Job Description

Insurance underwriters decide if applications for insurance cover (risks) should be accepted and if so, what the terms of that acceptance are. They assess a risk according to the likelihood of a claim being made by weighing up a number of factors and asking for detailed information from prospective clients (policyholders). The aim is to minimise losses for their company and help to make a profit.

Most underwriters specialise in one type of insurance. The main types of insurance are:

  • reinsurance: part of the risk is placed with another insurer.
  • life insurance/assurance: covers illness, injury, death;
  • general insurance: covers household, pet, motor, travel;
  • commercial insurance: covers companies;

Insurance underwriters work closely with actuaries, risk and claims managers to ensure a balance between attracting and retaining customers through competitive insurance premiums (fees) and being able to cover any potential losses from claims.

Job Duties/Responsibilities

  • negotiating with brokers and drawing up contracts;
  • writing policies;
  • keeping detailed and accurate records of policies underwritten and decisions made.
  • studying various insurance proposals;
  • gathering and assessing background information in order to effectively assess the risk involved;
  • deciding whether the risk should be shared with a reinsurer;
  • computing results for appropriate premiums using actuarial information, other statistics and own judgement;
  • visiting brokers or potential customers and preparing quotes;
  • liaising with specialists, such as surveyors or doctors, for risk assessment;
  • calculating possible risk and deciding how much individuals or organisations should pay for insurance (the premium);
  • gathering information and various types of reports (e.g. medical records) from specialists;
  • negotiating terms with policyholders or their brokers;
  • ensuring that premiums are competitive;
  • specifying conditions to be imposed on different types of policies, for example, asking that a property owner install a security alarm;



1 Trans-Amadi Road, Port Harcourt.