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Summary Report for:
13-2053.00 - Insurance Underwriters

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Sample of reported job titles: Underwriter, Account Underwriter, Customer Service Representative, Personal Lines Underwriter, Underwriting Director, Health Underwriter, Life Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Commercial Underwriter

View report: Summary  Details  Custom

Tasks  |  Tools & Technology  |  Knowledge  |  Skills  |  Abilities  |  Work Activities  |  Work Context  |  Job Zone  |  Education  |  Credentials  |  Interests  |  Work Styles  |  Work Values  |  Related Occupations  |  Wages & Employment  |  Job Openings  |  Additional Information

Tasks

  • Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe profitable distribution of risks, using reference materials.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  • Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
  • Authorize reinsurance of policy when risk is high.
  • Evaluate possibility of losses due to catastrophe or excessive insurance.

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Tools & Technology

Tools used in this occupation:

Desktop calculator — 10-key calculators
Desktop computers
Notebook computers — Laptop computers
Personal computers

Technology used in this occupation:

Document management software — FileNet Content Manager
Enterprise resource planning ERP software — Anodas Software Limited Phoenix; Consilience Software Maven Insurance Automation Suite; SIS SEMCI PARTNER; Skywire Software InsBridge
Financial analysis software — Fiserv Advanced Underwriting; LabOne NET; RGA Facultative Application Console; Valen Technologies Risk Manager
Internet browser software — Web browser software
Spreadsheet software — Microsoft Excel
Word processing software — Microsoft Word

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Knowledge

Medicine and Dentistry — Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Education and Training — Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

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Skills

Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Speaking — Talking to others to convey information effectively.
Writing — Communicating effectively in writing as appropriate for the needs of the audience.
Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Time Management — Managing one's own time and the time of others.
Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.

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Abilities

Written Comprehension — The ability to read and understand information and ideas presented in writing.
Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
Written Expression — The ability to communicate information and ideas in writing so others will understand.
Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
Speech Clarity — The ability to speak clearly so others can understand you.
Near Vision — The ability to see details at close range (within a few feet of the observer).
Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Speech Recognition — The ability to identify and understand the speech of another person.

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Work Activities

Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

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Work Context

Electronic Mail — How often do you use electronic mail in this job?
Telephone — How often do you have telephone conversations in this job?
Spend Time Sitting — How much does this job require sitting?
Frequency of Decision Making — How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?
Freedom to Make Decisions — How much decision making freedom, without supervision, does the job offer?
Letters and Memos — How often does the job require written letters and memos?
Impact of Decisions on Co-workers or Company Results — How do the decisions an employee makes impact the results of co-workers, clients or the company?
Importance of Being Exact or Accurate — How important is being very exact or highly accurate in performing this job?
Face-to-Face Discussions — How often do you have to have face-to-face discussions with individuals or teams in this job?
Time Pressure — How often does this job require the worker to meet strict deadlines?

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Job Zone

Title Job Zone Four: Considerable Preparation Needed
Education Most of these occupations require a four-year bachelor's degree, but some do not.
Related Experience A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents.
SVP Range (7.0 to < 8.0)

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Education


Percentage of Respondents
Education Level Required
81   Bachelor's degree
12   Associate's degree
  High school diploma or equivalent Help

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Credentials

Find Training Find Certifications Find Licenses

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Interests

Interest code: CEI

Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.

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Work Styles

Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
Integrity — Job requires being honest and ethical.
Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Initiative — Job requires a willingness to take on responsibilities and challenges.

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Work Values

Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

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Related Occupations

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13-2031.00 Budget Analysts
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15-2041.02 Clinical Data Managers Bright Outlook

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Wages & Employment Trends

Median wages (2013) $30.66 hourly, $63,780 annual
State wages Local Salary Info
 
Employment (2012) 106,000 employees
Projected growth (2012-2022) Decline (-3% or lower) Decline (-3% or lower)
Projected job openings (2012-2022) 28,900
State trends Employment Trends
 
Top industries (2012)

Source: Bureau of Labor Statistics 2013 wage data external site and 2012-2022 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2012-2022). "Projected job openings" represent openings due to growth and replacement.

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Job Openings on the Web

Find Jobs Job Banks

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Sources of Additional Information

Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.

  • Insurance Underwriters external site. Bureau of Labor Statistics, U.S. Department of Labor. Occupational Outlook Handbook, 2014-15 Edition.

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