Underwriter Advice Needed...
Posted: Tue Jan 14, 2014 2:27 pm
Hello everyone. I am a recent graduate with a degree in Business Economics. I landed a job as a Junior Underwriter in a special lines sector of the insurance industry. We provide short-term medical insurance to insureds who are outside of their home country for less than a year. We also provide travel insurance such as trip cancellation, emergency evacuation, lost luggage coverage, etc.
I have no prior experience and in this industry it is hard to find any materials on how to underwrite. I do not know if the way I am being trained is similar to other lines of insurance but I wanted to reach out and see if anyone had any suggestions or helpful sites that could ease my learning curve.
I am only 6 months in and I believe I have a very good mentor. He tells me that their is no one way to underwrite and every account will most likely be underwritten differently than other accounts. I am beginning to understand the relationships between TPAs, Producers, Carriers, etc. I am becoming familiar with how commission structures are set up. My main areas where I seem to be struggling are when it comes to rating an account.
Does anyone have any advice on how to help me understand the different ways I can underwrite or some tips to keep in mind that will help me along the way? I truly appreciate any and all the help I can get. It means a lot to me. Thank you for taking the time to read through my post and I hope I can pay it forward on this forum as I start to better understand the machine that is the insurance industry.
Thank you...
-Garrett
I have no prior experience and in this industry it is hard to find any materials on how to underwrite. I do not know if the way I am being trained is similar to other lines of insurance but I wanted to reach out and see if anyone had any suggestions or helpful sites that could ease my learning curve.
I am only 6 months in and I believe I have a very good mentor. He tells me that their is no one way to underwrite and every account will most likely be underwritten differently than other accounts. I am beginning to understand the relationships between TPAs, Producers, Carriers, etc. I am becoming familiar with how commission structures are set up. My main areas where I seem to be struggling are when it comes to rating an account.
Does anyone have any advice on how to help me understand the different ways I can underwrite or some tips to keep in mind that will help me along the way? I truly appreciate any and all the help I can get. It means a lot to me. Thank you for taking the time to read through my post and I hope I can pay it forward on this forum as I start to better understand the machine that is the insurance industry.
Thank you...
-Garrett