Which of the following best describes the primary function of an insurance underwriter?

The primary function of an insurance underwriter is to determine policy pricing and risk. Underwriters analyze various factors to assess the potential risk involved in insuring a client or their property. This involves evaluating information such as the applicant's health history, the nature of the coverage requested, historical data related to similar risks, and market conditions.

By accurately determining the level of risk, underwriters can set appropriate premiums that reflect the likelihood of a claim being made. This not only ensures that the insurance company remains financially viable but also helps maintain a fair balance in pricing among policyholders. Understanding the risk is crucial for the sustainability of the insurance operations, as it plays a direct role in the company's profitability and ability to pay out claims in the future.

The other options pertain to important functions within the insurance sector but do not accurately capture the core responsibility of an underwriter. Approving claims, resolving disputes, and marketing insurance products involve different roles within the insurance industry, typically associated with claims adjusters, customer service representatives, and marketing professionals, respectively.