Underwriter qualifications to look for
Underwriters make the decision to offer clients insurance or loans by reviewing insurance/loan applications and perform risk analysis.
This role doesn’t demand a degree, but rather requires candidates with a strong financial background and insurance or loan expertise.
Your next team players should have experience analyzing credit scores, negotiating loan terms and determining amounts of coverage. They know the insurance review application process like the back of their hand and can you walk you through it.
Keep an eye out for candidates who are:
- Thorough with research
- Solid in their judgement
- Make clear recommendations
Top tip: Hire candidates willing to grow by making sure their personal career goals align with your company's mission.
Problem-solving interview questions
- What are the key indicators you should instantly decline an insurance application? Why?
- How do you weigh risk and evaluate whether you should take it?
- Your gut tells you it’s too risky to make an offer to a client. But the evidence doesn’t back you up. What do you do?
- A potential client had undergone bankruptcy 10 years ago but has maintained a healthy financial status. Would you recommend we offer them insurance/loan?
- You can’t find adequate information about a client’s financial status. What is the next step you take? How do you ensure that you have done thorough research?
Role-specific interview questions
- Describe your step-by-step process before arriving at an insurance decision.
- What process do you think is most effective for fraud detection?
- What information do you look for when performing a background check on a client? What resources do you use?
- What are debt and loan-to-value ratios? How do they help you make decisions about a loan?
- What statistical software do you have experience working with? What are your favorite features?
- How do you present your findings and organize records for future use?
Behavioral interview questions
- How do you stay motivated during daily tasks?
- What’s your biggest professional accomplishment so far? How has it helped you grow?
- How do you stay current with changes in financial regulations and trends? What publications do you read?
- Have you ever disagreed with your manager about an insurance decision? How did you handle the situation?