What does field underwriting involve?

Field underwriting involves gathering information about an applicant's insurability. This process is crucial in the insurance industry as it allows agents to assess the risk associated with insuring a particular individual. By collecting details such as health history, lifestyle choices, occupation, and other relevant factors, agents can determine whether an applicant qualifies for coverage and under what terms. The information obtained during field underwriting helps the insurance company make informed decisions regarding policy issuance, premium pricing, and overall risk management.

The other options, while related to different aspects of insurance practices, do not accurately describe field underwriting. Company training for agents focuses on educating agents about products and sales techniques, reviewing policy clauses pertains to understanding the terms within an insurance policy, and evaluating market competition deals with analyzing the broader market landscape rather than individual applicant assessment.