Neobanking, lending and insurtech
Plum Insurance Underwriting Analyst Interview: Rounds, Questions and Preparation
For Underwriting Analyst roles at companies like Plum Insurance
What the job involves
As an Underwriting Analyst in a neobanking, lending or insurtech company, you assess risk for loan or insurance applications using digital data, automated rules and manual review. You work with product, data and operations teams to approve, reject or price applications, and you help refine underwriting policies for speed and accuracy. Day to day you review documents, check fraud signals, calculate affordability and document decisions.
Role and Technical Knowledge
- 1
What are the key steps in underwriting a personal loan application in a digital lending company?
Mention application capture, KYC verification, credit bureau check, income and affordability analysis, fraud checks, decision rules and final approval or rejection with documented reasons.
- 2
How would you assess the creditworthiness of a first-time borrower with no credit history?
Discuss alternative data like bank statements, utility payments, rent history, employment stability and using surrogate scores or cash-flow based underwriting.
- 3
What is the difference between underwriting a loan and underwriting an insurance policy?
Explain that loans focus on repayment capacity and default risk, while insurance focuses on probability of a claim event and pricing premiums; both use data but have different risk pools and regulations.
- 4
Which Indian regulations affect digital lending and underwriting?
Mention RBI guidelines on digital lending, KYC norms, fair practices code, data privacy rules and for insurance, IRDAI guidelines on product filing and claim settlement.
Practical Scenarios and Case Questions
- 5
A loan applicant has a credit score of 720 but shows a sudden 40% drop in bank balance over three months. What do you do?
Suggest verifying income sources, checking for recent large expenses or loan repayments, and possibly requesting additional documents or reducing the loan amount before deciding.
- 6
You notice the same PAN card used in three different applications with different names. How do you handle this?
State that you would flag it as a potential fraud, escalate to the fraud team, put the applications on hold and follow the company's AML and KYC escalation process.
- 7
An insurance applicant for a health policy has a pre-existing condition but did not disclose it. What is your next step?
Explain that you would verify medical records, follow the insurer's disclosure norms, and either decline, load the premium or exclude the condition based on policy guidelines and IRDAI rules.
- 8
You have to underwrite 50 applications in a day with limited time. How do you prioritise?
Talk about using automated rules for low-risk cases, focusing manual review on high-value or high-risk applications, and maintaining accuracy over speed to avoid bad decisions.
Behavioural and Situational Questions
- 9
Tell me about a time you had to make a decision with incomplete information.
Use a STAR example showing how you gathered what was available, assessed risk, made a reasonable call and took responsibility for the outcome.
- 10
Describe a situation where you found an error or inconsistency in data. What did you do?
Highlight attention to detail, how you verified the error, communicated it to the right person and prevented it from affecting the final decision.
- 11
How would you handle a customer who is angry because their loan was rejected?
Show empathy, explain the decision clearly without jargon, avoid sharing internal risk models, and offer next steps like reapplication after improving credit or providing more documents.
- 12
Give an example of working in a team under a tight deadline.
Focus on clear communication, dividing tasks, supporting teammates and delivering accurate work on time without compromising quality.
HR and Motivation Questions
- 13
Why do you want to work as an Underwriting Analyst in a neobanking or insurtech company?
Connect your interest in risk, data and digital finance, and mention the fast-paced, tech-driven nature of these companies and the chance to learn modern underwriting.
- 14
Where do you see yourself in three years in this role?
Show a path from learning underwriting basics to handling complex cases, contributing to policy improvements and possibly moving into senior underwriting or risk analytics.
- 15
How do you keep up with changes in lending and insurance regulations?
Mention following RBI and IRDAI updates, reading industry news, taking online courses and discussing with mentors or colleagues.
- 16
What are your salary expectations for this fresher role?
Research typical fresher salaries for underwriting analysts in Indian fintechs, give a reasonable range and express flexibility based on learning and growth opportunities.
Ready to try it for real?
Take a timed test or talk through a mock interview for this role, then see your scores.
This is practice material for Underwriting Analyst roles, written with AI. It is not a list of questions Plum Insurance or any other company has asked.