Underwriter Interview Questions [With Answers]

Underwriter Interview Questions

Underwriter Interview Questions: Could You Offer Yourself As A Co-signer To Mentor An Inexperienced Underwriter?

Once you have finalized your resume and developed an eye-catching cover letter, you will grab companies’ attention. The only thing left to focus on is the interview process, and being prepared for it can help you land the job of your dreams.

Knowing how to answer underwriter interview questions ensures the employer that you have the relevant skills, behaviors, and understanding of what it takes to work in the field. The better prepared, the better equipped you are to get the position, being that you are the ideal candidate for the company.

Duties Of An Underwriter

  • Examine insurance proposals.
  • Collect background information and assess risk.
  • Analyze statistical data through the use of specialist computer programs.
  • Write quotes and negotiate the terms with relevant brokers and clients.
  • Determine premiums for clients.
  • Decide on the wording of policies to ensure compliance for both company and clients.
  • Prepare the insurance policy terms and conditions.
  • Liaising with insurance brokers and clients.

Companies Who Hire Underwriters

  • Insurance companies
  • Reinsurance companies
  • Brokers
  • Banks

Frequently Asked Underwriter Interview Questions

  1. Have You Ever Worked In Customer Service? 

    • This question is commonly asked. Although it is not required, it is beneficial. The question is important as it indicates to the employer that you know how to assist clients with what they need. Moreover, it shows that you have the skill of directing customers to the right offices or departments to accomplish their business dealings.
      • You will have the opportunity to connect with clients regularly to figure out the type of coverage they require.
      • You will better understand coverage, insurance policies, and how to work within a client’s budget.
      • If you do not have the relevant experience, it is important that you put yourself to gain such experience.
      • It shows that you can treat all customers with respect and remain calm when customers are demanding.

  2. Do You Stay Up To Date On The Current Insurance Laws?

    • Ensure that you answer this question correctly, as it is a great way to highlight your responsibility to the underwriter position.
      • It is of utmost importance to keep up to date with the current insurance laws.
      • This guarantees that employees of a company can adhere to codes. 
      • It confirms that the business or customer in question works within the framework of insurance.
      • A great way to answer this question would be to provide additional ways to monitor any in-law’s changes.
    • If an underwriter does not stay up to date with the laws, their clients can be negatively impacted.
    • The company you work for can be held liable if not seen adhering to the given codes of conduct.
    • Constantly checking up on changes through the use of news and other resources means that you are providing law-abiding work at all times.

  3. How Do You Manage Your Work Load?

    • Answer this question in a way that shows you can assess your projects and look to finalize those that are urgent. It will show the employer you have the ability to self-manage and organize accordingly. Additional information can include that you take care of incoming deadline duties first and then work on accomplishing the specifics of larger projects throughout the days and weeks that follow.
      • Assuring you can manage your time and duties. 
      • Showing small, medium, and large jobs are all completed within the given timeframe.
      • Guaranteeing that there are no mishaps during your employment.
      • Immediate responsibilities will be completed, and you can set yourself up for success when other projects come your way.
      • Having this type of organizational skill indicates that you can work under pressure and complete tasks adequately.
      • Establish the right system which works to keep you on track and express this system to your interviewer.

  4. How Do You Remain Focused On The Job?

    • Answer this question with a degree of openness. 
      • The job you are doing is not simply about putting money in your back pocket. 
      • It also indirectly affects the lives of others.
      • This includes helping others to secure themselves better.
      • You can tie in your workflow system in this question as it allows you to focus on specific tasks at one time. 
    • However, this question is more about how you view the underwriter position and the workload that follows.
      • Highlight your responsibilities as an underwriter.
      • The interviewer needs to be aware that you know what is at stake for a client.
      • The job is about getting an individual or their families to a prosperous financial space.
      • The position ensures that the client and their family are protected against any unexpected situations, leaving them in an unfortunate financial position.
      • Your motivation should come from your desire to provide something substantial to a client or company. 
    • Proving your dedication to handling long work hours and a heavy work schedule conveys to the employer why you want the position.

