Insurance Underwriter

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Work Tasks

• Decide what an insurance company will cover and decide what the policy will cost
• Decide whether to give someone insurance or not based on medical reports, driving records, etc.
• Talk to customers, agents, and managers about concerns and policy changes
• May make a policy for a whole group of people and talk to the union or employer about what the policy covers and the cost
• Work for insurance companies, independent agencies, brokerages, banks, mortgage firms, real estate firms, and the government
• Work with insurance applications, contracts, policies, medical reports, and reports about loss

Salary, Size & Growth

• $61,000 average per year ($29.25 per hour)
• A medium occupation (95,400 workers in 2010)
• Expected to decline (0.4% per year)

Education/Training

• Minimum for Entry: A 4-year degree and courses in business law and accounting
• Employers Prefer: A 4-year degree in business administration, finance, or risk management
• Skills/Courses: Training in insurance underwriting can be taken before or after being hired. To advance, additional training is usually required.
• Certification/Licensing: Beginning certification takes 1 or 2 years of courses. Higher levels of certification are available.