What’s an ‘underwriter’?
An insurance underwriter is a company that assesses and takes on the risk of insuring people or assets.
When an insurance product is sold by one company but underwritten by another, it means that the underwriting company is responsible for evaluating the risk and providing the financial backing for the policy, while the selling company handles the customer relationship and policy administration.
This allows the selling company to offer insurance products without bearing the full risk.
