Who performs field underwriting?

Field underwriting is a critical step in the insurance application process that takes place at the point of sale, where the insurance producer or agent interacts directly with the client. The role of the producer or agent in field underwriting involves gathering information about the applicant's health, lifestyle, and other relevant risk factors that will affect their insurability and premium costs.

Producers or agents are trained to ask the right questions and assess the information provided by potential clients to determine whether the company should accept the risk. They can also help identify any potential issues that may require additional information or a more detailed review by the home office underwriters.

This process is essential because it helps the insurance company manage its risk more effectively by ensuring that only qualified applicants are admitted into the insurance pool. The nuances and variances in the information collected in the field can greatly influence the underwriting decision. Therefore, the agent’s expertise and personal interaction with clients can be pivotal in accurately assessing an applicant's risk profile.