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Insurance Underwriters

NOC Code - 1313

4 to 8 years experience required

51,597 CAD to 85,300 CAD P.A.

Canada

Job Profile Detail

Insurance underwriters review and evaluate insurance applications to determine insurance risks, insurance premiums and extent of insurance coverage according to company policies. They are employed at head and branch offices of insurance companies.

 

Job Titles

  1. Accident and sickness underwriter - insurance
  2. Assistant underwriter - insurance
  3. Automobile and home insurance consultant
  4. Automobile underwriter - insurance
  5. Boiler and machinery underwriter - insurance
  6. Casualty insurance products analyst-designer
  7. Casualty underwriter - insurance
  8. Commercial underwriter - insurance
  9. Farm underwriter - insurance
  10. Fire underwriter - insurance
  11. Group underwriter
  12. Group underwriter - insurance
  13. Head office underwriter - insurance
  14. Home office underwriter - insurance
  15. Insurance rating analyst
  16. Insurance underwriter
  17. Junior underwriter - insurance
  18. Liability underwriter
  19. Life underwriter
  20. Marine and aircraft underwriter - insurance
  21. Marine underwriter - insurance
  22. Package underwriter - insurance
  23. Personal lines underwriter
  24. Property underwriter
  25. Property underwriter - insurance
  26. Public liability underwriter - insurance
  27. Reinsurance underwriter - insurance
  28. Senior underwriter - insurance
  29. Surety underwriter - insurance
  30. Underwriter - insurance

Available Visa Options

Federal Skilled Worker (FSW), Temporary Resident Visa (TRV)

Occupational List

National Occupational Classification (NOC)

Process Time

5 to 6 Months

Job Status

Permanent Full Time

Job Duties

1.       Analyze information stated on insurance applications
2.       Determine the risk involved in insuring a client
3.       Screen applicants on the basis of set criteria
4.       Evaluate recommendations from underwriting software
5.       Contact field representatives, medical personnel, and others to obtain further information
6.       Decide whether to offer insurance
7.       Determine appropriate premiums and amounts of coverage
8.       Review and update the rules that govern automation software
9.       Review insurance applications for compliance and adherence
10.    Assess clients’ background information and financial status
11.    Liaise with specialists to gather information and opinions
12.    Weight loss exposures and determine underwriting alternatives
13.    Draw up a quotes for competitive insurance premiums
14.    Negotiate and define the specific terms of insurance policies with brokers or policyholders
15.    Keep detailed records of policies underwritten and decisions made
16.    Balance between mass and homogeneity of risks to achieve predictability of future results
17.    Develop and maintain a profitable book of business for the insurer
18.    Follow applicable insurance laws 

Key Skills

  • Analytical skills
  • Good maths and statistics skills
  • Attention to detail
  • Verbal and written communication skills
  • IT skills
  • Good judgement
  • Negotiation and interpersonal skills

Education Requirement

1.       Completion of secondary school and some general insurance experience or a bachelor's degree, college diploma or some post-secondary education is required.
2.       Several years of on-the-job training and completion of insurance industry underwriting courses and training programs are required.

What are document required to apply job in Canada?

Fee Structure

One Time Membership Fees Rs. 6,500/- (5,508.47 + 991.53 (18% GST))
At the time of Agreement Rs 85,000 + 18% GST

Other Fee

VFS Global Services Fees (Application Submission for Primary Applicant) Rs. 1,248/-
Secondary Client/ Applicant Fee Rs.874/- (If Applicable)
Embassy Fees https://www.cic.gc.ca/english/information/fees/fees.asp

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