Bharti AXA INSURANCE GLOSSARY Underwriting Underwriting a risk means accepting some or all risks associated with an undertaking. Underwriters at an insurance firm evaluate risk exposure of a client, decide the extent of the risk that can be covered and the amount the client must pay as premium to avail the coverage. They are responsible to ensure that insurance policies are issued at a premium that is commensurate with the risks the insurer’s book of business is exposed to. The duties of an underwriter defers from that of an actuary, as the former determines the risk associated with an applicant for a given insurance policy and determines the coverage and premium for that applicant, while the later determines the uncertainties associated with a given event and design insurance policies that would be profitable for the insurer. Key duties of an underwriter involve: Evaluating applications to determine risk Using available software solutions, tools, data etc. to predict the risks that an applicant caries Determining the terms that can be offered to an applicant and at what premium Ensuring that enough applications are approved so as sufficient profits can be made by the insurer. Request Call Back Category * - Select -CarTwo WheelerHealthTravelPersonal Accident Buy Renew Claim submit Related Posts Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.