Jobs in Medical Underwriting

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As we go through life, we rarely think of the potential for diseases, genetic or otherwise, we might eventually obtain. We hardly ever think about how we are going to die, or for that matter, or how long we have to live. Medical jobs, specifically underwriting positions do just that. Medical underwriting positions require that you look into a person's life background and determine the risks of insuring that person.

If you aren’t afraid to apply a cost/benefit analysis to insuring a person’s future, then you may find great value in medical jobs that include underwriting positions. The success of your employer would depend upon how well you can correlate a persons medical and genetic history down to the details of their last dental visit and whether or not you can recommend that person for the duration of the insurance plan.

Medical jobs, specifically underwriting positions, would require that you work directly for an insurance company issuing the insurance plan or a company that specializes in underwriting. An underwriting position would require you to look at either individual policies or group policies where you would assess the overall risks of a group of individuals and set plan premiums based on your findings. You may also be required to talk to employer representatives about their plans.

It all comes down to using your analytical mind to manage risk. With advances in technology, you might be required to do much of your work with ''smart'' applications that essentially help to manage risk and set policy costs. Many insurance companies and hospitals have online systems where you would need to upload or input your findings for quick and easy access to policy information.

Underwriting jobs require various amounts of qualification and training, which might prove a challenge for anyone looking at underwriting positions. Even for entry-level underwriting positions, hiring companies look for candidates with college degrees in business administration, accounting, or some other financial field of study. In some cases, a general degree is fine as long as the person shows promise and is willing to come in as an assistant underwriter or underwriter trainee. Underwriting jobs as trainees or assistance might require work on collecting information or verifying routine applications usually under the watchful eye of a senior underwriter. Over time, it is quite possible that the trainee can vie for more challenging policy applications that have a greater degree of risk.

Because medical jobs with a focus on underwriting positions are highly tied into computer networks and databases, intermediate to advanced computer skills are required. There aren’t many underwriters who work strictly on paper, and even policies filled out on paper by a client are scanned into the system and electronically filed. It would be wise to become familiar with the various databases insurance companies use to better your chances at finding underwriting jobs.

For the most part, medical jobs with a focus on underwriting positions have working conditions that are generally pleasant and safe. If you have an underwriting position, you would work for a company in their home or regional office but might occasionally be required to travel for meetings with employer representatives or other clients. There is the possibility of traveling for as underwriting software and analysis programs are constantly changing and adding new features. If you are looking for a pleasant office environment to work in, then searching for an underwriting position should be on your list for potential career choices.

Your prospects at medical jobs, specifically underwriting positions, should be great depending on how diversified your education and training is. The maximum growth in underwriting jobs will be in the areas of new subsets of medical jobs. While writing is certainly important, having a bachelor’s degree and some related associates degree in the fields of finance, law or business will greatly enhance your chances at underwriting jobs in the medical industry. New subsets, such as the long term care underwriting, should afford more opportunities for those looking for underwriting positions in the medical industry. Overall, employment for underwriting jobs is expected to improve by 6% through 2016 which is generally slower than average compared to all other occupations. The needs of a growing population expand, so should the need for medical jobs with a focus on underwriting positions.

Because of the wide range of possible companies to work for and the amount of underwriting positions available, the salary for these can be varied as well. As a trainee or underwriting assistant, you may expect to make around $32,000, but as an experienced senior underwriter you can easily make $90,000 plus per year. At the same time, benefits provided by insurance companies for underwriting positions carry some of the best benefits of any industry, complete with salary benefits and paid training.

Finding medical jobs with a focus on underwriting positions is not easy. It is a challenging field that requires a solid education and highly analytical mind. For the most part, it comes down to how well you can predict a person or group’s medical future and assess the risk involved with issuing a policy based on your findings. That alone is a unique and exciting part of the job, and could be something to look forward to for you. And aside from the benefits and salary of underwriting positions, you’ll have the education and experience to pursue any other field that is considered a branch of the underwriting industry. All in all a win-win situation for you should you take up this interesting field of work!
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