Underwriter

Underwriters are the foundation of the insurance process by evaluating insurance applications; determining coverage amounts and premium prices. Federated’s profitability depends on selecting and pricing business properly. Underwriters work closely with sales, claims, and risk management departments, who also have a role in the underwriters’ efforts to make sound business decisions. As an Underwriter, you will:

  • Gather and analyze information about a client’s or prospect’s business operations, history, and location
  • Alongside colleagues, decide what products and services the business needs
  • Decide how much premium must be charged to cover the risk of insuring the business
  • Offer risk management solutions designed to help the business operate safely and profitably
  • Become an expert in the political landscape, legal climate, demographics, economy, environment, and competitiveness of your territory
  • Periodically travel to your territory to gain additional knowledge and work directly with clients and prospects
  • Use exceptional communication skills to build relationships with colleagues and clients

Underwriting Training Program

Federated provides twenty weeks of paid classroom and hands-on training designed to teach you the fundamentals of underwriting. This training program is an investment in you. Federated bears the cost of all training materials. You provide the energy and the commitment to learning.

Phase I: Orientation/Basic Seminar (4 Weeks)

Your training begins by building a foundation of the insurance industry and company knowledge. You will be joined by fellow underwriters while developing an understanding of insurance and risk management.

Phase II: Technical Training (11 Weeks)

Your exploration into the world of insurance continues with an emphasis on underwriting. You will learn about a variety of insurance concepts, including acceptability, pricing, risk management, and programming. You will come to understand how different pieces of the insurance industry fit together.

Each week, you will spend one day in the classroom learning about a specific type of business and one major process. Then you will return to your team for hands-on practice with assistance from your manager and other team members.

Phase III: Practical Application (5 Weeks)

In Phase III, you apply the knowledge, skills, and behaviors you’ve learned in preceding weeks. You are assigned to a team and a mentor and begin working on real-life situations under the direction of your manager. Before long, you’ll begin working directly with clients and prospects in your own territory.

Advancement Opportunities

You can progress in your career through a series of underwriting positions. You also have opportunities to move into training, field, analyst, and management roles. Federated encourages promotion from within, creating opportunities for employees to grow and develop. Your advancement options will be based on your interests, your performance, and Federated’s business needs.

Positions available in the underwriting pathways include commercial underwriter I, II, III; learning center trainer, field commercial underwriter, special accounts underwriter, training manager, process manager, business analyst, home office product analyst, home office product manager, regional underwriting manager.

“I love that, as an underwriter, my performance has a measurable impact on the company's results. The insurance industry is characterized by uncertainty and change. It feels good to work for a company with a conservative and deliberate financial strategy.”

Al
Field Commercial Underwriter