INSURANCE UNDERWRITING PROCESS CHECKLIST
Created by ChecklistGuro (https://checklistguro.com)
--- APPLICATION REVIEW & VERIFICATION ---
[ ] Applicant Full Name
[ ] Date of Birth (YYYY)
[ ] Description of Business Operations (if applicable)
[ ] Proof of Identity (e.g., Driver's License, Passport)
[ ] Property Type (if applicable) (Residential, Commercial, Agricultural)
[ ] Application Submission Date
--- RISK ASSESSMENT & ANALYSIS ---
[ ] Applicant's Age
[ ] Property Value (if applicable)
[ ] Industry/Occupation (Construction, Healthcare, Manufacturing, Retail, Technology, Other)
[ ] Relevant Risk Factors (Prior Claims History, Geographic Location (flood zone, earthquake zone), Business Interruption Risk, Cybersecurity Risk, Environmental Hazards)
[ ] Detailed Risk Narrative
[ ] Risk Classification (Low, Medium, High)
--- PROPERTY INSPECTION (IF APPLICABLE) ---
[ ] Property Address Verification
[ ] Square Footage
[ ] Construction Type (Frame, Masonry, Steel, Concrete)
[ ] Year Built
[ ] Observed Conditions (e.g., roof condition, signs of water damage)
[ ] Photos of Property (exterior/interior)
[ ] Compliance with Local Codes? (Yes, No, Not Applicable)
[ ] Inspection Date
--- FINANCIAL ANALYSIS (IF APPLICABLE) ---
[ ] Revenue (Annual)
[ ] Net Profit (Annual)
[ ] Debt-to-Equity Ratio
[ ] Last Financial Statement Date
[ ] Credit Rating (if applicable) (AAA, AA, A, BBB, BB, B, CCC, CC, C, D, Not Rated)
[ ] Financial Statements (PDF/Excel)
[ ] Notes/Comments on Financial Analysis
--- COVERAGE DETERMINATION ---
[ ] Coverage Type (Property, Liability, Commercial Auto, Workers' Compensation, Business Interruption)
[ ] Proposed Coverage Limit
[ ] Deductible Option (None, $1,000, $2,500, $5,000)
[ ] Rationale for Coverage Determination
[ ] Exclusions Considered? (Yes, No)
[ ] Details of any considered exclusions
--- PRICING & PREMIUM CALCULATION ---
[ ] Base Premium Rate
[ ] Risk Factor Adjustment (%)
[ ] Coverage Limit
[ ] Deductible Amount
[ ] Discount Applied (if any) (None, Early Payment, Bundle Discount, Other)
[ ] Discount Amount
[ ] Tax Rate (%)
[ ] Total Premium
--- UNDERWRITING FILE DOCUMENTATION ---
[ ] Summary of Risk Assessment Findings
[ ] Application Form
[ ] Supporting Documentation (e.g., Inspection Reports)
[ ] Risk Score
[ ] Underwriting Decision (Approve, Approve with Conditions, Reject)
[ ] Date of Underwriting Decision
[ ] Underwriter Signature
[ ] Notes/Comments
--- COMPLIANCE AND LEGAL REVIEW ---
[ ] Reviewed for E&O Insurance Requirements? (Yes, No, N/A)
[ ] Compliance with State Regulations? (Yes, No, Review Required)
[ ] Date of Legal Review
[ ] Summary of Legal Review Findings
[ ] Legal Review Documentation (if applicable)
[ ] Privacy Policy Compliance Verified? (Yes, No)
--- POLICY ISSUANCE & APPROVAL ---
[ ] Policy Approval Status (Approved, Rejected, Pending Review)
[ ] Policy Number
[ ] Issue Date
[ ] Underwriter Signature
[ ] Approval Comments (if applicable)
[ ] Policy Type (Homeowners, Auto, Commercial)
--- RECORD KEEPING & ARCHIVING ---
[ ] Date of Record Creation
[ ] Summary of Archiving Process
[ ] File Identifier/Reference Number
[ ] Storage Medium (Physical/Digital) (Physical, Digital)
[ ] Location Details (if physical)
[ ] Proof of Archival (e.g., screenshot of digital archive)
[ ] Date of Last Access/Review
--- END OF TEMPLATE ---
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