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Insurance Underwriter

Competency-Based Apprenticeship
Sponsoring Company:
CareerWise Colorado
O*Net Code
Rapids Code
Req. Hours
Jul 16, 2021
Jul 16, 2021

Competency-Based Skills

4 skill sets | 28 total skills
Insurance principles and practice
Knows and understands the core principles of insurance and can apply to operations.
Describes what insurance is and what it is used for, the different lines of insurance that are available, what is necessary to acquire insurance, and what can affect different rates and premiums.
Describes the regulatory agencies that affect different lines of insurance.
Describes how different departments work together within the organization.
Applies knowledge of the applicable lines of insurance, organizational roles, and regulatory roles to insurance operations.
Insurance products and services
Understands the range of insurance products and services available in the market and how to meet client needs.
Describes the products and services offered as an industry standard.
Describes the products and services offered that are specific to the organization.
Details the different channels (e.g., agents, walk-ins) for obtaining business.
Identifies the differences between standard and special products and services offered.
Demonstrates an awareness of industry competitors.
Selects applicable standard and special products and services to issue policies and packages.
Provides education on applicable products and services both internally and to clients.
Underwriting process
Documents information in order to underwrite new risks, alterations, renewals and/or cancellations in an accurate and timely manner.
Describes different roles and levels within the underwriting discipline and the products and services offered.
Describes the life of a policy.
Researches and documents facts or information required to evaluate risk.
Assists with underwriting new and renewal business.
Communicates with assigned team members to process policy requests.
Underwrites standard new and renewal business.
Communicates with different departments to process policy requests.
Determines if a policy price is adequate for the potential risk.
Manages an underwriting work flow.
Regulatory Compliance
Adheres to regulatory requirements in all facets of operations.
Describes the role of regulatory agencies and provides examples of their roles for relevant line(s) of insurance.
Demonstrates understanding of business practices and state laws relevant to the industry.
Operates within applicable laws (e.g., Workers’ Compensation), organizational filings, and regulatory filings.
Articulates how different regulatory agencies and organizational functions influence underwriting.

Technical Instruction

CareerWise Apprenticeship Boot Camp - 16 req. hrs
Soft skills development
Workplace etiquette and expectations
Professional communication
Time management
Goal setting
Self-advocacy and emotional intelligence
Money management
Stress management
Supervisor interaction preparation
Growth mindset and training plans
Building strong relationships
Feedback and tough conversations
Workplace conflict
Higher education planning
Linkedin and resume development
Financial planning
Workplace Safety and Ergonomics
CareerWise Professional Development - 8 req. hrs
Managing strengths and weaknesses
Professional communication
Time management
Macroeconomics - 45 req. hrs
Focuses on the study of the national economy, emphasizing business cycles and long-run growth trends. Explores how macroeconomic performance is measured, including Gross Domestic Product and labor market indicators. Examines the saving-investment relationship and its relationship to Aggregate Supply and Aggregate Demand. Discusses money and banking, international trade, fiscal and monetary policy. Explores the macroeconomic role of the public sector.
Microeconomics - 45 req. hrs
Studies the firm, the nature of cost, and how these relate to the economy as a whole. Analyzes economic models of the consumer, perfect competition, monopoly, oligopoly and monopolistic competition. Explores economic issues including market power, population growth, positive and negative externalities, income distribution, poverty and welfare, discrimination, and international economic interdependence.
Business Communication - 45 req. hrs
Emphasizes effective business writing and covers letters, memoranda, reports, application letters, and resumes. Includes the fundamentals of business communication and an introduction to international communication.
Intro to Business - 45 req. hrs
Focuses on the operation of the American business system. Covers fundamentals of the economy, careers and opportunities, marketing, management, production, governmental regulations, tools of business and social responsibilities.

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