Underwriter

What Does Underwriter Mean?

An underwriter is a qualified professional who assesses an insurance proposal to determine the type and level of risk involved. They use statistical data, background information, and actuarial analysis to decide the appropriate premium to be charged to the potential client.

Insuranceopedia Explains Underwriter

An underwriter analyzes risk by evaluating the likelihood of a claim, considering various factors, including background information on potential clients. They then determine the appropriate premium. This process may involve collaborating with risk managers, claims managers, and actuaries. Such teamwork ensures the business can attract and retain clients while maintaining profitability and financial solvency.