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OaSIS 2025 Version 1.0
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12202.00 – Insurance underwriters

Insurance underwriters review and evaluate insurance applications to determine insurance risks, insurance premiums and extent of insurance coverage according to company policies.

Overview

Example job titles

  • Group underwriter
  • Insurance underwriter
  • Liability underwriter
  • Property underwriter

Core competencies

  • Evaluation and Systems Analysis to ensure the processes are reliable and the underwriting processes adhere to company policies and regulatory requirements
  • Critical Thinking and Decision Making to evaluate scenarios from various angles, weigh evidence and make well-informed decisions about coverage and premiums
  • Problem Identification and Inductive Reasoning to evaluate new and renewal insurance applications to determine risks, premiums, coverage and other conditions of insurance contracts
  • Mathematical Reasoning and Numerical Ability to evaluate numerical data such as statistics, probability and historical trends to assess the likelihood of potential claims
  • Attention to Detail to meticulously review applications and related documents to accurately assess the risk associated with insuring a particular individual or entity
  • Knowledge in Finance to understand financial principles, assess the risk of insuring an individual or entity, set premiums that reflect that risk and ensure profitability for the insurer

Main duties

This group performs some or all of the following duties:

  • Review individual and group applications for automobile, fire, health, liability, life, property, marine, aircraft and other insurance
  • Evaluate new and renewal applications to determine insurance risks, insurance premiums, extent of insurance coverage and other conditions of the insurance contract using medical reports, rate tables and other documents and reference materials; adjust premiums, coverage or risk itself to make acceptance of new and renewal applications possible
  • Approve sale of insurance policies and ensure compliance with government regulations
  • Provide recommendations on individual or group insurance plan designs
  • Provide underwriting advice and answer inquiries from clients and from insurance agents, consultants and other company personnel
  • Prepare underwriting reports and update insurance forms when necessary.

Additional information

  • Progression to management positions in the insurance industry is possible with experience.
  • Completion of educational programs through the Insurance Institute of Canada or its provincial counterparts entitles insurance underwriters to professional recognition as a Chartered Insurance Professional (CIP) and, with additional university courses, as a Fellow, Chartered Insurance Professional (FCIP).

Similar occupations classified elsewhere

Exclusions:

  • Insurance agents and brokers (63100)
  • Insurance, real estate and financial brokerage managers (10020)

NOC hierarchy breakdown

NOC version

NOC 2021 Version 1.0

Broad occupational category

1 – Business, finance and administration occupations

TEER

2 – Occupations usually require a college diploma or apprenticeship training of two or more years; or supervisory occupations

Major group

12 – Administrative and financial supervisors and specialized administrative occupations

Sub-major group

122 – Accounting, insurance and related business administrative occupations

Minor group

1220 – Accounting, insurance and related business administrative occupations

Unit group

12202 – Insurance underwriters

Occupational profile

12202.00 – Insurance underwriters

O*NET in-it

This page includes information from the O*NET 27.2 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA. Employment and Social Development Canada has modified all or some of this information. USDOL/ETA has not approved, endorsed, or tested these modifications.