Insurance Underwriters. What is the role of insurance underwriters? What is the role of insurance agents? Describe two different types of insurance agents. Insurance underwriters: (Select the best answer below.) A. may represent one insurance company. B. are locally regulated. C. provide a function similar to insurance agents. D. set premiums that are aligned with anticipated payouts. agents work for one particular insurance company, whereas agents (insurance brokers) represent many different insurance companies. (Select from the Independent Captive