Did you know that math and computers can teach us to predict the future? Insurance underwriters must develop this special superpower in order to do their jobs correctly. Insurance underwriters are the people who decide whether or not to give people insurance for their cars, houses, and personal health. Insurance companies make money by charging their clients for protection against accidents—but of course, when they have to pay for damage caused by a car crash or a poor diet, they lose money. So, insurance underwriters use statistical information about your age, job, and other factors to determine whether or not you're likely to be a "safe" or a "risky" bet for them. ("Risky" people can still get insurance, but they're charged more money each month.) Underwriters can also create special policies for unique businesses with extra-high risks.
The Details
When they keep their promises to insure us, insurance underwriters can help us to rebuild our lives after a bad accident and save us thousands of dollars.
British insurer Lloyd's of London has insured some pretty odd items in the past, including a food critic's tastebuds, an actress' legs, a yo-yo champion's hands, and a comedian's teeth.
