Also known as Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Consultant
Also known as Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter
Insurance Underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Insurance Underwriters are often responsible for overseeing or executing some or all of the following tasks:
The above responsibilities are specific to Insurance Underwriters. More generally, Insurance Underwriters are involved in several broader types of activities:
The median salary for an Insurance Underwriter is $71,790, and the average salary is $80,390. Both the median and average roughly describe the middle of the Insurance Underwriter salary range, but the average is more easily affected by extremely high or low salaries.
Many Insurance Underwriters earn significantly more or less than the average, due to several factors. About 10% of Insurance Underwriters earn less than $43,210 per year, 25% earn less than $54,850, 75% earn less than $97,820, and 90% earn less than $129,550.
Between the years of 2020 and 2030, the number of Insurance Underwriters is expected to change by -1.8%, and there should be roughly 8,300 open positions for Insurance Underwriters every year.
Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.
Compared to most occupations, those who work as an Insurance Underwriter are usually higher in their Conventional and Enterprising interests.
Insurance Underwriters typically have very strong Conventional interests. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Also, Insurance Underwriters typically have moderate Enterprising interests. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
People differ in their values, or what is most important to them for building job satisfaction and fulfillment.
Compared to most people, those working as an Insurance Underwriter tend to value Independence, Relationships, and Support.
Most importantly, Insurance Underwriters strongly value Independence. Occupations that satisfy this work value allow employees to work on their own and make decisions.
Second, Insurance Underwriters strongly value Relationships. Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment.
Lastly, Insurance Underwriters moderately value Support. Occupations that satisfy this work value offer supportive management that stands behind employees.
Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.
In order to perform their job successfully, people who work as Insurance Underwriters must consistently demonstrate qualities such as integrity, attention to detail, and analytical thinking.
Below, you'll find a list of qualities typically required of Insurance Underwriters, ranked by importance:
Many Insurance Underwriters will have a four-year bachelor's degree, but some do not.
Insurance Underwriters usually need several years of work-related experience, on-the-job training, and/or vocational training.
Insurance Underwriters may benefit from understanding of specialized subject areas, such as customer and personal service, mathematics, or sales and marketing knowledge.
The list below shows several areas in which most Insurance Underwriters might want to build proficiency, ranked by importance.
Insurance Underwriters must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.
For example, Insurance Underwriters need abilities such as written comprehension, written expression, and inductive reasoning in order to perform their job at a high level. The list below shows several important abilities for Insurance Underwriters, ranked by their relative importance.
Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.
Insurance Underwriters frequently use skills like active listening, reading comprehension, and writing to perform their job effectively. The list below shows several critical skills for Insurance Underwriters, ranked by their relative importance.
The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.
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