Why is personal interview information important in underwriting?

Personal interview information is crucial in the underwriting process because it offers rich context and nuanced details that may not be fully conveyed in a written application. Underwriters are tasked with assessing the risk associated with issuing a policy, and a personal interview allows for a deeper understanding of the applicant's health history, lifestyle choices, and other relevant factors. Through direct interactions, underwriters can ask follow-up questions and clarify responses, which leads to more accurate risk assessments.

The written application, while providing essential information, can sometimes lack the personal touch and detailed explanations that an interview can reveal. For instance, applicants might omit certain details in writing or misunderstand the questions. In a personal interview, underwriters can gather additional insights, enabling a more comprehensive evaluation of the applicant's risk profile. This thorough understanding aids in making informed decisions about policy issuance and the terms of coverage.

Utilizing personal interviews enhances the underwriting process, allowing insurers to tailor their offerings to the specific needs and risks of the applicants accurately.