Oversees activities of the underwriting department.
Provides supervision for a group of underwriters who review, analyze, and inspect insurance risk. Ensures compliance with all industry and governmental regulations. Follows established procedures regarding risk management, application and renewal, and acceptance and rejection. Develops underwriting team expertise with coaching, support and educational programs.
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 Supervisor skill and competencie below to view definitions.
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.
Level 2 Behaviors
(Light Experience)
Enters new information about insurance premiums and payments to update insurance policy records.
Level 3 Behaviors
(Moderate Experience)
Examines insurance applications and letters from clients to determine necessary policy changes.
Level 4 Behaviors
(Extensive Experience)
Evaluates existing claims handling process to identify fraud and opportunities for optimization of outcomes.
Level 5 Behaviors
(Mastery)
Champions the adoption of AI and automation technologies to streamline insurance operations.
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.
Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
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)
Cites basic business process improvement techniques and processes.
Level 2 Behaviors
(Light Experience)
Assists in preparing flow charts to visualize each step in the new workflow.
Level 3 Behaviors
(Moderate Experience)
Consults in the identification and resolution of process issues.
Level 4 Behaviors
(Extensive Experience)
Deploys cost-effective and time-efficient solutions to business process issues.
Level 5 Behaviors
(Mastery)
Designs various tools to be used for the business process improvement efforts.
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.
Level 2 Behaviors
(Light Experience)
Compiles and maintains SOPs under our current policies and directions.
Level 3 Behaviors
(Moderate Experience)
Ensures internal SOPs are in compliance with industry standards and regulations.
Level 4 Behaviors
(Extensive Experience)
Develops and delivers training programs to ensure our SOPs are fully communicated and adhered to.
Level 5 Behaviors
(Mastery)
Champions the adoption of SOP to foster efficiency and consistency.
There are 8 hard skills for Underwriting Supervisor, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriting Supervisor.
11 soft skills for Underwriting Supervisor, Business Process Improvement, Standard Operating Procedures (SOP), Risk Management, 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 an Underwriting Supervisor, he or she needs to be skilled in Business Process Improvement, be proficient in Standard Operating Procedures (SOP), and be skilled in Risk Management.
