The essential function of a insurance underwriters for commercial properties is to determine risk factors and then write and present policies to agencies, using critical thinking skills to improve client retention. Generally, the underwriter holds a full-time position that requires a bachelor's degree in a relevant field. They need excellent knowledge of relevant laws and statutes pertaining to the insurance offerings. Many companies have a set of standards in place related to underwriting that must be strictly followed. For this reason, insurance underwriters for commercial properties must be detail-oriented and need to document all information and processes.
Insurance Underwriter, Commercial Property Tasks
Manage underwriting territory and select new business based on analysis of their profitability.
Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
Underwrite, submit, approve or pend loans, and present decisions to management.
Monitor existing policies for compliance with company guidelines.