Interviewing to Become Underwriter?

[Sphynx13]

Is it possible to break into underwriting from the brokerage side. To me it seems that if an underwriter wants to broaden their horizons and experience the broker side it works out perfectly fine. An underwriter can be hired as as an Account Manager or even an Account Executive. However, it seems to be the opposite for someone on the brokerage side. How can a person with only broker experience move into underwriting? Is it possible, or should I just give up on that one.

Here is my resume: During college, I worked part time at wholesale p&C insurance broker as a "production assistant" then straight out of college was hired full time. Since graduating, i have been involved with all new business accounts- from the marketing to the bind order. I have worked mainly on P&C accounts, but have been exposed to a few PL accounts. I have always had a passion to get into PL risks, and my boss has been very supportive of it and has paid for me to start my RPLU modules/exams. But with him mainly being a P&C producer, I feel I am restricted to the amount of experience I should be getting. I have an opportunity to become an underwriter for Lawyer PL or Executive risks. Not sure if this would be a good move. Is it at all possible to break into underwriting? Any advice?

 

[Sphynx13]

Broker to Underwriter?

Is it possible to break into underwriting from the brokerage side. To me it seems that if an underwriter wants to broaden their horizons and experience the broker side it works out perfectly fine. An underwriter can be hired as as an Account Manager or even an Account Executive. However, it seems to be the opposite for someone on the brokerage side. How can a person with only broker experience move into underwriting? Is it possible, or should I just give up on that one.

Here is my resume: During college, I worked part time at wholesale p&C insurance broker as a "production assistant" then straight out of college was hired full time. Since graduating, i have been involved with all new business accounts- from the marketing to the bind order. I have worked mainly on P&C accounts, but have been exposed to a few PL accounts. I have always had a passion to get into PL risks, and my boss has been very supportive of it and has paid for me to start my RPLU modules/exams. But with him mainly being a P&C producer, I feel I am restricted to the amount of experience I should be getting. I have an opportunity to become an underwriter for Lawyer PL or Executive risks. Not sure if this would be a good move. Is it at all possible to break into underwriting? Any advice?

 

[medsuptage]

They are two completely different things. I don't think this is going to be the place to look for an answer.

In all honesty, most people get into insurance for the perks of self employment and controlling your own income and business.

Your talking about going from sales back to a desk job. You might as well be going from brokerage side into the concrete business. Its right around that same level in difference going form Sales to underwriting.

 

[jdeasy]

Do you have any common sense? If the answer to that is yes you will never make it in the world of underwriting.

 

[WinoBlues]

Underwriter

..

 

[FEX Quotes]

Career Path of a Claims Adjuster?

 

[OhioInsurance55]

Greetings,

You have made a GREAT choice interviewing as an underwriter, may I ask which company?

Anyway my father has been on both the Underwriting side, and Brokerage, he has owned and sold his own MGA, and also ran a personal agency while being an Underwriting Director at age 34 for a major insurer (USF&G, sold to Travelers in 98) in the 90's.

I can tell you that it can be a very rewarding, challenging, and lucrative living. Underwriters often are promoted to Product Managers, so at this point you get to kind of be a jack of all trades, and not just working with numbers. After that, if you are good, Underwriting Director and eventually Officer level/VP can be very rewarding both $ and career wise.

I'm 21, and going into Underwriting in either Property, or Commercial Transportation (Truck/Bus) and I can tell you I find the risk management, and modeling fascinating. Once you move up from being just an "underwriter" the money is good, and travel opportunities are typical.

One thing I will tell you is if you are a "great" broker, then the money is typically better until you get into officer/executive level positions in underwriting.

One other thing, the unemployment rate for underwriters is essentially 0....even the terrible underwriters have jobs (reference CNA Insurance.....)

 

[learninsurance]

Two sides have its own advantages and disadvantages. It depends on how you will handle your career whether it is for underwriting or brokerage. Like what they said, underwriting is much better but brokerage also brings a lot of opportunities depending on your skill.

 

[gus2007]

Would you want to work in a call center? That is basically what an underwriter does. They sit at a desk and work on computers and talk on the phone all day. I've never met an underwriter who enjoyed their job.

 

[NCAgent]

Idunno, I got to sit down with a lot of underwriters at one of my insurance companies and they say they don't do a lot on the phone at all. They answer calls when agents call in but usually they are reviewing policies and also doing activity plans for agencies to increase production and things like that. They said they are on the phone about 20% of the time, which is what I do as an agent now.

I like being an agent but there are times that the math and science in me likes the analytic side of insurance that an underwriter has. I guess like a car salesman who is fascinated with how the car works...