Analyzes and evaluates risks associated with insurance policies or loans and makes decisions on coverage and terms
We’ve helped thousands of clients hire amazing staff in the Philippines and Latin America.
Benefits of Hiring an Underwriter
Hiring a skilled underwriter improves risk management and boosts profitability. An experienced underwriter evaluates financial data and assesses risk to ensure smart lending or insurance decisions. By catching bad risks and approving sound business, they protect your bottom line and allow growth. A remote underwriter can also be very cost-effective. For example, one analysis notes that hiring finance professionals from abroad can save around 70–80% of the cost of a U.S. hire while still getting a full-time, high-quality team member. In regions like the Philippines, Latin America, and South Africa, many candidates hold finance, economics, or accounting degrees and possess excellent English and analytical skills. In short, a remote underwriter brings expert credit analysis and heavy cost savings (often most of U.S. salary) to your company.
Best Countries to Hire an Underwriter
All three regions offer strong underwriters, but they have different advantages. The Philippines has a large pool of finance graduates with excellent English proficiency and a well-established outsourcing industry. Latin America (e.g. Colombia, Mexico) provides near-time-zone alignment with the U.S., making collaboration easier, and many bilingual finance professionals. South Africa combines Western work culture and fluent English with a growing finance talent pool. In practice: if budget is top priority, the Philippines often offers the lowest rates; if daytime overlap with the U.S. is vital, Latin America’s time zones are a big plus; and South Africa can offer a balance of English fluency and work ethic. Our global hiring experts (who understand local markets ) can help advise which region fits your specific needs.
What You Can Expect from Your Underwriter
Your remote underwriter will serve as a risk assessment expert within your finance or insurance team. Expect them to:
- Analyze applications and data: They’ll evaluate loan or insurance applications, reviewing borrowers’ financial statements and credit histories.
- Set terms and rates: Based on risk factors, they’ll determine appropriate premiums, interest rates, or credit terms.
- Collaborate closely: They’ll work with underwriters, loan officers, or senior finance staff to refine underwriting guidelines and ensure consistent decisions.
- Ensure compliance and reporting: They stay up-to-date on industry regulations and communicate any changes to the team.
- Deliver insights: In addition to routine analysis, they may identify trends or suggest process improvements (e.g., adjusting criteria to improve acceptance rates while maintaining low default levels).
In essence, you’ll gain a detail-oriented professional who secures profitable business and reduces losses. Like other global hires, expect strong communication (many speak near-native English ) and a good work ethic.
How to Hire Your Next Underwriter
To efficiently hire your remote underwriter, begin by defining your needs with a clear job description, including required experience, licenses, and software skills. And our recruiters can also help you with that, just let us know! Next, engage a specialized remote staffing partner like Somewhere, which excels at sourcing and pre-screening top finance talent, often filtering candidates to the top 0.5%. You'll then review a shortlist of thoroughly vetted underwriters who have undergone background checks, skill tests, and English fluency screens. Conduct online interviews to select the best fit, keeping in mind many candidates have significant prior experience with U.S. companies. Finally, finalize the hire and setup; we will manage contracts and onboarding, typically as a contractor on your payroll, charging a one-time recruiting fee with a 6-month replacement guarantee, allowing you to quickly integrate a remote underwriter into your finance operations.
Underwriter Job Description
We’ve helped thousands of clients hire amazing staff in the Philippines, South Africa and Latin America.
Tasks and responsibilities: The underwriter conducts risk assessments and credit analysis to guide lending or insurance decisions. Typical duties include evaluating applications, analyzing financial data, setting premiums/terms, and communicating guidelines. They collaborate with teams to refine underwriting policies, ensure compliance with regulations, and provide reports on portfolio risk.
Qualifications: Most underwriters hold finance or accounting degrees and have experience with credit scoring, risk modeling, or insurance guidelines. Strong analytical skills and attention to detail are essential. Many in the Philippines, Latin America, and South Africa hold relevant certifications or degrees. Expect fluency in English (especially in South Africa or Philippines) and proficiency with underwriting software or financial tools. Reliability, problem-solving ability, and good communication are key, since they must clearly explain risk decisions to stakeholders.
FAQs on Hiring a Remote Underwriter
Is hiring through a service like Somewhere complicated?
Not at all! You typically fill out a simple briefing form or call. They we'll manage the recruitment, vetting, even payroll, and compliance on your behalf. You just interview the top candidates, make an offer, and focus on integrating the underwriter into your workflow.
What if the hire isn’t a good fit?
Somewhere has a 6-month replacement guarantee. If the initial hire doesn’t work out, we will find a replacement at no extra cost within the guarantee period.
Do candidates speak English well?
Yes. The Philippines and South Africa both have high English proficiency. Many Latin American hires are bilingual and can communicate clearly in English. Staffing firms ensure candidates have strong verbal and written skills in English.
How much can I save by hiring a remote underwriter?
Significant savings are typical. Salaries for finance roles in these regions can be 70–80% lower than U.S. rates. For example, typical savings estimates show around 70% cost reduction for remote finance hires.
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