Well at least as long as i've been working in GI!
It depends on the underwriter, class of business, and maybe company culture, i guess. But in my experience (London market, general insurance) most underwriters don't need an actuary to price their risks for them, and if they do get some assistance from an actuary, they'll need to understand exactly what's been done.
Of course the underwriter is also responsible for pricing in in more qualitative factors, understanding market rates and issues, negotiating terms and prices, and managing their portfolio, so I think they deserve more credit than you seem to give them
Last edited by a moderator: Jan 24, 2012