Question

What is the core responsibility of the core underwriting team in an insurance company?

a.

To maintain MIS of the business received and underwritten

b.

To liaise and make payments to the TPAs for medical tests

c.

To manage and control TPAs and quality-control checks

d.

To develop and implement policies and procedures for the underwriting department

Posted under IC22 Life Insurance Underwriting

Answer: (d).To develop and implement policies and procedures for the underwriting department Explanation:The core underwriting team's main duties and responsibilities include underwriting medical and non-medical proposals in accordance with the guidelines laid down by the insurance company and the regulators, devising underwriting guidelines according to legal and market conditions, and developing and implementing policies and procedures for the underwriting department.

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Q. What is the core responsibility of the core underwriting team in an insurance company?
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