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We asked Liam McCaul from Sustainable Energy Authority to give some advice for people considering this job:

 

Liam McCaul

R&D Engineer

Sustainable Energy Authority

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  Liam McCaul
Do your best to find out the most you can about your specific engineering category, whether it be Electronics, Mechanical, Civil etc. Approach companies to try and get experience whilst you are at college, that way you have a running start on how to use the most up to date packages and instruments that companies have, and that then gets you the work experience when you finish college.
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The Linguistic's interests are usually focused on ideas and information exchange. They tend to like reading a lot, and enjoy discussion about what has been said. Some will want to write about their own ideas and may follow a path towards journalism, or story writing or editing. Others will develop skills in other languages, perhaps finding work as a translator or interpreter. Most Linguistic types will enjoy the opportunity to teach or instruct people in a topic they are interested in.
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Occupation Details

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Underwriter - Insurance (Technical)

Job Zone

Education
Most of these occupations require qualifications at NFQ Levels 7 or 8 (Ordinary / Honours Degrees) but some do not.

Related Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an engineer must complete four years of college and work for several years in engineering to be considered qualified.

Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

Job Zone Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, computer programmers, teachers, chemists, environmental engineers, criminal investigators, and financial analysts.

€21k > 125 
Insurance Underwriter
Salary Range
(thousands per year)*
€21 - 125 
Related Information:
Underwriting Manager: 60 - 125
Underwriter General: 21 - 80
Underwriter Life: 30 - 65
Assistant Underwriter: 25 - 35
Data Source(s):
Sigmar / Brightwater / CPL / Hudson / Abrivia / Lincoln

Last Updated: February, 2017

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.
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At a Glance... header image

Examines the report of the Insurance Surveyor and sets out the policy details to meet the clients insurance needs.


The Work header image

Technical Underwriters evaluate risks and decide whether to provide insurance cover for these risks and on what basis.

Techncial underwriters gain as much material information as possible about the risks they need to insure. They do this through fact-finding, including having customers complete proposal forms, carrying out risk assessments, knowledge gained of similar trades and businesses and studying any past claims/incidents. They then price the risk using knowledge of the business, company rate guides or actuarial support and then they decide on policy wordings including terms and conditions.

 


Tasks & Activitiesheader image

The following is a list of the most commonly reported tasks and activities for this occupation

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Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe profitable distribution of risks, using reference materials.

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Decline excessive risks.

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Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.

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Review company records to determine amount of insurance in force on single risk or group of closely related risks.

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Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.

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Authorize reinsurance of policy when risk is high.

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Evaluate possibility of losses due to catastrophe or excessive insurance.

Work Activities header image

The following is a list of the most commonly reported work activities in this occupation.

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Processing Information:  Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

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Updating and Using Relevant Knowledge:  Keeping up-to-date technically and applying new knowledge to your job.

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Analyzing Data or Information:  Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

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Making Decisions and Solving Problems:  Analyzing information and evaluating results to choose the best solution and solve problems.

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Establishing and Maintaining Interpersonal Relationships:  Developing constructive and cooperative working relationships with others, and maintaining them over time.

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Getting Information:  Observing, receiving, and otherwise obtaining information from all relevant sources.

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Evaluating Information to Determine Compliance with Standards:  Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

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Communicating with Supervisors, Peers, or Subordinates:  Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

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Organizing, Planning, and Prioritizing Work:  Developing specific goals and plans to prioritize, organize, and accomplish your work.

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Documenting/Recording Information:  Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.


Knowledge header image

The following is a list of the five most commonly reported knowledge areas for this occupation.

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Medicine and Dentistry:  Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.

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English Language:  Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

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Customer and Personal Service:  Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

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Mathematics:  Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

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Clerical:  Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.


Skillsheader image

The following is a list of the most commonly reported skills used in this occupation.

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Active Listening:   Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

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Judgment and Decision Making:   Considering the relative costs and benefits of potential actions to choose the most appropriate one.

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Writing:   Communicating effectively in writing as appropriate for the needs of the audience.

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Critical Thinking:   Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

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Reading Comprehension:   Understanding written sentences and paragraphs in work related documents.

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Speaking:   Talking to others to convey information effectively.

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Service Orientation:   Actively looking for ways to help people.

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Active Learning:   Understanding the implications of new information for both current and future problem-solving and decision-making.

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Social Perceptiveness:   Being aware of others' reactions and understanding why they react as they do.

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Complex Problem Solving:   Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Personal Qualitiesheader image

As an underwriter you must keep up with technological developments and changes in law and taxation. The amount of expert knowledge required is so great that most underwriters specialise in one class of insurance. These include marine, aviation, motor, life, property, pensions and liability insurance.  
 
Some underwriters specialise in re-insurance, where an insurance company accepts a risk that is so large that it takes out insurance cover itself with several other companies, thereby spreading the risk.  
 
Communication, interpersonal and organisational skills are also desirable. Numeric competence is an advantage.


Entry Routesheader image

Career progression in this job role includes Senior Underwriter and Head of Underwriting.

Entrants typically train on-the-job, with part-time study towards the professional Associateship exams of the Chartered Insurance Institute.

Employers recruit graduates from a wide range of subjects. Some degrees in Business Studies include insurance options.  

Several introductory and foundation courses on insurance and the financial services are run at Colleges of Further Education throughout the country. These are accredited by FETAC at level 5. Check colleges in your area for more details.

Last Updated:


Further Informationheader image

A detailed description of this occupation can be found on a number of online databases. Follow the link(s) below to access this information:

Note: you will be leaving the CareersPortal Site

Go..Insurance Technician - from:  N.C.S. [UK]
Go..Insurance Underwriter - from:  N.C.S. [UK]
Go..Insurance Underwriter - from:  YouTube Video

Related Occupationsheader image

Contactsheader image

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Organisation: Insurance Ireland
  Address: Insurance House, 39 Molesworth Street, Dublin 2
  Tel: (01) 676 1820
  Email: Click here
  Url Click here

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Organisation: Insurance Institute of Ireland
  Address: Insurance House, 39 Molesworth Street, Dublin 2
  Tel: (01) 677 2582
  Email: Click here
  Url Click here

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Organisation: LIA
  Address: LIA House, 183 Kimmage Road West, Dublin 12
  Tel: 01 - 709 9850
  Email: Click here
  Url Click here

 

Job Search


Career Guidance

This occupation is popular with people who have the following Career Interests...


...and for people who like working in the following Career Sectors:

Banking, Insurance & Financial Services

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