Underwriter & Underwriting

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Underwriter & Underwriting An underwriter is a person who identifies, examines, and classifies the degree of risk represented to the insurers' business by a proposed insured in order to determine whether or not coverage should be provided and, if so, at what rate. Professional underwriters review the criteria on your application to see if it's possible to offer you a policy and, if so, how much coverage you're eligible for. Then, they set your monthly premium based on the information. Underwriting is the process by which an insurance company examines risk and determines whether the insurer will accept the risk or not, classifies those accepted and determines the appropriate rate for coverage provided. Underwriting is the process of assessing the amount of risk you present to a potential insurer. It determines how much a client should pay for it and whether or not to offer an insurance policy to the client in the first place. Underwriting helps to set fair rates, establish appropriate premiums, and create a market for securities by accurately pricing investment risk. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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