What is the name of the process used to review applications for insurance?

The process used to review applications for insurance is known as underwriting. Underwriting is a critical function in the insurance industry, as it involves assessing the risk of insuring an applicant and deciding the terms and conditions of the policy. This includes evaluating various factors such as the applicant's health, lifestyle, and the potential risk associated with the insured property. The underwriter then determines whether to accept or decline the application and may also decide the premium to be charged based on the level of risk identified.

Processing, evaluation, and assessment are terms that can encompass various aspects of the insurance application journey, but they do not specifically refer to the comprehensive and analytical decision-making process carried out by an underwriter. Underwriting, in contrast, is the term that uniquely identifies this crucial evaluation of risk and determination of insurability.