Yo yo see you again with this, perhaps Rober blog friend wondering what the heck the Underwriting and what does it do in insurance? To answer those asked Let’s read together the sense of those words. There are actually two terms often appear in Insurance Underwriting namely or Underwriter.
Underwriting insurance function is responsible for the assessment and classification of risk level that is owned by a prospective insured, as well as decision-making related to the insured risk.
While the Underwriter is a person who performs a function of the risk itself.
How to understand the difference in term 2 already? woke again to the advanced functions. Good underwriting helped insurance companies to compete and have a strong financial condition in which an insurance company profit is mainly determined by the controlling, expenses, pricing the right products and pelaksaaan a logical assessment in conducting the underwriting.
Oh yes there are some risk factors assessed by the medical underwriting for life insurance decision making on the prospective insured
medical risk factors
Family Medical History
Meanwhile outside the medical risk factor there is also the personal risk factors assessed by the underwriting of life insurance
personal risk factors
Alcohol and drug abuse
Moral hazard Moral Hazard or
Indulgence and hobby
Activities – Flight activities
Place of residence abroad