Insurance Underwriting Jobs
A career as an insurance underwriter involves reviewing the individual or business’s level of risk, reviewing 
various insurance policies and coverage amounts to determine if the policyholder has the appropriate amount of insurance coverage, or perhaps whether the person can even be insured with the company at all. Sometimes individuals or businesses are simply too “risky” to insure and must be turned down, and it is partly up to the insurance underwriter to make those decisions regarding risk by analyzing the individual or business and the item or situation they’re looking to insure.
People with backgrounds in engineering, economics, math and/or physics often find insurance underwriting jobs to be a good match for their knowledge and personalities, although somewhat surprising! The reason for this is because an insurance underwriter must be detail oriented and analytical. People who enjoy putting pieces together to finish a puzzle often enjoy the tasks of an underwriting job.
Job Requirements for Insurance Underwriters
Not everyone meets the requirements for becoming an insurance underwriter. Previously, having a college degree would often be all a person needed to become an underwriter – now, managers look for college graduates who had studied quantitative studies and a number of mathematical courses. If you want to be an insurance underwriter, you must have a good personality for dealing with other people as you will often have to deliver bad news.
It’s also necessary for an insurance underwriter to have a solid understanding of insurance in general, the insurance offered at the company they work with, and how claims are submitted. Underwriters are the “go-to” person in the insurance industry, with everyone from customer service representatives to insurance agents and claims adjusters contacting them for information. Even insurance policyholders will contact the underwriters with questions and concerns. If you’re looking for a career as an underwriter, you’ll have to be dedicated to learning the ins and outs of the industry.
Insurance Underwriting Job Salaries
A new insurance underwriter might expect to earn between $35,000 and $40,000, while a more experienced underwriter with knowledge in multiple types of insurance might expect to earn between $60,000 and $70,000 per year. The industry outlook for insurance underwriters is good, as there is always a need for insurance. There is great opportunity for career advancement and lifelong learning – but you may need to be willing to transfer from one insurance company to another throughout the course of your career to continue moving up the ladder.
Tags: careers in insurance, insurance jobs, insurance underwriters, underwriting
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