A medical underwriter works for medical companies and evaluates potential customers to ensure that the company makes profit by providing medical cover to the customers. Individuals who file for health or life insurance need to be approved by the medical underwriter. Medical underwriting is a complex process in which the underwriters evaluate the health status of the applicants; their health history is examined to see if they have any existing long term illnesses. Before granting medical insurance, the applicant has to undergo several tests.
These tests are examined by medical agents to see if the company he is working for will not be at a loss by providing for medical cover to that applicant. This is done because people who have a history of illness are more prone to getting sick again, and so people with bad medical histories may be rejected. Also, at times, old age people are not granted insurance because they fall ill often. All these decisions are taken by a medical underwriter.
As an effective medical underwriter, you need to have some medical knowledge, like knowing the human body, and other things. If you have specialized in a medical field, or area having to do with health it will help you greatly if you decide to become a medical underwriter. Not only because you will have that knowledge to help you with your job, but also because insurance companies will search for employers with those specialties.
In order to be a medical agent you must possess many skills. Among those that you must have are you must have superior analytical skills. Every now and then, you have to make important decisions that may affect the company so you must have good decision making skills. You also need to have good knowledge of human anatomy so that you can analyze the reports and medical history of the applicants. You can work on your own or work with an agency as a team. Superior verbal and written communication skills are expected. You cannot have a cold personality and not let your emotions come in way of decision making as you might come across a situation where you have to reject the plea of an applicant. Also, great computer knowledge will also be in your favor.
There are various levels of jobs that you can avail like dental insurance underwriter; corporate insurance underwriter; medical case manager; insurance sales representative; and insurance recruiter. Medical underwriting is an integral part for any insurance companies. No insurance company can do without a medical underwriter. The opportunities are huge.
Salary: depends on your work experience and expertise. In general, it is around $45,000 to $50,000 annually. Top level underwriters earn as high as $100,000 annually.