  5. How Do You Maintain An Organized Work Space?

    • A question that can appear is if you have an organized workspace. This is an indication of how you deal with tasks and, more importantly, complex projects. 
    • When you stay organized, you allow yourself to see every aspect of the job at hand. On top of this, the order you keep on your desk is how you will handle the job itself.
      • An immaculate space signifies an organized mind.
      • It is essential as with work duties and deadlines coming and going. You need to ensure nothing is forgotten.
      • It is a way to show that you are diligent and take pride in your work.
      • Keep things where they should be and prioritize space, so everything you need is insight.
      • You will have the space you need to get the job done.
    • You will now have everything you require to focus on the tasks you need to complete with a clean space.

  6. How Do You De-Stress From A Hectic Work Schedule?

    • Typically with this question, there is no right or wrong answer but one which opens a conversation.
    • Often the year-end schedule can be the busiest time of the year. 
    • The employer needs to know that you can handle this type of stress and manage your time effectively.
    • An employer wants to know that you can handle the job and ensure that you do not overwhelm yourself.
    • This is important as an individual. It is also crucial for a business that needs a reliable underwriter at all times.
    • You should answer this question with techniques that you use to de-stress and manage stressful professional expectations.
    • Let your own personality and interests show as it provides the interviewer with an opportunity to see the individual and the potential employee.
    • Remember, you are working at a company where interaction with people is essential. You need to show that you are equally able to balance your professional and personal life.

  7. Could You Offer Yourself As A Co-signer To Mentor An Inexperienced Underwriter?

    • This question could pop up and should be seen as an opportunity. Rather than seeing it as a test, the interviewer is actually asking if you can provide skills to other fairly new underwriters.
      • It ensures that when you are hired, you can supply skills and knowledge to other individuals.
      • This, in effect, guarantees that the business is growing and developing.
      • A business is always more likely to hire a person when they know they can benefit greatly in other areas.
      • Having positivity and communication through your teaching in accordance with codes shows the employer that you want to aid in the company’s success.

  8. What Are Some Interesting Situations You Have Found Yourself In When Viewing Cases From Opposing Sides Of The Spectrum?

    • This might seem like a complex question but it is yet another opportunity for you to express yourself as a person and show how you have handled projects in the past. Here you need to show that you are a well-rounded candidate.
      • Can you handle the pressure that comes with the job and blow off any minor inconveniences that come with it?
      • Are you able to put yourself in a position where you can meditate?
      • Do you have the ingenuity to provide restless clients with answers that will calm them down and leave them smiling?
    • Show yourself off here and give the interviewer the chance to view you as an asset and someone who can handle the pressure of an underwriter position.

  9. Do You Have Favorite Topics To Underwrite? What Is Your Least Favorite?

    • This is a two-part question that will test your abilities and commitment to your job.
    • Now, you need to answer with honesty in a way that shows even when you don’t like a certain topic you will still complete it in the given time and with diligence.
      • Highlight that you are, in fact, proud of your work and whether or not a topic is something you like, it will still be completed to a high degree.
      • It will demonstrate your strengths and weaknesses. However, it will also show that you are focused on providing excellent work.

  10. How Do You Handle Urgent Cases That Arise Out Of Nowhere?

    • Underwriters deal with advisers who can call you at any moment to give you urgent work. This can come out of nowhere, and advisors typically try to rush you into doing the work. You need to show how you handle the communication with the advisor. Moreover, you need to show the interviewer that you can build relationships and adjust your workflow accordingly to complete all work before the deadline.
      • In some cases, and with regard to your relationship with your advisor, you can schedule the case. In other scenarios, you will need to get the work done as soon as possible.
      • In this way, you show that you have time management skills coupled with great communication.

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Underwriter Interview Questions [With Answers]

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