iMocha’s insurance underwriter test enables recruiters and hiring managers to hire a job-fit candidate quickly and make unbiased decisions. This test helps to reduce hiring costs by 45% and increase the interview-to-selection ratio by 62%. Our insurance underwriter online test is helpful for Insurance Companies, Reinsurance Companies, and brokers.
Insurance underwriters review individual applications for insurance to evaluate the 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 the 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 establishing effective underwriting policies and guidelines. Determining risk is a complex process; 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:
KEY SKILLS REQUIRED:
Verbal ability is essential because grammar and vocabulary are prerequisites for good spoken and written English.
Reading comprehension indicates an ability to comprehend and reason with the concepts on a written page.
Quantitative ability will indicate analytical thinking and problem-solving ability.
Logical reasoning is assessed through
These questions will indicate the quality of deductive and inductive reasoning, contributing to Critical thinking ability.
Abstract reasoning indicates the ability to think, 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.
The questions are about Keyboard shortcuts, Keyboard Combinations, Page orientations, Tables, Charts, formatting, and commands.
Test Details: 60 Questions, 80 minutes