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Selecting or rating perils for insurance purposes. Underwriting activiti= es include (but not limited to):
Portfolio management and performance monitoring (clients / c= rops / risks)
Insurance Company=E2=80=99s crop/risk portfolio is managed by insurance = underwriters. Underwriters maintain and develop their portfolio of clients,= crops and risk in the given country or region based on the strategic goals= and business KPIs of the company.
Risk acceptance (assessment)
Risk acceptance is the main function of an underwriter. It is the task o= f an underwriter assess the client=E2=80=99s property (crop) insurability p= rior to signing the insurance policy paperwork providing insurance coverage= .
Client / Crop / Risks analysis
Each crop/risk brought by the client for insurance requires proper analy= sis for insurability and price match for the client profile and defined ris= k zone for crop location. Underwriter decides on the final premium rate/sum= , based on guidelines and applicable underwriting limit for approval of ris= k portfolio for insurance. Variety of factors may influence the increase or= decrease of the final premium rate for the farmer=E2=80=99s policy: locati= on in specific risk zone, agricultural technology adherence, available faci= lities and infrastructure (e.g.: irrigation), etc.
Products=E2=80=99 conditions, pricing and coverage options r= eviews
It is one of the key functions of an underwriter to conduct product revi= ew after each season. Based on the review, the premium rates adjustments ma= y be applied, or insurance coverage options may be modified. Proper modific= ations should be based on the product=E2=80=99s performance in past seasons= .
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