How To Become An Insurance Underwriter: Degree and Education Requirements

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what degree do you need to become an Insurance Underwriter
majors for Insurance Underwriters

Insurance Underwriters

Other names for this job might include Account Underwriter, Automobile and Property Underwriter, Bond Underwriter, Commercial Lines Underwriter, Commercial Underwriter, Customer Service Representative, Health Underwriter, Insurance Analyst, Insurance Underwriter, Insurance Writer


  • $72650
    Salary
  • 70%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Bad
    Job growth
OwlGuru Rank

B



Be An Insurance Underwriter: What You Really Need


In this requirements guide for Insurance Underwriters, you will find out what do you need to become an Insurance Underwriter and what it takes to become one.

After reading this, you will be able to plan for your future if you want to be an Insurance Underwriter.



Degree required

Recommended degree level

Bachelor’s Degree

Bachelors degree
80.77%

Associates degree
11.54%

High School Diploma
3.85%

Post-bachelor certificate
3.85%

No degree
%

Generally, employers are looking for Insurance Underwriters who have a Bachelors degree. They also prefer someone who is good in Reading Comprehension and Active Listening.

1 common question that we always get is what major or degree do I need to become An Insurance Underwriter or what courses do I need to take.

We did a survey to ask other Insurance Underwriters what did they major in college or university and here are the most popular majors that came up.

Actuarial Science
Insurance

Most firms prefer to hire Insurance Underwriters who have a bachelor’s degree. Courses in business, finance, economics, and mathematics are particularly helpful.



Schools

schools for Insurance Underwriters

Interested in becoming An Insurance Underwriter? Find the right schools that can help you to become one. You will need some of your details to get you matched with the right college or university. This service is free thanks to our sponsors.

Questions to ask the university or college:

  1. How many students are in the program?
  2. Is your program accredited?
  3. How many faculty members do you have? Do they hold the right credentials?
  4. What is your job placement rate?
  5. Does your school hold career fairs or other on-campus events with employers? How many employers typically attend?
  6. How many of your students have at least one internship by graduation?

Click to start becoming an Insurance Underwriter




How long does it take

Difficulty
Quite Hard

You will need a considerable amount of work-related skill, knowledge or experience to be An Insurance Underwriter.

For example: An accountant must complete 4 years of college and work for several years in accounting to be considered qualified.

To become An Insurance Underwriter, you will need several years of work-related experience, on-the-job training or vocational training.


How long does it take
2 1/2 to 5 years


Work experience
2 to 4 years

2 to 4 years
38.46%

No experience
19.23%

1 to 2 years
19.23%

4 to 6 years
11.54%

6 months to 1 year
7.69%

Job training
6 months to 1 year

6 months to 1 year
46.15%

1 to 2 years
23.08%

3 to 6 months
15.38%

1 to 3 months
7.69%

2 to 4 years
3.85%

Most Insurance Underwriters have 2 to 4 years work experience and 6 months to 1 year job training.

To increase your chances of getting a job, you can look for job training while studying to be one.



License and certifications

Do you need any license or certification
Recommended but not required


Employers often expect Insurance Underwriters to get certification through coursework. Certification is often necessary for advancement to senior underwriter and underwriter management positions. Many certification options are available. For beginning underwriters, The Institutes offers a training program. The Institutes also offers two special designations, an Associate in Commercial Underwriting (AU) and an Associate in Personal Insurance (API). To earn either the AU or API designation, underwriters complete a series of courses and exams that generally take 1 to 2 years.



Skills required

We asked other Insurance Underwriters if they could only have 5 skills, what would they be. Here is what they said.

1. Reading Comprehension what does this mean
2.Active Listening what does this mean
3.Judgement and Decision Making what does this mean
4.Speaking what does this mean
5.Critical Thinking what does this mean
= Hot in-demand that most employers are looking for

We did some research and found that most successful Insurance Underwriters have these 5 common characteristics. Most of them had Attention to Detail and Integrity.

1.Attention to Detail
2.Integrity
3.Dependability
4.Analytical Thinking
5.Self Control




Knowledge required

Just like any other job, you will need some know-hows to do the job. To become a successful Insurance Underwriters you need to acquire knowledge in these 5 key areas.

1. Medicine and Dentistry what does this mean
2.English Language what does this mean
3.Customer and Personal Service what does this mean
4.Mathematics what does this mean
5.Clerical what does this mean

As An Insurance Underwriter, you may also be required to know how to use certain Enterprise resource planning ERP software, Object or component oriented development software and Enterprise resource planning ERP software tools.

Anodas Software Limited Phoenix (Enterprise resource planning ERP software)
C++ (Object or component oriented development software)
Consilience Software Maven Insurance Automation Suite (Enterprise resource planning ERP software)
CSC nbAccelerator (Enterprise resource planning ERP software)
Database software (Data base user interface and query software)
= Hot in-demand that most employers are looking for




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Career type

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Insurance Services

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Related to Insurance Underwriters Requirements

Insurance Underwriters requirements, how to become Insurance Underwriters, degree required to be an Insurance Underwriter, Insurance Underwriters license and certifications, majors to be an Insurance Underwriter, is it hard to become an Insurance Underwriter and how long does it take

Additional resources

http://www.bls.gov/OOH/business-and-financial/insurance-underwriters.htm
http://www.iii.org/
http://www.theamericancollege.edu/
http://www.naifa.org/

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Insurance Underwriters
Written by: Stanley Tan
Insurance Underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
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