Underwriter Jobs | Main Section
Underwriter Jobs in Australia
What does an Underwriter do?
What skills does an Underwriter need to have?
Underwriter job responsibilities
- Analyse, evaluate, and determine the risk on insurance applications
- Calculate premiums based on findings and background information as per lending criteria
- Provide a risk assessment report outlining the premium amount and any policy alterations required to mitigate risk
- Input background information into computer software and analyse statistical data
- Decide on policy renewals and any prospective changes to terms and conditions
- Compare different policies with similar risk factors involved
- Liaise with other specialists to make an accurate and informed decision on an application
- Negotiate terms and conditions with brokers and clients
Skills and experience employers are looking for
- Analytical and critical thinker
- Great attention to detail
- Strong communication and negotiation skills
- Advanced mathematical and numeracy skills
- Excellent understanding of insurance products and policies
What type of employers hire an Underwriter?
- Relevant ANZIIF qualifications or licenced underwriting experience
- Tier 1 Qualified
- A minimum of three year’s experience in Underwriting is a common requirement
- Software knowledge such as Sunrise System
How much does an Underwriter earn?
How to become an Underwriter in Australia
- Bachelor’s Degree in finance or business-related area.
- Relevant ANZIIF qualifications or licenced underwriting experience.
- Tier 1 Qualified.
- Industry experience is almost mandatory with many employers requesting at least three year’s Underwriting experience.
- Work on your core skills, especially those relating to communication and negotiation. These are considered essential when dealing with relevant parties.
- Knowledge of Sunrise System would be advantageous.
- Extensive knowledge of insurance products along with policies and their components.
- Proficiency in basic computer software such as Microsoft Office.