Insurance Underwriter- Top 10 interview questions and answers
Insurance Underwriters is a key position in the insurance department of an organization which involves analyzing and scrutinizing insurance applications for risk factors and determining whether they should be accepted for insurance or rejected; however make a point to highlight all skills and value additions you can add to the position and the organization.
- Tell me about yourself?
This is a very simple question which should be taken as such and answered. A good practice is to steer the interviewer towards your strong and unique skills which are compatible with the position and elaborate on that. You could also relate the skill to a previous position in which you used it to the best of your ability.
- How do you manage and communicate with complex natured or uncooperative team members or managers?
As an Insurance Underwriter, one of the most critical skills is excellent interpersonal skills as this position is normally a mix of individual and team based performance. Clear and firm communication and collaboration with all the finance specialists, surveyors, and doctors is really a big part of the Insurance Underwriter’s position. A good answer here will be an example of a situation in any of your previous roles in which you handled teamwork and difficult team members well and had a great team job result.
- Are you aware of the latest risk factors affecting the companies?
In this question, mention and elaborate on the different risk factors which you have learnt or worked with in previous job roles. Specifically read up on the company before you go for the interview, and be sure to mention if you have worked on the risk factors which this company receives in its applications. This will reassure the hiring manager that you are aware of the risks and the associated factors which the company faces and manages on a daily basis.
- What do you think are the key skills needed to succeed as an Insurance Underwriter?
This is a perfect question to showcase your unique skills and experience which you add to the position. Take this opportunity to describe the key skills which you have in terms of the technical and the non-technical knowledge needed along with the soft skills like great interpersonal and communication skills.
- Why should we select you for this Insurance Underwriter position?
In this question, the candidate should connect his skills and experience with the job requirements and describe how they are a perfect fit. She should explain how her personality and passion are compatible to the position requirements and how she would do a great job once she secures the position. Examples should be liberally used to support the case.
- If you are given a business system case study for an insurance application underwriting, how would you approach it?
What exactly the employer wants to know is how you will understand and deal with the case at hand.
A good answer will be to describe that you will look at understanding the financial document analysis of the policyholder, scrutinize all documents to understand the risks faced by the company, assign a monetary value to the risk and then communicate to the policyholder. Finally end the answer with an example of how you actually underwrote an insurance application in current organization.
- Can you explain a typical day at work for you in your current role?
In this question, the employer wants to know how you can multitask and manage different priorities in a typical day. So ideally you should explain this with an example of a situation in a typical work day in your current job role.
- What do you do when you don’t have the faintest idea about any risk factor identified in the detailed analysis?
If while scrutinizing an insurance application, you are not aware of any one risk factor, it is best to speak to your manager, learn more and then deal with the factor. Ask for help when you get stuck rather than just ponder over the matter.
- Can you share one time when you did a great job at your previous position?
This is the best question an interviewee can get as it gives her an opportunity to present one of her strengths. Use this opportunity to present a strength and also exhibit and describe in detail one work situation where this was utilized well. Use numbers to show how it added value to the organization.
- What is your greatest weakness?
This is a question which should not be sidetracked and should be answered honestly. Pick any small flaw or anomaly in your behavior and share it with the interviewer along with any action you are taking to improve it.