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Glossary U

Ultimate loss estimate

The estimated total amount of losses that an insurance company will incur from a particular event or set of events.

  1. Actuary: Reserving Vs Pricing Roles (Clarified)

Umbrella Policies

A type of insurance policy that provides additional liability coverage beyond the limits of other policies.

  1. Actuary: Personal Lines Vs Commercial Lines (Unpacked)

Uncertainty of income

The risk that an individual or entity may experience fluctuations in income.

  1. Actuary: Full-Time Vs Contract Work (Explained)

Uncertainty quantification

  1. Actuary: Catastrophe Modeling Vs. Traditional (Compared)

Underwriter

An individual who evaluates insurance applications and makes decisions regarding whether to accept or reject them.

  1. Actuary Vs Underwriter: Roles in Insurance (Explained)
  2. Actuary Vs. Underwriter: Which Career Offers Better Job Security?
  3. Actuary: Catastrophe Modeling Vs. Traditional (Compared)
  4. Property Vs. Casualty: Actuarial Fields (Compared)
  5. Risk Management Vs. Actuarial: Career Paths (Defined)
  6. Actuary: Auto Insurance Vs Health Insurance (Explained)
  7. Actuary: Personal Lines Vs Commercial Lines (Unpacked)
  8. Health Vs Life: Actuarial Specialties (Decoded)
  9. Actuarial: Annuities Vs. Life Insurance Roles (Decoded)
  10. Actuary: Insurance Vs Financial Services (Explained)
  11. Actuary: Predictive Modeling Vs Traditional (Unpacked)
  12. Actuary: Reinsurance Vs Direct Insurance (Explained)
  13. Actuary: Small Firm Vs. Large Corporation (Unpacked)
  14. Actuary Vs Statistician: Job Differences (Clarified)
  15. Life Vs Non-Life: Actuarial Practice (Compared)
  16. What Training Do I Need To Become An Actuary? (10 Important Questions Answered)

Underwriting

The process of evaluating and accepting or rejecting insurance applications.

  1. Actuary: Personal Lines Vs Commercial Lines (Unpacked)
  2. Life Vs Non-Life: Actuarial Practice (Compared)
  3. Actuary: Reinsurance Vs Direct Insurance (Explained)
  4. Actuary: Auto Insurance Vs Health Insurance (Explained)
  5. Actuary Vs. Underwriter: Which Career Offers Better Job Security?
  6. Actuary Vs Underwriter: Roles in Insurance (Explained)
  7. Actuarial: Annuities Vs. Life Insurance Roles (Decoded)
  8. Actuary: Catastrophe Modeling Vs. Traditional (Compared)
  9. Actuary: Consulting Vs Corporate Roles (Compared)
  10. Actuary: Reserving Vs Pricing Roles (Clarified)
  11. Property Vs. Casualty: Actuarial Fields (Compared)
  12. Actuary Vs Data Analyst: Similarities and Differences (Clarified)
  13. SOA Vs. CAS: Actuarial Certifications (Decoded)
  14. Risk Management Vs. Actuarial: Career Paths (Defined)
  15. Actuary: Risk Assessment Vs. Risk Management (Clarified)
  16. Actuary: Insurance Vs Financial Services (Explained)
  17. Actuary: Traditional Vs Non-Traditional Roles (Unpacked)
  18. Actuary: Predictive Modeling Vs Traditional (Unpacked)
  19. Actuarial Technician Vs Actuary: Roles (Decoded)
  20. Product Development Vs Pricing: Actuarial Roles (Compared)
  21. Actuarial Science Vs Statistics: Degree Choices (Defined)
  22. 5 Ways Actuaries Use Data Visualization To Solve Real-World Problems

Underwriting Analysis

The process of evaluating the risk of insuring a particular individual or entity.

  1. Actuary: Personal Lines Vs Commercial Lines (Unpacked)

Underwriting decision making

The process of evaluating insurance applications and making decisions regarding whether to accept or reject them.

  1. Actuary: Predictive Modeling Vs Traditional (Unpacked)

Underwriting decisions

The decisions made by insurance companies regarding whether to accept or reject insurance applications.

