The subscriber plays a fundamental role in an insurance company, since it is he who decides, on behalf of his company, to take care of a risk or not, and who is responsible for establishing the contract for The account of his client, taking care of using him to cover him against any risk to which he may be exposed.
We will see here what are the duties and responsibilities of the underwriter. We will also see what is its level of training, as well as its salary. Finally, we will focus on describing what are the possible currency developments for a subscriber in insurance.
Role and profile of insurance subscriber
Subscriber In Assurancee Subscriber's role is to analyze and manage the risks that the insurance company is supported for which it works. It is he who has the power to accept or refuse that the assurance company it represents in charge of the risks against which the proposers with whom they treat wish to make sure.
As part of the performance of its duties, the insurance subscriber must first know how to analyze the risks: for this, it must assess the level of the risks that it is submitted to it taking into account their frequency and their average cost. , then, after this evaluation, see if its care is compatible with the company's policy and especially if, in the event of a disaster, the latter would be able to cover it without affecting its economic and financial stability .
Once this phase is completed, and in the event of acceptance of the risk of the risk for which it has been requested, the subscriber must adapt the Company's products to the needs of the customers. It was then that he writes a draft contract, while specifying the warranty conditions and setting the amount of the premium. To establish the terms of the contract, it usually refers to the policy of its establishment, while sometimes before writing particular clauses.
After establishing the contract, the subscriber must then follow up on his clients by analyzing and adapting contracts according to the risks and developments of the insured.
Since it is an expert in its field, the underwriter is often asked to participate in the creation of new insurance products. It is then frequently asked, in this context, to participate in the drafting of information documents.
The subscriber must be able to quickly make decisions, taking into account many parameters, sometimes often contradictory between them. This business also requires a great sense of communication, contact, and organization, a spirit of analysis and synthesis, and at the end of great abilities to resist pressure work. Increasingly, the companies are asking the subscriber to have a perfect command of English, especially when they operate at the international level.
Subscriber training in insurance
Subscriber - Educator training usually has a level of training Bac + 5. He is generally holding a master level diploma in a school specializing in insurance training, possibly dubzing a degree to punish training at a business school or an engineering school.
With regard to master level diplomas in the field of insurance, the "European Master In Assurance: Manager of Insurance", proposed by the School of Insurance (ESA) is particularly suitable for training in this profession , by the high technical level conferred on the students following this training, as well as by its international dimension, since it is accredited by the European body "Eabhes (= European Accreditation Board of Higher Education Schools).
Subscriber's salary in insurance
Subscriber - Salary
A subscriber in assurance can be able to win between 28,000 and 32,000 euros gross a year, knowing that this amount of salary can evolve according to the age and experience of that or the one that exercises this profession.
Subscribers who work in life insurance will also be able to reach a variable commission that will then depend on the number of contracts concluded.
Career evolution
Subscriber - CareerConcerning his career development, two major lanes open to the underwriter in insurance:
→ a "grade climb", by which the responsibilities entrusted to it become more and more important (management of a portfolio of increasingly important contracts, management of a team of subscribers, etc.) or by which It is asked to specialize in specific risks (large companies, construction, environment, space, operating loss, liability, shows ...), in order to be able to manage more and more contracts.
→ An evol
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