The insurance industry continues to grow, yet insurance companies can’t always find the people they need to meet their business goals. Many interesting and fulfilling jobs are available in insurance, yet they may go unnoticed by job-seekers.
One such role is that of a commercial underwriter or broker. Commercial underwriters play an essential role in the property and casualty insurance business.
What Does a Commercial Underwriter Do?
Commercial underwriters write insurance policies for non-residential real estate – everything from restaurants and convenience stores to large factories.
Commercial underwriters’ work requires them to analyze a wide range of data and other information in order to determine risk. Based on their risk assessment, they then decide whether to insure an applicant’s property.
If they decide to insure, commercial underwriters also write the policies that cover the client. They decide how much coverage should be offered and at what prices. While commercial underwriters do much of their work in an office, the job does require occasional travel to view properties in person or to hold in-person meetings with clients.
What Skills Are Required to Be a Commercial Underwriter?
Commercial underwriters need strong skills in mathematics, statistics and data analysis. The ability to communicate clearly and precisely is a must, especially in written forms like insurance policies and email.
Typically, a commercial underwriter will work under the supervision of a senior underwriter for several years as they begin their career. The ability to take direction and apply it is essential for success during this period. Being able to learn on the job also paves the way for future success in an underwriting career.
Most insurance companies look for commercial underwriter candidates who hold at least a bachelor’s degree. Degrees in business, finance, mathematics, economics or risk management are the most popular. Candidates who have internship or field experience in risk management also tend to stand out.
Where Can I Find a Great New Job as a Commercial Underwriter?
To learn more about the field of commercial underwriting, don’t hesitate to reach out to a staffing firm that specializes in placing commercial underwriters. Your recruiter can help you determine whether your skills are the right fit for the job and connect you with leading companies.
At THE RIGHT STAFF, LLC, our Minneapolis-based recruiters connect job-seekers with some of the best companies and job opportunities in the Twin Cities area. To learn more, contact us today.