  1. Actuary: Reinsurance Vs Direct Insurance (Explained)
  2. Actuary: Catastrophe Modeling Vs. Traditional (Compared)
  3. Actuarial Science Vs Statistics: Degree Choices (Defined)
  4. Actuarial Analyst Vs Risk Analyst: Differences (Decoded)
  5. Actuary: Predictive Modeling Vs Traditional (Unpacked)
  6. Actuarial Technician Vs Actuary: Roles (Decoded)
  7. How Does an Actuary Utilize Data Mining to Identify Potential Losses? (10 Important Questions Answered)
  8. How Can Statistic Computing Help Actuaries? (9 Simple Questions Answered)

Underwriting expenses

The costs associated with underwriting activities, such as salaries and overhead.

  1. Actuary: Auto Insurance Vs Health Insurance (Explained)

Underwriting guidelines

Criteria used by insurance companies to evaluate the risk of insuring a particular individual or entity.

  1. Actuarial: Annuities Vs. Life Insurance Roles (Decoded)
  2. Actuarial Science Vs Mathematics: Degree Value (Defined)
  3. Product Development Vs Pricing: Actuarial Roles (Compared)
  4. Actuary Vs Underwriter: Roles in Insurance (Explained)
  5. Life Vs Non-Life: Actuarial Practice (Compared)
  6. How Can I Learn Accounting Principles to Become an Actuary? (10 Important Questions Answered)
  7. How Does Financial Analysis Assist Actuaries? (9 Simple Questions Answered)
  8. Health Vs Life: Actuarial Specialties (Decoded)
  9. Property Vs. Casualty: Actuarial Fields (Compared)

Underwriting Guidelines Comparison

A comparison of the underwriting guidelines used by different insurance companies.

  1. Life Vs Non-Life: Actuarial Practice (Compared)

Underwriting practices

  1. Actuary: Catastrophe Modeling Vs. Traditional (Compared)

Underwriting process

The process of evaluating and accepting or rejecting insurance applications for various types of insurance policies.

  1. Actuarial: Annuities Vs. Life Insurance Roles (Decoded)
  2. Health Vs Life: Actuarial Specialties (Decoded)
  3. Actuary: Auto Insurance Vs Health Insurance (Explained)
  4. Actuary: Reinsurance Vs Direct Insurance (Explained)
  5. Property Vs. Casualty: Actuarial Fields (Compared)
  6. Actuary: Workers Compensation Vs Personal Injury (Defined)
  7. Actuarial Analyst Vs Risk Analyst: Differences (Decoded)
  8. Actuary: Reserving Vs Pricing Roles (Clarified)
  9. Risk Management Vs. Actuarial: Career Paths (Defined)
  10. Actuary: Personal Lines Vs Commercial Lines (Unpacked)
  11. Life Vs Non-Life: Actuarial Practice (Compared)
  12. How Can Regression Analysis Assist Actuaries? (8 Most Common Questions Answered)
  13. Actuary Vs Data Analyst: Similarities and Differences (Clarified)
  14. Actuary Vs Statistician: Job Differences (Clarified)
  15. Actuary: Insurance Vs Financial Services (Explained)
  16. Actuary: Consulting Vs Corporate Roles (Compared)
  17. Actuary: Predictive Modeling Vs Traditional (Unpacked)

Underwriting process for property and casualty insurances

The process of evaluating and accepting or rejecting insurance applications for property and casualty insurance policies.

  1. Property Vs. Casualty: Actuarial Fields (Compared)

Underwriting profit

The amount of profit generated by an insurance company from underwriting activities.

  1. Actuary: Personal Lines Vs Commercial Lines (Unpacked)
  2. Actuary Vs Underwriter: Roles in Insurance (Explained)

Underwriting profitability

The ability of an insurance company to generate profits from underwriting activities.

  1. Actuary: Reserving Vs Pricing Roles (Clarified)
  2. Actuary: Workers Compensation Vs Personal Injury (Defined)

Underwriting profit/loss

The difference between the premiums collected and the claims paid out by an insurance company.

  1. Actuary Vs Underwriter: Roles in Insurance (Explained)

Underwriting standards

Criteria used to evaluate the risk of insuring a particular individual or entity.

  1. Actuary: Small Firm Vs. Large Corporation (Unpacked)

Unexpected medical expenses

Medical costs that are not anticipated or planned for, such as emergency room visits or unexpected surgeries.

  1. Health Vs Life: Actuarial Specialties (Decoded)