Symbo General Insurance Underwriting Analyst Interview: Rounds, Questions and Preparation

What the job involves

An Underwriting Analyst at a neobanking, lending or insurtech company assesses the risk of insuring or lending to customers by analysing data, documents and digital signals. Day to day, you review applications, verify KYC and financials, apply underwriting rules, and work with product and tech teams to improve automated decision engines. You balance speed and accuracy while keeping fraud and default rates low.

Role and Technical Knowledge

1. 1

   What is underwriting, and how does it differ between general insurance and lending?

   Define underwriting as risk selection and pricing. Contrast insurance (probability of events like accidents or illness) with lending (probability of default). Mention both use data and rules but have different loss triggers.

2. 2

   What are the key factors you would check in a health insurance application before approving it?

   Cover age, pre-existing conditions, medical history, lifestyle habits, sum insured, and waiting periods. Mention that you would flag non-disclosure and refer to medical guidelines.

3. 3

   How do KYC and AML checks fit into an underwriting workflow at a digital lender?

   Explain that KYC verifies identity and address, while AML screens for money laundering and terrorist financing. In digital lending, these are often automated via APIs, but analysts review mismatches and high-risk flags.

4. 4

   What is a credit bureau score, and how would you use it in a lending decision?

   Describe CIBIL or similar scores, their range, and what they indicate about repayment history. Say you would combine the score with income, obligations, and bank statement behaviour, not rely on it alone.

Practical Scenarios

1. 5

   A customer applies for a personal loan but their bank statement shows frequent bounced EMI payments. What do you do?

   Flag the application for manual review, calculate the bounce ratio, check for reasons like salary delays, and consider asking for additional income proof or reducing the loan amount. Do not reject outright without analysis.

2. 6

   You notice a health insurance applicant has a pre-existing condition that they did not disclose. How do you handle it?

   Verify the condition through medical records or tele-underwriting. Explain that non-disclosure can lead to claim rejection or policy voidance. Recommend either declining, loading the premium, or excluding the condition as per guidelines.

3. 7

   An insurtech startup wants to underwrite a new micro-insurance product for gig workers. What risks would you consider?

   Discuss irregular income, lack of traditional documents, high mobility, and adverse selection. Suggest using alternative data like app activity, and setting simple weekly premiums with clear exclusions.

4. 8

   You have 50 applications to process in a day, and 10 are missing documents. How do you prioritise?

   Prioritise low-risk, complete applications first to meet turnaround times. For missing documents, send automated reminders and set a deadline. Escalate high-value or suspicious cases to a senior.

Behavioural and Situational

1. 9

   Tell me about a time you had to make a decision with incomplete information.

   Use a project or internship example. Show how you gathered available data, assessed risks, made a reasoned choice, and learned from the outcome.

2. 10

   How would you handle a situation where a sales team pressures you to approve a risky loan to meet targets?

   Emphasise adherence to underwriting guidelines and ethics. Say you would explain the risks, document your decision, and escalate if pressure continues. Mention that long-term portfolio health matters more than one sale.

3. 11

   Describe a time you found an error or discrepancy in data. What did you do?

   Pick an example from college projects or part-time work. Explain how you spotted the error, verified it, corrected it, and communicated to stakeholders to prevent recurrence.

4. 12

   Why do you want to work in underwriting at a neobanking or insurtech company?

   Show interest in digital finance and risk. Mention the blend of data, rules, and customer impact. Connect it to your analytical skills and desire to learn in a fast-growing sector.

HR and Company Fit

1. 13

   What do you know about our company and the products we offer?

   Research the company's website, recent news, and product lines. For example, mention if they offer embedded insurance, buy-now-pay-later, or SME lending. Show you understand their target customers.

2. 14

   How do you keep up with changes in insurance or lending regulations?

   Mention sources like IRDAI circulars, RBI notifications, financial news, and LinkedIn posts from experts. Say you would also rely on internal training and compliance updates.

3. 15

   Where do you see yourself in three years in this role?

   Show ambition to grow into senior underwriting, risk analytics, or product roles. Emphasise deepening your knowledge of risk models and automation while contributing to the team.

4. 16

   What are your salary expectations?

   For a fresher, research typical ranges for underwriting analysts in Indian fintech or insurtech. Give a range and say you are open to learning and growth opportunities. Avoid quoting a single rigid number.