Field underwriting is the initial judgment an insurance agent or producer makes regarding a potential client's capacity to satisfy the underwriting requirements of the insurer.
The producer is in the position to learn details that underwriters and other participants further up the chain would not be aware of because he is the only person in the insurance sales process who has a close relationship with the client. The producer is more likely to know the client personally, giving them a deeper understanding of their personal and professional reputations as well as other personal details. The producer can also help the underwriters choose better risks, increase the efficiency and speed of the underwriting process, and set realistic expectations for their clients by using appropriate field underwriting techniques.
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Full question: Explain what is field underwriting by a producer?
