Who performs the functions of risk selection in determining an individual's insurability for policy issue?

The underwriter is the professional responsible for risk selection in determining an individual's insurability before a policy is issued. This role involves evaluating the risks associated with insuring a particular individual based on various factors, such as health history, lifestyle choices, family medical history, and other relevant information. The underwriter assesses this information to decide whether to accept or reject the application for insurance and the terms under which the policy can be issued.

Underwriting ensures that the insurer takes on risks that fall within its guidelines and that premiums are set at levels that reflect the risks being assumed. The process is critical in maintaining the insurer's financial stability and in establishing fair pricing for policyholders based on their respective risk profiles.

Other roles mentioned, such as an agent, claims processor, and adjuster, have different responsibilities. Agents primarily facilitate the sale of insurance products but do not perform the risk evaluation. Claims processors handle the administration of claims after a loss occurs, and adjusters investigate and evaluate the claims to determine the payout but are not involved in the underwriting process to assess initial insurability.