Insurance Underwriter

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  Career Profile

Insurance Underwriter

What they do

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Also Called: Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Consultant, Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Consultant

$48,480
Starting Salary (2023)
$77,860
Median Salary (2023)
-2.4%
Projected Job Growth
101,310
Employment (2022)

Typical Tasks

Decline excessive risks.
Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
Evaluate possibility of losses due to catastrophe or excessive insurance.

A day in the life

What kind of work is this?

Conventional
Organized, Procedural Work
Enterprising
Business based Work
Investigative
Studying, Research based work

What personality traits do you need to succeed?

Integrity
Attention to Detail
Analytical Thinking
Dependability
Achievement/Effort
Cooperation

What key skills are needed for this job?

Reading Comprehension
Active Listening
Writing
Critical Thinking
Speaking
Judgment and Decision Making

Expected Knowledge

English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Common Activities

Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
Making Decisions and Solving Problems
Analyzing information and evaluating results to choose the best solution and solve problems.
Analyzing Data or Information
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

More Info

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