COMMERCIAL UNDERWRITER SKILLS, EXPERIENCE, AND JOB REQUIREMENTS
Published: July 30, 2024 - The Commercial Underwriter plays a crucial role in evaluating and analyzing insurance applications, ensuring adherence to underwriting guidelines. Proficiency in risk assessment, policy contracts, and rating programs is essential for accurate decision-making and maintaining company standards. Effective time management and the ability to engage with stakeholders across various levels are key to succeeding in this dynamic role within the property and casualty industry.
Essential Hard and Soft Skills for a Standout Commercial Underwriter Resume
- Risk Assessment
- Policy Analysis
- Financial Analysis
- Data Interpretation
- Compliance Knowledge
- Technical Writing
- Industry Software Proficiency
- Actuarial Analysis
- Microsoft Office
- Claims Handling
- Attention to Detail
- Analytical Thinking
- Communication Skills
- Problem-Solving
- Time Management
- Negotiation Skills
- Decision-Making
- Customer Service
- Adaptability
- Team Collaboration
Summary of Commercial Underwriter Knowledge and Qualifications on Resume
1. BA in Business Management with 4 years of Experience
- Proven knowledge of coverage and pricing for commercial risks along with all other builders risk products and/or proven knowledge of property and casualty underwriting.
- Knowledge of insurance underwriting procedures and regulations for assigned territories.
- Strong knowledge of processing methods and workflow procedures.
- Ability to build relationships with distributors and business partners.
- Proven knowledge of accepted business software such as RMS, mainframe systems and Internet usage.
- Completion of insurance industry specific courses (IIA, CISR, CIC and/or CPCU) and/or designations.
- US Assure level 3A underwriting authority.
- Proven experience with mentoring employees.
2. BA in Commercial Law with 5 years of Experience
- Underwriting knowledge and ability
- Understanding of the use of binder guidelines and authorities, and underwriting process and standards
- A working knowledge of legal and regulatory Insurance framework
- A high level of specialist market and product knowledge
- Clear and effective communicator
- Highly organized with a focus on objectives, priorities and deliverables
- Strong analytical and decision making ability
- Strong attention to detail
- An openness to and ability to adapt to reasonable business changes
- Positive and effective identification and recognition of business and customer needs
- A high level of commitment and focus
- Demonstrable ability to meet deadlines and organize personal workloads
3. BA in Business Administration with 10 years of Experience
- Commercial lines underwriting experience within a carrier environment.
- Experience in Auto, GL, and WC underwriting.
- Experience with middle to large accounts (500K to $3M) with large deductible accounts is a must.
- Experience in a financial service environment
- Experience underwriting with enterprise loans ($250,000 +)
- Proficient skills in Microsoft Office (Word, Excel, Power BI, etc.)
- Strong and effective communication skills via phone and email
- Work in an environment of very tight deadlines and strict requirements for accuracy
- Experience with MS Dynamics
- Training in basic accounting
4. BA in Marketing with 3 years of Experience
- A sound base of insurance experience.
- Engage and influence across different stakeholders at all levels.
- Ability to analyze and problem-solve where required
- Excellent time management skills and the ability to work to deadlines
- Experience in the property and casualty industry
- Working knowledge of company underwriting philosophy, policy contracts, rating programs
- Working knowledge of risk information sources, underwriting/technical manual information, statuary constraints, and computer workflow procedures.
- Ability to work within and adapt to PC oriented environments, including familiarity with e-mail and Internet skills.
- Working knowledge of Microsoft Office.