Insurance companies offer individuals and organizations financial loss protection from a variety of different risk exposures such as illnesses, property damage and vehicle accidents such as auto, truck, boat and motorcycle. An underwriter is an important position in any insurance company where they make decisions if a specific person should be granted a policy and determine the set of terms under which it will be granted.
About Sample Underwriter Resumes
There are many different types of insurance policies available on the market today. However, underwriters usually specialize in one of four different areas that include property and casualty, mortgage, health and life insurance. Additionally, underwriters concentrating on life and health insurance might also specialize in examining individual policies or handle group issues. Therefore, when an underwriter is looking to compile a resume in order to search for a new job, they should look at a variety of different sample underwriter resumes online and select one that is best suited to the position. Performing a little research will help a professional underwriter understand the important elements that go into creating an effective resume.
How To Write An Underwriter Resume
Hiring managers at insurance companies are going to concentrate their resume examination by looking for an applicant’s specific abilities, talents and skills that will differentiate them from others. Although education and experience are important components when putting together a professional underwriters resume, an individual’s ability to effectively perform critical evaluations that are both statistical and analytical, needs to be presented. It is important to display an applicant’s knowledge about different insurance plans as well as any state and federal regulations that directly impact these.
After an applicant’s knowledge and skill, the next most important component on the resume should be relevant work experience. Highlighting your successful employment experience will go a long way toward helping you stand out from the crowd when applying for a specific opportunity. Always make sure to be concise and to the point when listing your specific job duties at your present and past employment.
Underwriter Job Description
An underwriter is tasked with the chore for calculating a company’s level of loss risk from a particular policyholder based on a number of different factors. Typically an underwriter uses sophisticated computer technology to analyze information provided on applications by a prospective policyholder. Underwriters consider such factors as occupation, age, health history, lifestyle and other personal attributes when considering life insurance risks.
Factors that are taken into consideration when assessing risk loss for property damage include the type of construction, age, property safeguards and exposure to natural disasters such as hurricanes, floods or earthquakes. Auto policies are determined by a policyholders driver history, the make and model of the car, as well as the year it was manufactured along with where, when and how far the car will be driven within a given period of time. The underwriter will take all these factors into consideration when determining the terms of the policy as well as the cost, which the policyholder must pay for the protection.
Entry-level insurance underwriters can expect a salary of approximately $35,000 per year. At the far end, experienced insurance underwriters supervising a department of subordinate underwriters can make more than $100,000 per year. On a side note, the job outlook for underwriters looks promising as more and more insurance companies and policies develop each year.
For those interested in becoming an underwriter, it is vitally important to take the time and research to put together an effective resume. This will help an applicant to make a great first impression and get a shot at an interview.