Underwriters evaluate an entity's financial status and make important decisions such as taking up loans and signing contracts.
Underwriter Job Description
- Develop pricing models, structures and product features.
- Analyse market data and competitor trends to ensure our products remain competitive and financially sound.
- Establish and maintain good relationships with customers as well as with brokers and other distribution partners.
- Monitor underwriting market trends, competitor pricing and their developments.
- Perform underwriting evaluation of the client's life and health care.
- Review and improve current underwriting processes, policy coverage and terms.
Note
Clients submit financial records to Loan Officers or Underwriters before borrowing. Underwriters often complete assessments more quickly, serving as time savers for clients!
What you should know about Underwriter jobs in Singapore
Nature of Work
Loan Officers represent moneylenders, while Underwriters work independently, often completing assessments faster and saving time for clients!Key Advice
You have to keep up with changing regulations and policies which are relevant to the industry. These regulations can affect company evaluations.-
Entry RequirementsEntry Requirements
- A diploma or bachelor’s degree is needed. There is a preference for Business Administration, Finance and Accounting degrees in this role. Other accepted degrees are Statistics, Economics or Engineering.
- Seek out internships or entry-level positions that allow you to gain experience in the industry.
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Possible PathwayPossible Pathway
Skills you need to pursue an Underwriter career in Singapore
Hard Skills
Statistical Skills
Proficiency in understanding and interpreting statistical data to assess risks accurately.Familiarity with financial modelling software
Competence in using software tools for financial analysis and modelling.Data Analytics
Ability to analyse and interpret complex data to make informed decisions.
Soft Skills
Communication
Strong verbal and written communication skills for clear and effective interactions with clients and colleagues.Innovative Problem-Solving
Creativity in addressing challenges and developing unique solutions.Sense-Making
Ability to make sense of complex information and trends to inform decision-making.Related Job Roles
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