Question

Who amongst the following persons/teams is responsible for underwriting medical and non-medical proposals according to the guidelines laid down by the insurance company and the regulators?

a.

The CMO

b.

Underwriting support team

c.

Core underwriting team

d.

Medical team

Posted under IC22 Life Insurance Underwriting

Answer: (c).Core underwriting team Explanation:The core underwriting team is responsible for underwriting medical and non-medical proposals according to the guidelines laid down by the insurance company and regulators. The underwriting support team manages and controls the administration of various activities and sub-activities other than underwriting. The CMO or Chief Medical Officer is responsible for providing medical expertise and guidance to the underwriters. The medical team may assist the underwriters in assessing the medical risks associated with a proposal, but the core underwriting team ultimately makes the underwriting decision.

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