Underwriting

An insurance underwriter evaluates risks for both individuals and businesses, determining appropriate coverage terms, premiums and conditions. This involves analysing a wide range of risk exposure to ensure balanced risk management while adhering to regulatory requirements. Their role is crucial in safeguarding customers while maintaining the Company’s financial stability in order to fulfill our obligations to our customers.

What does an underwriting department do?

• Assess the inherent risks associated with the policyholder.
• Calculate premiums based on the level of risk, ensuring they are competitive while sufficient to cover potential claims.
• Consider key risk indicators that may impact the likelihood of claims.
• Analyze past claims history to predict future risks and determine the company’s risk appetite and acceptance threshold.
• Review regulatory requirements and ensure compliance with industry standards.
• Continuously monitor and refine risk assessment and premium calculation methods to reflect current data and trends.