review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Salary, Job Description, How To Become One, and More
In this career summary, you will find out what the job of an Insurance Underwriter is about and what it is like.
After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.
Insurance Underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Interested in becoming an Insurance Underwriter? Find the right schools that can help you to become one. This service is free thanks to our sponsors.
Studying for a standardized test for your college admissions?
Improve your test scores on SAT, ACT, GRE, and GMAT.Read more
Insurance Underwriters with little to no experience tend to make between $42260 and $53200 while the more experienced ones can earn over $93550 per year.
|Top 5 paying states||Hourly||Annual|
One of the easiest ways to increase your salary as an Insurance Underwriter is to move to a higher paying state like NY. Right now, the highest paying states for Insurance Underwriters are NY, NJ, CA, DC and CT.
However a higher pay at NY doesn’t guarantee that you will make more because the living expenses at NY might be twice as high than where you are currently at now.
Three other factors that can increase your salary as an Insurance Underwriter is the degree you hold, the industry you work in and lastly the company you work for.
We asked other Insurance Underwriters what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a High School Diploma.
Other than that, we also asked them what did they major in and here are the most popular majors that came up.
Pros and Cons
Here are some of the pros and cons of being an Insurance Underwriter.
|Suitable for people who likes to follow routines|
|Suitable for people who values relationships between co-workers and customers and wants to work in a friendly non-competitive environment|
|This career is perfect for people who love to work indoors.|
|Very good salary|
|Not suitable for people who likes to work with designs|
|It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.|
|Demand for this career is declining|
What is the job like
70% of Insurance Underwriters said they were satisfied with their job and 37% said they feel like their job is making other people’s lives better.
Is this right for me
You can read more about these career personality types here.
People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas..
They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.
How we can help
Start your journey to be an Insurance Underwriter
Yes, I'm sure
conduct security assessments for organizations, and design security systems and processes. May specialize in areas such as physical security, personnel security, and information security. May work in fields such as health care, banking, gaming, security engineering, or manufacturing.
buy merchandise or commodities, other than farm products, for resale to consumers at the wholesale or retail level, including both durable and nondurable goods. Analyze past buying trends, sales records, price, and quality of merchandise to determine value and yield. Select, order, and authorize payment for merchandise according to contractual agreements. May conduct meetings with sales personnel and introduce new products. Includes assistant wholesale and retail buyers of nonfarm products.
examine, evaluate, and investigate eligibility for, conformity with, or liability under licenses or permits.
review settled insurance claims to determine that payments and settlements have been made in accordance with company practices and procedures. Report overpayments, underpayments, and other irregularities. Confer with legal counsel on claims requiring litigation.
recruit and hire seasonal or temporary agricultural laborers. May transport, house, and provide meals for workers.
Related career information
Insurance Underwriters job description, Insurance Underwriters salary, Insurance Underwriters information, what is the job of an Insurance Underwriter like, pros and cons about Insurance Underwriters, colleges and universities for Insurance Underwriters, is Insurance Underwriters the right career for me, careers in Business and Finance
Account Underwriter, Automobile and Property Underwriter, Bond Underwriter, Commercial Lines Underwriter, Commercial Underwriter, Customer Service Representative, Health Underwriter, Insurance Analyst, Insurance Underwriter, Insurance Writer