Best underwriting training programs?
Is this self-explanatory that the bigger the insurance company the bigger or better the underwriting training?
Also, from a novice perspective, I understand there is alot of math involved. How strong does a person have to be in math to start in underwriting, then to succeed. Thank you for answering!
Basic to intermediate algebra skills should be adequate. An understanding of statistics would also be helpful. I don't know which country you are writing from but in the States, most insurance companies have basic underwriting training for their entry level positions. More often than not, underwriting has become an automated process driven by what actuaries have formulated.
No, that's not necessarily true, regarding the bigger companies. A lot of times the bigger companies give you the "surface" training, and the smaller companies take more time to personalize it so you get a better, concrete understanding. Also, the bigger companies tend to niche you more, so your training will be more narrow in scope.
Regarding the math issue, you must be able to manually rate risks, without a calculater, accurately. It's mostly basic addition, subtraction, and multiplication, HOWEVER, you also must be able to interpolate - which is basic algebra. You must be able to read a balance sheet, to analyze a client's financial strength, and you must be able to analyze loss runs to identify claim trends.
Answers:
what kind of Underwriting are we talking about? Home insurance, Motor insurance, LIfe assurance etc etc?
I wouldnt say you have to amazing at maths well im not and i manage working fine for Zurich Insurance