#PHSfit Career of the Day: Insurance Underwriter

Underwriters are the main link between an insurance company and an insurance agent. Insurance underwriters use computer software programs to determine whether to approve an applicant. They take specific information about a client and enter it into a program. The program then provides recommendations on coverage and premiums. Underwriters evaluate these recommendations and, using predetermined criteria, decide whether to approve or reject the application. If a decision is difficult, they may consult additional sources, such as medical documents and credit scores. Insurance underwriters must achieve a balance between risky and cautious decisions. If underwriters allow too much risk, the insurance company will pay out too many claims. But if they don't approve enough applications, the company will not make enough money from premiums. Most firms prefer to hire applicants who have a bachelor’s degree in business, finance, economics, or mathematics.
http://www.bls.gov/ooh/business-and-financial/insurance-underwriters.htm