Insurance Underwriter Test Assessment

Candidates Assessed

17252+

Organizations Served

123+

iMocha’s insurance underwriter test enables recruiters and hiring managers to hire job-fit candidate within a short period & take unbiased decision. This test helps to reduce hiring cost by 45% and Increase interview-to-selection ratio by 62%. Our insurance underwriter online test is helpful for Insurance Companies, Reinsurance Companies and brokers.

About Insurance Underwriter Test Assessment

Insurance underwriters review individual applications for insurance to evaluate a degree of risk involved and determine acceptance of applications. They decide if applications for insurance cover (risks) should be accepted and, if so, what the terms of that acceptance are.

The aim is to minimize losses for their company and help to make a profit. They effectively grow the assigned book of business and develop a market share of profitable business while protecting a company from financial loss through accurate and effective underwriting techniques and methodologies .They provide input/contribute to the establishment of effective underwriting policies and guidelines. Determining risk is a complex process and the job relies on sensible judgment and meticulous attention to detail. The underwriter must ensure that accurate quotes are produced that are competitive to the customer, yet profitable for the company.

Typical duties include:

Examining insurance proposals.
Collecting background information and assessments of risk.
Analyzing statistical data using specialist computer programs.
Writing quotes and negotiating the terms with brokers and clients.
Determining premiums.
Preparing insurance policies terms and conditions.
Liaising with insurance brokers and customers.

KEY SKILLS REQUIRED:

ANALYTICAL SKILLS - Quantitative Aptitude, Abstract Reasoning
GOOD MATH AND STATISTICS SKILLS - Quantitative Aptitude
ATTENTION TO DETAIL.
VERBAL AND WRITTEN COMMUNICATION SKILLS - Verbal Ability
GOOD JUDGEMENT - Logical Reasoning
EXCEPTIONAL CUSTOMER SERVICE AND RELATIONSHIP BUILDING SKILLS - Logical Reasoning
FAMILIARITY WITH BUSINESS PROCESS IMPROVEMENT, TROUBLESHOOTING, AND CREATIVE PROBLEM SOLVING - Quantitative Aptitude
STRONG READING COMPREHENSION AND ANALYSIS SKILLS - Verbal Reasoning
MUST BE HIGHLY DETAIL ORIENTATED WITH ADVANCED ORGANIZATION SKILLS REQUIRED, INCLUDING ABILITY TO MANAGE MANY RESPONSIBILITIES EFFECTIVELY AT ONCE.
PROFICIENT IN MICROSOFT OFFICE SUITE AND INTERNET UTILTIZATION. - MS Word

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Test Summary

VERBAL ABILITY

Verbal ability is essential because grammar and vocabulary is a prerequisite for good spoken and written English.

VERBAL REASONING

Reading comprehension indicates an ability to comprehend and reason with the concepts on a written page.

QUANTITATIVE APTITUDE

Quantitative ability will indicate analytical thinking and problem-solving ability.

LOGICAL REASONING

Logical Reasoning is assessed through

Statement/Conclusion
Cause /Effect and
Statement/Fact questions

These questions will indicate the quality of deductive reasoning and inductive reasoning which contribute to Critical thinking ability.

ABSTRACT REASONING

Abstract reasoning will indicate the ability to think clearly, identify logical patterns, learn new skills and solve complex problems. It is an indicator of fluid intelligence and shows an ability to strategize.

STATISTICS AND PROBABILITY

The topics include chai-square, ANOVA, t-test, variances, confidence intervals, p-values, probability distributions etc.

MS WORD

The questions are on Keyboard shortcuts, Keyboard Combinations, Page orientations, Tables, Charts, formatting, commands.

Test Details: 60 Questions 80 minutes

Verbal Ability - 10 Questions 10 minutes
Verbal Reasoning - 08 Questions 14 minutes
Quantitative Aptitude - 16 Questions 18 minutes
Logical Reasoning - 10 Questions 15 minutes
Abstract Reasoning - 08 Questions 13 minutes
Statistics & Probability - 08 Questions 10 minutes
MS Word - 08 Questions 10 minutes

Test Duration: 22 minutes

No. of Questions: 11

Level of Expertise: Entry/Mid/Expert

Useful for hiring

Insurance companies
Reinsurance companies
Brokers

Topics Covered

Examining insurance proposals

iMocha’s insurance underwriter test helps recruiters and hiring managers to evaluate candidate’s understanding about validating insurance forms to sort out valid forms

Collecting background information and assessments of risk

Our assessment helps to evaluate candidate’s ability to analyze background information before approving insurance form

Analyzing statistical data using specialist computer programs

This test evaluates candidate’s ability to analyze statistical data provided by customer using some tools or computer programs

Writing quotes and negotiating the terms with brokers and clients

This insurance underwriter online test assesses candidate’s ability to negotiate with terms and conditions with broker and client

Determining premiums

Our assessment evaluates candidate’s knowledge about determining premiums for an insurance

Preparing insurance policies terms and conditions

This test helps to evaluate candidate’s ability to prepare insurance policies terms and conditions

Liaising with insurance brokers and customers

Our assessment helps to evaluate candidates' knowledge about liaising with insurance brokers and customers

Sample Report

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Trusted By

Pedro Furtado, Capacity Manager, Altran-Portugal

“Finding quality talent is a challenge more so when you consider the sheer number of resumes we get each year. To top this, the time we spent on our recruitment process was humongous. iMocha helped us to cut down on our candidate filtration time by 40 %, making it our preferred assessment tool.”