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Underwriter Interview Questions

"Insurance companies depend on underwriters to review insurance applications and determine whether they qualify for acceptance. Employers are looking to hire candidates with strong analytical and organizational skills and experience with computer software. In an interview context, expect to answer technical questions such as evaluating risk as well as behavioral questions that will assess your ability to work on a team and resolve difficult problems. To test your quantitative skills, an interviewer may through in a brain teaser."

Top Underwriter Interview Questions & How To Answer

Question 1

Question #1: When reviewing a claim, what factors could determine a higher risk level?

How to answer
How to answer: As an underwriter, you're responsible for ensuring that all claims, loans, and/or policies have a low level of risk to protect the interest of the individual or company issuing payment, funds, or coverage. When you answer this question, talk about the process you follow to assess the potential risk of each individual item you review. Include manual review processes and any AI- or computer-driven review processes.
Question 2

Question #2: Have you ever disagreed with another party involved in a claim or policy review?

How to answer
How to answer: Underwriters work with various individuals in the underwriting and review process, so they might disagree with one or more of those individuals. This question allows you to demonstrate your problem-solving and communication skills when you encounter conflict. As you answer, describe a specific situation with the STAR method: Situation, Action, Task, Result.
Question 3

Question #3: How do you manage multiple claims or requests?

How to answer
How to answer: An underwriter often works on multiple claims at once, so they need strong organizational and prioritization skills. In your answer to this question, you can outline any specific tools or processes you use when managing multiple requests, as well as how you manage deadlines and timelines. Since underwriters often have to submit their responses to requests within a certain timeline, it's important to have good time management skills.

4,409 underwriter interview questions shared by candidates

Tt was mix of technical questions & real time case scenarios questions. First they both discussed my work experience, my strengths, weaknesses, how I handle pressure in terms of dealing customer and employee conflict at office. Customer Name: Joe Bloggs Occupation: Cleaner Income: €300 per week Residential Status : Tenant Vehicle: 2020 Volkswagen Caddy Finance details: €9,000 @ 60 Months, 100% Finance Repayments: €160.00 Per month Details: The customer has sent bank statements with the proposal as he has never borrowed before, these show very low balances and the application is declined. The account manager for the area has appealed the proposal on the basis that the customer is well known to the dealership, the dealer principal is personally recommending the customer and has asked that you call him to discuss the customers options. Please outline the points you would discuss with the dealer principal and what other information, if any, might help to review the proposal further. Customer Name: Carpenter Ltd Occupation: Carpentry Company Income: Turnover €1,000,000 in last year Vehicle: New VW Passat Finance details: €32,000 30% Deposit, 60 Month term Details: The company have never missed any payments on previous borrowings. The latest set of accounts show a turnover €1,000,000 and the balance sheet reflects that the company is insolvent. The dealership has entered a note into the proposal stating that the company have just completed work on a New VW Showroom, and the director is a personal friend of the sales man in the dealership. The account manager for the area has phoned you also to state that the proposal has to be approved as it has been approved with two competitor banks and the dealership needs this proposal to hit their targets for the month. Please outline the underwriting decision, your thought process, and the reasons for this. Customer Name: Mary Burke Occupation: Retired Residential Status: Home Owner Income: €15k per annum pension and widows pension. Vehicle: New Golf Finance details: €24,000 50% Equity, Balance finance €12k @ 24 month term. Repayments: €500 per month Mary has no previous borrowings, her previous vehicle was bought from savings, 30% of the equity in this proposal is from savings. Please outline your underwriting decision and the reasons for this. Only Challenege could be the Income per month. Co-Applicant could be requested for this. Customer Name: James O’Connor, 22 Occupation: Civil Servant Residential Status: Living with Parents Income: €25k per annum Vehicle: New Golf GTI Finance details: €35k over 60 months, 2k equity from trade in. Repayments: €600 per month James has borrowed previously with the credit union, and has a small amount of savings. He is on a temporary contract with his employer but hopes to be made permanent at the end of the year. The dealership has called to discuss the proposal with you, stating that the customer and family are well known to them, they recommend approval and will stand over the debt should anything happen. The dealer has said that if this proposal can be pushed over the line, he will reach his Golf targets for the year and will ensure that 5 proposals already approved with VW bank and other competitor banks, will definitely be given to VW Bank. Please outline the points you would discuss with the dealer, and your final decision.
avatar

