Risk & Underwriting
Underwriting
Definition
The process by which an insurance company evaluates the risk of insuring a person, property, or business and determines whether to offer coverage, at what price, and under what terms.
In Zach’s Words
“Underwriting is the insurance company doing their homework on you. They look at your driving record, your home's age and location, your business type, your claims history — and decide how risky you are. More risk = higher premium (or a polite 'no thanks'). It's basically the insurance company's version of a first date.”
— Zach Nadler, CIO