Describe a time when you had to handle a high volume of underwriting tasks.

Underwriting Assistant Interview Questions

Sample answer to the question

In my previous role as an Underwriting Assistant, I had to handle a high volume of underwriting tasks on a daily basis. One particular time that stands out was when our team received a large influx of insurance applications due to a marketing campaign. I had to review and process these applications for completeness and accuracy within strict deadlines. To manage the high volume, I created a system to prioritize tasks based on their urgency and importance. I also utilized underwriting software to input data and determine risk assessments quickly. Additionally, I collaborated with the underwriters to gather any missing information and resolve any discrepancies. Despite the increased workload, I was able to keep up with the demand and ensure that all applications were processed accurately and efficiently.

A more solid answer

In my previous role as an Underwriting Assistant, I faced a significant increase in underwriting tasks when our company launched a new product line. To handle the high volume, I devised a meticulous workflow system that prioritized tasks based on their urgency and complexity. I utilized my strong analytical thinking and problem-solving abilities to quickly review and process insurance applications for completeness and accuracy. I also leveraged my proficient data entry skills and knowledge of underwriting software to input and manage large amounts of data efficiently. Additionally, I collaborated closely with the underwriters, agents, and clients to gather any missing information or resolve discrepancies. I ensured the confidentiality of sensitive information by following strict protocols and handling documents with discretion. Despite the challenging workload, I was able to consistently meet deadlines and maintain a high level of accuracy in my work.

Why this is a more solid answer:

The solid answer expands on the basic answer by providing specific details about the candidate's analytical thinking and problem-solving abilities, administrative and organizational skills, ability to work independently and as part of a team, proficiency in data entry and managing databases, and ability to handle confidential information with discretion. The candidate describes their workflow system, knowledge of underwriting software, and collaboration with colleagues and clients. However, the answer could still be improved by providing more specific examples of the candidate's accomplishments and the impact of their work.

An exceptional answer

During my time as an Underwriting Assistant, I encountered a significant increase in underwriting tasks when our company merged with another insurance firm. The volume of work was overwhelming, but I proactively took charge of the situation by implementing an automated data entry system. I collaborated with our IT department to develop a custom database that streamlined the process of inputting and managing large amounts of client information. This not only reduced the time required for data entry but also improved the accuracy and integrity of our underwriting records. Additionally, I utilized my strong analytical thinking and problem-solving abilities to assess the risk of complex insurance applications accurately. I developed a set of criteria and scoring metrics to evaluate each application objectively. This enabled me to prioritize high-risk cases and allocate resources effectively. Throughout this period, I effectively communicated with the underwriters, agents, and clients to gather any missing information or resolve discrepancies. I also maintained strict confidentiality by diligently following data protection protocols and handling sensitive information with discretion. Despite the immense workload, my efforts resulted in a 30% reduction in processing time and a 15% increase in overall productivity.

Why this is an exceptional answer:

The exceptional answer goes beyond the solid answer by providing specific and quantifiable achievements. The candidate demonstrates their ability to proactively handle a high volume of underwriting tasks by implementing an automated data entry system and collaborating with other departments. They also showcase their strong analytical thinking and problem-solving abilities by developing a set of criteria and scoring metrics to evaluate applications objectively. The candidate highlights the impact of their work by mentioning the reduction in processing time and increase in productivity. This exceptional answer effectively addresses all the evaluation areas and provides concrete examples of the candidate's skills and accomplishments.

How to prepare for this question

Familiarize yourself with underwriting processes and the insurance industry to demonstrate your strong understanding of the field.
Highlight your experience with data entry and managing databases, emphasizing your proficiency in using underwriting software and the Microsoft Office Suite.
Prepare examples of how you have handled high volumes of tasks and implemented systems or workflows to manage them efficiently.
Discuss instances where you have collaborated with underwriters, agents, and clients to gather information or resolve discrepancies.
Emphasize your attention to detail, ability to work independently and as part of a team, and your commitment to maintaining confidentiality when handling sensitive information.

What interviewers are evaluating

Analytical thinking and problem-solving abilities
Strong administrative and organizational skills
Ability to work independently and as part of a team
Proficient in data entry and managing databases
Ability to handle confidential information with discretion