Clean Power Whisperer

Who are the Insurance Underwriters?

Underwriters are insurance professionals who analyze and evaluate the insurability of a particular risk and determine an appropriate price to insure that risk. So, let's focus on partnering with a strong group of underwriters that understand the risks.

How do we assess if they are strong? They tend to have a huge appetite for learning the technical aspects of insurance, industry and overall macro-environment issues related to the business. Underwriters need to be creative as risks do evolve, and part of knowing how to price risk is to adapt quickly and learn often. They need to think long term, not short term. They want to be known as the underwriters with expertise, and not underwriters who offer the cheapest price.

Key Qualities and Skills

Analytical skills

Communication skills

Attention to detail

They tend to be able to analyze large amounts of data and make informed decisions based on that data. They evaluate risk factors and determine the likelihood of claims occurring and price accordingly.

Attention to detail

Communication skills

Attention to detail

They tend to be meticulous and detail-oriented, as they are responsible for ensuring policies are accurately priced and appropriately structured.

Communication skills

Strong communication skills are necessary for underwriters to effectively convey complex information. They tend to be able to explain their decisions and recommendations clearly and concisely, both verbally and in writing.

Industry knowledge

Decision-making ability

Communication skills

They have a deep understanding of the insurance industry, including regulations and market trends.

Decision-making ability

They are able to make informed decisions based on data and analysis. They are also able to balance the needs of the insurance company and the client.

Risk management skills

Decision-making ability

The best underwriters have strong risk management skills and are able to identify potential risks and make suggestions on how to mitigate them.

Bottom Line

In short

Consideration

A great insurance underwriter must be highly analytical, detail-oriented, and have deep understanding of the insurance industry and risk management. They must also possess strong communication and decision-making skills and be able to adapt to both changing market and risk conditions.

Consideration

Underwriters should be viewed as business partners. Let’s recognize that it is a good thing that the insurance companies are willing to take the risks off your balance sheet in exchange for a premium. Underwriters are businesspeople too. They are in the business of taking risks to produce an underwriting profit. So, get yourself educated in the global market landscape so you can set expectations and be reasonable in the asks.

Risk Management & Insurance Considerations for Solar Projects

Who are the Insurance Underwriters?

Key Qualities and Skills

Analytical skills

Communication skills

Attention to detail

Attention to detail

Communication skills

Attention to detail

Communication skills

Communication skills

Communication skills

Industry knowledge

Decision-making ability

Communication skills

Decision-making ability

Decision-making ability

Decision-making ability

Risk management skills

Decision-making ability

Decision-making ability

Bottom Line

In short

Consideration

Consideration

Consideration

Consideration

Consideration

“There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction.”