CFChooseField
Business and Finance

Insurance Underwriters

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

Visual summary of pay, outlook, skills, interests, and preparation for Insurance Underwriters
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Median pay

$79,880
Median annual pay for Insurance Underwriters.
U.S. Bureau of Labor Statistics · 2024
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10-year growth

-2.6%
Projected employment growth from 2024 to 2034.
U.S. Bureau of Labor Statistics · 2024–2034 projections
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Annual openings

8,200
Projected annual openings, including growth and replacement demand.
U.S. Bureau of Labor Statistics · 2024–2034 projections
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Employment

127,000
Estimated U.S. employment for Insurance Underwriters in 2024.
U.S. Bureau of Labor Statistics · 2024
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Jobs added or lost

-3,300
Projected numeric employment change from 2024 to 2034.
U.S. Bureau of Labor Statistics · 2024–2034 projections
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Entry preparation

Bachelor's degree
Typical additional preparation: Moderate-term on-the-job training.
U.S. Bureau of Labor Statistics · 2024 profile
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O*NET occupation profile

What the work involves

Strongest O*NET signals first.

Essential skills

  1. 1Active Listening
  2. 2Critical Thinking
  3. 3Reading Comprehension
  4. 4Writing
  5. 5Speaking
  6. 6Active Learning

Knowledge areas

  1. 1English Language
  2. 2Customer and Personal Service
  3. 3Mathematics
  4. 4Sales and Marketing
  5. 5Administrative
  6. 6Economics and Accounting

Abilities

  1. 1Written Comprehension
  2. 2Inductive Reasoning
  3. 3Written Expression
  4. 4Oral Expression
  5. 5Deductive Reasoning
  6. 6Oral Comprehension

Career interests

  1. 1Conventional
  2. 2Enterprising
  3. 3Investigative
  4. 4Social
  5. 5Realistic
  6. 6Artistic

Work styles

  1. 1Cautiousness
  2. 2Attention to Detail
  3. 3Dependability
  4. 4Integrity
  5. 5Achievement Orientation
  6. 6Self-Confidence

Work activities

  1. 1Getting Information
  2. 2Making Decisions and Solving Problems
  3. 3Analyzing Data or Information
  4. 4Working with Computers
  5. 5Establishing and Maintaining Interpersonal Relationships
  6. 6Processing Information

Work context

  1. 1E-Mail
  2. 2Spend Time Sitting
  3. 3Telephone Conversations
  4. 4Indoors, Environmentally Controlled
  5. 5Time Pressure
  6. 6Contact With Others

Representative tasks

  • Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
  • Evaluate possibility of losses due to catastrophe or excessive insurance.
  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  • 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.
  • Authorize reinsurance of policy when risk is high.

Software and tools

Microsoft Excel · in demandMicrosoft PowerPoint · in demandMicrosoft Outlook · in demandMicrosoft Office software · in demandC++ · hot technologyMicrosoft Word · hot technologyMicrosoft Windows · hot technologyMicrosoft Access · hot technologySkywire Software InsBridgeSIS SEMCI PARTNERRGA Facultative Application ConsoleRGA AURA

Sources

BLS provides national pay, employment, and projections. O*NET provides skills, interests, preparation, tasks, work context, and tools.

ChooseField compares fields using public labor-market and professional sources.