Senior Underwriter

Interviewed at Volkswagen Financial Services

3.7★
Feb 12, 2023

Tt was mix of technical questions & real time case scenarios questions. First they both discussed my work experience, my strengths, weaknesses, how I handle pressure in terms of dealing customer and employee conflict at office. Customer Name: Joe Bloggs Occupation: Cleaner Income: €300 per week Residential Status : Tenant Vehicle: 2020 Volkswagen Caddy Finance details: €9,000 @ 60 Months, 100% Finance Repayments: €160.00 Per month Details: The customer has sent bank statements with the proposal as he has never borrowed before, these show very low balances and the application is declined. The account manager for the area has appealed the proposal on the basis that the customer is well known to the dealership, the dealer principal is personally recommending the customer and has asked that you call him to discuss the customers options. Please outline the points you would discuss with the dealer principal and what other information, if any, might help to review the proposal further. Customer Name: Carpenter Ltd Occupation: Carpentry Company Income: Turnover €1,000,000 in last year Vehicle: New VW Passat Finance details: €32,000 30% Deposit, 60 Month term Details: The company have never missed any payments on previous borrowings. The latest set of accounts show a turnover €1,000,000 and the balance sheet reflects that the company is insolvent. The dealership has entered a note into the proposal stating that the company have just completed work on a New VW Showroom, and the director is a personal friend of the sales man in the dealership. The account manager for the area has phoned you also to state that the proposal has to be approved as it has been approved with two competitor banks and the dealership needs this proposal to hit their targets for the month. Please outline the underwriting decision, your thought process, and the reasons for this. Customer Name: Mary Burke Occupation: Retired Residential Status: Home Owner Income: €15k per annum pension and widows pension. Vehicle: New Golf Finance details: €24,000 50% Equity, Balance finance €12k @ 24 month term. Repayments: €500 per month Mary has no previous borrowings, her previous vehicle was bought from savings, 30% of the equity in this proposal is from savings. Please outline your underwriting decision and the reasons for this. Only Challenege could be the Income per month. Co-Applicant could be requested for this. Customer Name: James O’Connor, 22 Occupation: Civil Servant Residential Status: Living with Parents Income: €25k per annum Vehicle: New Golf GTI Finance details: €35k over 60 months, 2k equity from trade in. Repayments: €600 per month James has borrowed previously with the credit union, and has a small amount of savings. He is on a temporary contract with his employer but hopes to be made permanent at the end of the year. The dealership has called to discuss the proposal with you, stating that the customer and family are well known to them, they recommend approval and will stand over the debt should anything happen. The dealer has said that if this proposal can be pushed over the line, he will reach his Golf targets for the year and will ensure that 5 proposals already approved with VW bank and other competitor banks, will definitely be given to VW Bank. Please outline the points you would discuss with the dealer, and your final decision.

The most unexpected thing was that no personal questions were asked. It was basically a skills assessment to figure out what you know and how much you know. Most questions were how to calculate capital gains income, how would you review a profit and loss statement for the last 3 years, how many years do you need to be receiving child support income to use it for qualified income, etc.
avatar

Senior Underwriter

Interviewed at PHH Mortgage

3★
Oct 1, 2012

The most unexpected thing was that no personal questions were asked. It was basically a skills assessment to figure out what you know and how much you know. Most questions were how to calculate capital gains income, how would you review a profit and loss statement for the last 3 years, how many years do you need to be receiving child support income to use it for qualified income, etc.

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