Underwriter Trainee Education and Job Requirements


Underwriter Trainee Requirements

An underwriter trainee is a professional who stands as a testimony while issuing an insurance coverage, or while helping a client to take loan from a bank. For the same, the underwriter trainee evaluates the financial position of the client and analyses the risks that could arise by underwriting the insurance policy or the loan. The job of an underwriter is very specialised one and one needs to have good analytical skills and eye for detail to perform the responsibilities well as an underwriter trainee. After the initial learning period, if the firm finds the candidate suitable for the job, then the underwriter trainee can become a permanent underwriter. Candidates must necessarily possess the relevant academic knowledge in finance and accounts to become an underwriter. The following are the education requirements and job requirements of an underwriter trainee.

Education Requirements:

  • Candidates, who want to become underwriter trainees can get enrolled in Bachelor’s degree in business and master degree in business under any specialisation, preferably finance or accounts.
  • Employers make a point to test the accounts knowledge of the candidates as the candidates should evaluate the financial position of the company by analysing balance sheets, income statements, etc.
  • Employers tie up with various universities that provide more specialised courses in underwriting which candidates can make use of.

Job Requirements:

  • An underwriter can work independently or as a partner to banks, insurance companies or other financial institutions.
  • An underwriter trainee collects applications from the clients, conduct a background check of all their information, analyses the client’s ability to repay, his assets, third party nominees, recommendations, etc.
  • If the underwriter trainee finds that the creditability of the client is good, then he takes the share of risk that may occur if the client is unable to repay the amount.

Category: Trainee Education Requirements

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