What does an underwriter do?
An insurance underwriter’s role involves examining and assessing the risk of a company or person in accordance with the possibility of a claim being made. They make the decision on whether insurance cover applications are accepted and if they are, they decide on the terms and conditions.
Most underwriters specialise in one of the below types of insurance:
Commercial insurance - covering companies
General insurance - household, travel or motor
Life assurance - illness, injury and death
Reinsurance - where part of the risk is placed with another company
When applying for not just an underwriting position but any particular role, you should be tailoring your CV for that position. Highlight certain skills and experience for different roles. For example, for a commercial underwriting job, you might want to tailor your CV to include references to your knowledge of the type of insurance, a qualification such as a Chartered Property Casualty Underwriter certificate or skills such as excellent customer service.
Are you looking for a new insurance job in Manchester?
Skills
As an underwriter, you play a critical role in evaluating risk and ensuring financial stability. Your CV should showcase your ability to perform comprehensive risk analyses and produce impactful results. These skills will help you stand out to hiring managers and the best insurance recruiters in Manchester.
There are two types of skills to cover. First are hard skills, which include the practices and knowledge you’ve gained through previous insurance training and experience. As an underwriter, this could comprise of:
Good understanding of insurance principles
Risk assessment software experience
Financial analysis
Policy evaluation
Reporting
The second type of skills you need to highlight are your soft skills, also known as transferable skills. These are your interpersonal behaviours and attributes that help you to excel in the workplace, emphasise your work ethic and compliment your hard skills. As an underwriter, this could include:
Effective communication
Collaboration with underwriting teams
Analytical thinking and problem-solving
Adaptability to changing market conditions
Leadership
An underwriter position will also require you to be proficient in certain programs, so aim to highlight the breadth of your IT skills, for instance, your proficiency in Excel or any previous experience using underwriting software such as RiskIQ or RMS. Employers and insurance recruitment agencies in Manchester will look for a combination of these hard and soft skills that align with the role’s requirements.
Work Experience
The work experience section of your CV needs to be more than a simple shopping list of your past jobs. You need to showcase your exemplary skills, understanding, and abilities regarding the role and its responsibilities.
Be specific and go into more detail than a brief description. Consider questions such as what’s the average policy size and largest policies you have dealt with? What have your authority limits been?
Include any key achievements with numerical details such as percentage increase in risk assessment accuracy or processing time, e.g., “Implemented new risk assessment procedures, resulting in reduced underwriting gloss by 20%." This will emphasise your ability to perform well in your role and will show the hiring manager that you can provide substantial results.
Industry Certifications
Certifications are highly valued in the insurance industry. The Chartered Insurance Institute (CII) offers the qualifications: Cert CII, DIP CII, ACII and FCII. Showcasing them on your CV demonstrates your dedication to professional growth and highlights your understanding of essential industry regulations and standards.
While a specific degree isn’t required to become an insurance underwriter, educational backgrounds in fields like business, finance, management, economics, law, or mathematics are often preferred for insurance jobs in Manchester.
If you have extensive experience in the insurance field, the certifications you’ve obtained should be a focal point of your resume.
If you’re new to the industry and don’t yet hold any certifications, emphasise relevant coursework from your degree to showcase your foundational knowledge and any training you might have undergone to learn more about the sector.
Underwriting Terminology and Action Verbs
Hiring managers and insurance recruitment agencies in Manchester appreciate CVs that incorporate industry-specific terminology and actionable language, so using action words such as "analysed," "managed,” and “developed” can help emphasise the expertise you have in the industry and role you are applying for.
Making sure your CV is Applicant Tracking System (ATS) friendly is also important, as this helps ensure that it passes through ATS filters, increasing your chance of your CV standing out to employers. When reading over underwriting job postings, include some of the keywords used in the job description in your CV, and ensure that it is presented in a clear, suitable format.
Whether you’re working with the best insurance recruiters in Manchester or applying directly to companies, a tailored CV increases your chances of landing the right role. The insurance industry in Manchester is competitive, so aligning your skills, experience, and certifications with the job description is essential.
If you’re seeking advice, consider reaching out to an insurance recruitment agency in Manchester, such as Get Recruited, for guidance on crafting a CV that showcases your strengths and meets industry expectations.