actuarial science
The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.
Property insurance underwriters assess and determine the risk and coverage of a client's property insurance. They analyse and review underwriting policies according to legal regulations.
Competences and skills
33 ESCO relationsEssential knowledge 8 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
4 competencesclaims procedures
The different procedures that are used to formally request a payment for a suffered loss from an insurance company.
principles of insurance
The understanding of the principles of insurance, including third party liability, stock and facilities.
real estate underwriting
The process of evaluating applications for loans in real estate activities in which not only the prospective borrower but also the property being traded in is evaluated in order to assess whether the property will be capable of redeeming its value.
Cross-sector
4 competencesinsurance law
The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.
mortgage loans
The financial system of acquiring money by property owners or prospective property owners, in which the loan is secured on the property itself so that the property can be repossessed by the lender in the absence of payments due by the borrower.
property law
The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.
types of insurance
The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.
Essential skills and competences 9 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
4 competencesanalyse claim files
Check the claim from a customer and analyse the value of the lost materials, buildings, turnover or other elements, and judge the responsibilities of the different parties.
assess coverage possibilities
Examine the reports dealing with damage appraisal or injury examination in order to verify whether the insured's damages or injuries are covered in their insurance policies, and if they are to assess to which extent they are covered and what settlements the insurer may have to provide.
handle incoming insurance claims
Manage, process and evaluate submitted requests for insurance in case a problem, which is covered under an insurance policy, occurs. The claim may or may not be approved, based on assessment of the circumstances.
review insurance process
Analyse all documentation related to a specific insurance case in order to ensure that the application for insurance or the claims process was handled according to guidelines and regulations, that the case will not pose significant risk to the insurer or whether claims assessment was correct, and to assess the further course of action.
Cross-sector
5 competencesanalyse financial risk
Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.
analyse insurance risk
Analyse the probability and size of the risk that is to be insured, and estimate the value of the insured property of the client.
develop investment portfolio
Create an investment portfolio for a customer that includes an insurance policy or multiple policies to cover specific risks, such as financial risks, assistance, reinsurance, industrial risks or natural and technical disasters.
review investment portfolios
Meet with clients to review or update an investment portfolio and provide financial advice on investments.
track changes in text editing
Track changes such as grammar and spelling corrections, element additions, and other modifications when editing (digital) texts.
digital
Optional knowledge 2 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
0 competencesNo competences in this bucket.
Cross-sector
2 competencesinsurance market
The trends and major driving factors in the insurance market, insurance methodologies and practices, and the identification of the major stakeholders in the insurance sector.
real estate market
The trends concerning the buying, selling, or renting of property, including the land, buildings, and natural resources encompassed within the property; the categories of residential properties and properties for business purposes which such properties are traded in.
Optional skills and competences 14 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
8 competencesadvise on insurance policies
Advise on specific contracts and general insurance guidelines, such as the terms of coverage, the risks that are involved, the handling of claims, and terms of settlements.
calculate insurance rate
Gather information on the client's situation and calculate their premium on the basis of various factors such as their age, the place where they live and the value of their house, property and other relevant assets.
collect property financial information
Collect information concerning the previous transactions involving the property, such as the prices at which the property had been previously sold and the costs that went into renovations and repairs, in order to obtain a clear image of the property's value.
create underwriting guidelines
Create guidelines for the assessment of risks and determining whether acceptance of liability and granting payments is worth the risk for the organisation. Develop improved methods of analysis which ensure that all aspects of the underwriting process are examined.
decide on insurance applications
Assess applications for an insurance policy, taking into account the risk analyses and client information, in order to deny or approve the application and set in motion the necessary procedures following the decision.
estimate damage
Estimate damage in case of accidents or natural disasters.
manage loan applications
Manage the application process for loans from the process of interviewing the applicant and reviewing the documentation, assessing the risks, and accepting or denying the loan and ensuring compliance with the underwriting process.
negotiate on asset value
Negotiate with asset owners or parties involved in handling the asset on the monetary value of the asset for selling, insurance, usage as collatoral, or other purposes, in order to secure the most financially beneficial agreement for the client.
Cross-sector
6 competencesanalyse insurance needs
Gather information about the insurance needs of a client, and give information and advice about all possible insurance options.
create insurance policies
Write a contract that includes all the necessary data, such as the insured product, the payment to be made, how often the payment is needed, the personal details of the insured and on what conditions the insurance is valid or invalid.
examine mortgage loan documents
Examine documents from mortgage borrowers or from financial institutions, such as banks or credit unions, relating to a loan secured on a property in order to examine the payment history of the loan, the financial state of the bank or borrower, and other relevant information in order to assess the further course of action.
handle financial disputes
Handle disputes between individuals or organisations, either public or corporate, which deal with financial matters, accounts, and taxation.
manage contract disputes
Monitor issues that arise between the parties involved in a contract and provide solutions in order to avoid lawsuits.
organise a damage assessment
Organise a damage assessment by indicating an expert to identify and examine the damage, give information and instructions to experts and follow up on the experts, and write a damage report.