Insurance Underwriters

13-2053.00 Zone 4 — Considerable Preparation Needed

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

Also known as: Account Manager Underwriter, Account Underwriter, Automobile and Property Underwriter, Bond Underwriter, Casualty Underwriter, Commercial Credit Underwriter, Commercial Insurance Underwriter, Commercial Lines Underwriter, ...

Annual Salary

$79,880

Median annual wage (May 2024)

$63,070 25th – 75th percentile $104,820
10th percentile $51,640
90th percentile $138,020
U.S. Employment: 107,820

Job Outlook

-2.6%

Projected growth, 2024–2034 (Declining)

Annual Job Openings 8,200 per year (avg. 2024–2034)
Typical education: Bachelor's degree
On-the-job training: Moderate-term on-the-job training

What You'd Do

  • 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.
  • 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.
  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  • Authorize reinsurance of policy when risk is high.
  • Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.

Top Skills

Reading Comprehension 3.8
Active Listening 3.8
Writing 3.8
Critical Thinking 3.8
Speaking 3.6
Judgment and Decision Making 3.5
Complex Problem Solving 3.1
Active Learning 3.1

Importance scale: 1 (low) – 5 (high)

Knowledge Areas

English Language 4.0
Customer and Personal Service 3.9
Mathematics 3.3
Sales and Marketing 3.2
Administrative 2.9
Economics and Accounting 2.7
Law and Government 2.7
Computers and Electronics 2.7

Importance scale: 1 (low) – 5 (high)

Education Level Distribution

Percentage of workers in this occupation by education level

Bachelor's
70%
High School
10%
Associate's
10%
Some College
6.7%
Post-Bacc Cert
3.3%

Technology & Tools

Software and tools commonly used in this role

In-Demand Technologies

C++ Microsoft Access Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft PowerPoint Microsoft Windows Microsoft Word

Other Tools

Anodas Software Limited Phoenix Consilience Software Maven Insurance Automation Suite CSC nbAccelerator Database software Delphi Technology Fair Isaac Enterprise Decision Management for Insurance Fannie Mae Desktop Underwriter Fiserv Advanced Underwriting IBM FileNet Content Manager LabOne NET LexisNexis NIIT Technologies WinRisk QualCorp FormsPlus RGA AURA RGA Facultative Application Console +6 more

Work Styles

Personality traits and work styles important for this career

2.7
Cautiousness
2.7
Attention to Detail
2.5
Dependability
2.2
Integrity
1.8
Achievement Orientation
1.5
Self-Confidence
1.4
Intellectual Curiosity

Key Abilities

Cognitive, physical, and sensory abilities important for this role

Written Comprehension 3.9
Written Expression 3.8
Inductive Reasoning 3.8
Oral Expression 3.6
Oral Comprehension 3.5
Deductive Reasoning 3.5
Problem Sensitivity 3.4
Speech Clarity 3.4

Importance scale: 1 (low) – 5 (high)

Work Activities

General types of job behaviors occurring on this job

Getting Information 4.8
Making Decisions and Solving Problems 4.6
Analyzing Data or Information 4.4
Working with Computers 4.4
Establishing and Maintaining Interpersonal Relationships 4.3
Processing Information 4.1
Communicating with People Outside the Organization 4.1
Organizing, Planning, and Prioritizing Work 4.0

Importance scale: 1 (low) – 5 (high)

Work Environment

Physical and social factors that influence the nature of work

E-Mail
5.0
Spend Time Sitting
4.9
Telephone Conversations
4.8
Time Pressure
4.6
Indoors, Environmentally Controlled
4.6
Contact With Others
4.5
Face-to-Face Discussions with Individuals and Within Teams
4.4
Frequency of Decision Making
4.3
Importance of Being Exact or Accurate
4.3
Freedom to Make Decisions
4.3
Determine Tasks, Priorities and Goals
4.1
Written Letters and Memos
4.0

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Salary data: BLS Occupational Employment and Wage Statistics, May 2024. Outlook data: BLS Employment Projections, 2024–2034.

This page includes information from the O*NET 30.2 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license.