To ‘underwrite’ means to accept liability for possible losses by clients. Underwriters calculate the financial risk of insuring a business or an entity, for prospective and current clients. Underwriters are active in different lines of insurance business, such as auto, home, commercial and farm insurance, individual, life and group life and health.
Eligibility:
After completing 1o+2 one has to pass the entrance examination conducted by the Actuarial Society of Indi. License is needed to work in this field which can be achieved through a training programme.
List of top colleges:
- Delhi Degree College, Badarpur, Delhi
- Institute of Banking & Finance (TKWs Group), New Rajendra Nagar, Delhi
- Aizaz Rizvi College of Journalism & Mass Communication, Lucknow
- Symbiosis Centre for Distance Learning (SCDL) – Pune, Model Colony, Pune
- Sanpada College of Comm. & Technology, Navi Mumbai
- International Council for Management Studies, Chennai
- College of Insurance & Risk Management (CIRMS), Hyderabad
- College of Insurance & Risk Management (CIRMS), Mumbai
Job prospects:
- Being an Insurance underwriter is an excellent career option in the financial sector, to be more specific in the Insurance career. People who enjoy analyzing information and are detail oriented find underwriting a suitable and satisfying job option. It is expected that the need for underwriters will remain constant throughout time, as insurance is considered to be a necessity for individuals and businesses both in good times and in times of crisis. It is considered as a profession that is less subject to recession compared to other career fields.
- Underwriters job include studying insurance proposals, gathering and assessing background information, calculating possible risk and determining the premium
