Most commonly reported Work Activities

• Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
• Making Decisions and Solving Problems Analysing information and evaluating results to choose the best solution and solve problems.
• Analysing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Processing Information Compiling, coding, categorising, calculating, tabulating, auditing, or verifying information or data.
• Communicating with Persons Outside Organisation Communicating with people outside the organisation, representing the organisation to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
• Organising, Planning, and Prioritising Work Developing specific goals and plans to prioritise, organise, and accomplish your work.
• Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
• Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

The Work

Technical Underwriters evaluate risks and decide whether to provide insurance cover for these risks and on what basis.

Techncial underwriters gain as much material information as possible about the risks they need to insure. They do this through fact-finding, including having customers complete proposal forms, carrying out risk assessments, knowledge gained of similar trades and businesses and studying any past claims/incidents. They then price the risk using knowledge of the business, company rate guides or actuarial support and then they decide on policy wordings including terms and conditions.

Most commonly reported Work Tasks

• Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
• Decline excessive risks.
• Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
• Evaluate possibility of losses due to catastrophe or excessive insurance.
• Review company records to determine amount of insurance in force on single risk or group of closely related risks.
• Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
• Authorise reinsurance of policy when risk is high.

Further Information

• Underwriter - Insurance (Technical) - from: N.C.S. [UK]
• Underwriter - Insurance (Technical) - from: N.C.S. [UK]

This occupation is typically suited for people with the following Career Interests:

Administrative

Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.

They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.

Investigative

The Investigative person will usually find a particular area of science to be of interest. They are inclined toward intellectual and analytical activities and enjoy observation and theory. They may prefer thought to action, and enjoy the challenge of solving problems with sophiscticated technology. These types prefer mentally stimulating environments and often pay close attention to developments in their chosen field.

Enterprising

Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.

Career progression in this job role includes Senior Underwriter and Head of Underwriting.

Training & Development

FET Centre Traineeship: Business & Office Admin, Supervisory Management in centres around Ireland NFQ Level 5-6 Search FET Courses

FET Centre PLC courses Business administration & Financial services, Accounting and Insurance (Pre-Apprenticeship), Banking, Insurance and Financial Services - Pre-Apprenticeship, Business with Insurance, e-Business Studies with Banking and Insurance at NFQ Level 5 search FET PLC Courses

Apprenticeship Insurance Apprenticeship programmes NFQ level 6-8 Search apprenticeships

Insurance brokers may study for the professional examinations of the Chartered Insurance Institute or the Chartered Institute of Loss Adjusters.

Employers also recruit graduates from a wide range of academic subjects. A degree many disciplines is acceptable though risk management, insurance or subjects with insurance or financial options are preferred. Business Studies Administration, Economics, Statistics, Computing and law can provide useful background knowledge.  

Post Graduate Study Options Insurance - Life & General - for Data Scientists, Risk Management & Insurance at NFQ level 9

Professional Development

If you want to progress into management it is usually necessary to pass the Associateship examination of the Chartered Insurance Institute (CII).

The CII also offers training leading to an Insurance Foundation Certificate a Diploma of Insurance Practice and an Advanced Diploma in Insurance. The representative body for the CII in Ireland is The Insurance Institute of Ireland which also offers additional Irish law and practice focussed programs alongside the Associateship.

Last Updated: April, 2023

Salary Range (thousands per year)* €35k - €80k

Salaries vary based on employer, location, experience, duties, and role.

Data Source(s):
CPL / Morgan McKinley / Sigmar/ Lincoln/ Indeed/ Clark

Last Updated: July, 2024

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.

View Salary information from Indeed.ie
Note: data not aways available

This information has been derived from the Solas National Skills Bulletin (2023).

Employment levels have grown annually since 2018, with particularly strong growth between 2021 and 2022 of an additional 5,500 persons. Almost all employment is concentrated in the financial activities sector. The share of non-Irish citizens employed, at 23%, was above the national average of 19% and was the highest share across the business/financial occupations.

The CSO Census data for 2022 shows that finance and investment analysts/advisers account for the largest share of employment in this group at over 70%, with insurance underwriters and brokers making up the remainder. Employment permits issued primarily related to various financial analyst roles in the financial sector. Although employment grew strongly in 2022, a 20% fall in online job adverts (particularly for finance/investment analysts) would signal that this growth rate may slow.

• Insurance Ireland

  • Insurance Centre, 5 Harbourmaster Place, IFSC, Dublin 1, D01 E7E8
  • (01) 676 1820
  • [email protected]
  • Click Here

• Insurance Institute of Ireland

  • Insurance Centre, 5 Harbourmaster Place, IFSC, Dublin 1, D01 E7E8
  • (01) 645 6600
  • [email protected]
  • Click Here

• LIA

  • LIA House, 183 Kimmage Road West, Dublin 12
  • 01 - 456 3890
  • [email protected]
  • Click Here