and recommendations related to complex cases. Defines and establishes procedures for risk criteria, application and renewal, and acceptance and rejection. Develops underwriting team expertise with coaching, support and educational programs.

Underwriting Manager SALARY RANGE

BASE 50%
$131,631
TOTAL 50%
$150,122
Job Level
M02
Job Code
FA06000469
Education/Degree
Bachelor's Degree
Reports To
Senior Manager

Underwriting Manager 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 Underwriting Manager skill and competencie below to view definitions.

8 hard skills or competencies (industry competencies) for Underwriting Manager

1 Industry Competency – Insurance Industry
Proficiency Level -3
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)
Identifies the key legislation and regulations governing insurance contracts.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Records and maintains insurance policy and claims information in a database system.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Verifies received insurance coverage and damage reports to ensure accurate processing of claims.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Provides technical guidance to staff on claim investigation to ensure accurate insurance claims processing.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Pursues creative initiatives that may differentiate our business and give us a competitive advantage.
See 4 More Skill Behaviors
2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -3
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.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Supports the execution of a legal and regulatory framework to promote strict insurance compliance.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Performs compliance reviews to determine possible violations and deficiencies in insurance regulations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Trains teams on new laws and regulations to reduce liability risks and compliance violations.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Establishes best practices in creating insurance laws and regulations to prevent frauds and malpractices.
See 4 More Skill Behaviors
3 Underwriting Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Manager
Proficiency Level - 4
5 Competency for - Underwriting Manager
Proficiency Level - 5

13 soft skills or competencies (core competencies) for Underwriting Manager

1 Core Competencies – Business Process Improvement
Proficiency Level -3
Skill definition-Proactively defining, analyzing, and streamlining existing business processes within an organization to meet new quotas or standards of quality.
Level 1 Behaviors
(General Familiarity)
Names various methods used to practice business process improvement.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Suggests changes to the existing processes and structure in our business.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Recommends the business process management system that meets our business needs.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Reassigns and retrains staff as needed in preparation for revised business processes.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Restructures ways to align business processes with organizational goals.
See 4 More Skill Behaviors
2 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -3
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)
Lists the typical processes of SOP development.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Supports the analysis of our business and operations processes for SOP design and development.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Modifies SOPs accordingly to reflect changes in our business practices and policies.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Optimizes the current SOP development and implementation processes.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Leads cross-functional efforts to develop and implement SOPs across our organization.
See 4 More Skill Behaviors
3 Underwriting Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Manager
Proficiency Level - 4
5 Competency for - Underwriting Manager
Proficiency Level - 5

Summary of Underwriting Manager skills and competencies

There are 8 hard skills for Underwriting Manager, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriting Manager.
13 soft skills for Underwriting Manager, Business Process Improvement, Standard Operating Procedures (SOP), Budgeting, etc.
While the list totals 21 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 Underwriting Manager, he or she needs to be skilled in Business Process Improvement, be skilled in Standard Operating Procedures (SOP), and be proficient in Budgeting.

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.