Medical Underwriter
1 month ago
Job Purpose
Decides whether applications for insurance cover for should be accepted; assesses the risk according to the likelihood of a claim being made following established risk classification principles within delegated approval authority limit.
Main Responsibilities
1. Gathers and orders requirements using information from various sources (such as the Application Form, Medical Examination and other medical results, information provided by the advisors, MID, previous policies, etc.) to look for possible impairments (health, disease, occupation, hobbies, residence in dangerous local/foreign countries, financial circumstances, moral hazards, lifestyle, PEP/high risk etc.) that can increase the person’s insurance risk.
2. Assesses the degree of risk represented by the proposed insured and the owner after weighing up all the risk factors; decides whether to approve or deny the coverage within approval authority limit; makes recommendations for those over approval authority limit; recommends appropriate mortality rating for substandard cases; recommends decline, postpone and NPW decisions and refers them to higher underwriter.
3. Completes and updates our NB Systems, such as UW Assessment, UW Requirements, UW decision screens of WMS , IUM and ING during application evaluation and processing.
4. Provides information and support to advisors and other sales personnel through emails, SMS, and answering telephone inquiries to help them fulfill their field underwriting responsibilities in selecting risks and submitting underwriting information. Provides score to advisors for both positive and negative performances in WMS.
5 Refers malpractices and misrepresentations to immediate superior and to Compliance immediately upon discovery -
6. Reports impairment codes of substandard, Not as Applied For and Rejected cases to MIB PLIA System.
7. Calculates retention/reinsurance limits and prepares cession forms for reinsurance cases.
8. Renders assistance as maybe required to attain the department business objectives in supporting company drives and contests.
Minimum typical education
4-year College Degree Course, medical-related
Minimum typical experience
2 years to 4 years -
With at least 3-5 year experience in medical underwriting
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