Insurance underwriters

SOC Code: 13-2053
Also known as:
Account Manager Underwriter, Account Underwriter, Automobile and Property Underwriter, Bond Underwriter, Casualty Underwriter
Median Annual Salary
$79,880
-2.6% growth (2024-2034)
8K
Openings/Year
127K
Current Jobs

What Insurance underwriters Do

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

💰 Salary

$79,880
Median annual wage (2024)

📈 Job Growth

-2.6%
Decline

🎓 Education

Bachelor's degree
Typical entry-level requirement

🚀 Annual Openings

8K
Projected average per year

📚 On-the-Job Training

Moderate-term on-the-job training
Expected training period

Employment Projections (2024-2034)

Current Employment (2024)

127,000

Projected Employment (2034)

123,700

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Top Skills Required

Reading Comprehension
Active Listening
Writing
Critical Thinking
Speaking

Daily Tasks & Responsibilities

  • 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.

Technology & Tools

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

📚 Entry-Level Education

Bachelor's degree
Most common requirement

🎯 Recommended Education

Bachelor's Degree
O*NET recommended level

Degree Programs for Insurance underwriters

These degree programs can prepare you for a career as a insurance underwriters:

Insurance

2,147 degrees awarded • 75 colleges offer this program
View Colleges →

Actuarial Science

1,363 degrees awarded • 123 colleges offer this program
View Colleges →

Risk Management

180 degrees awarded • 13 colleges offer this program
View Colleges →

Best Colleges for Becoming a Insurance underwriters

Ranked by Repit grade, then by degrees in related programs. These are the top-rated colleges that prepare students to become insurance underwriters.

# College Location Related Degrees Repit Grade
1 University of California-Los Angeles Los Angeles, CA 89 A+
2 University of Georgia Athens, GA 296 A
3 University of California-Santa Barbara Santa Barbara, CA 44 A
4 Columbia University in the City of New York New York, NY 35 A
5 Boston University Boston, MA 26 A
6 The University of Texas at Austin Austin, TX 9 A
7 University of Wisconsin-Madison Madison, WI 182 B+
8 Florida State University Tallahassee, FL 152 B+
9 Purdue University-Main Campus West Lafayette, IN 71 B+
10 University of Illinois Urbana-Champaign Champaign, IL 70 B+
11 Ohio State University-Main Campus Columbus, OH 60 B+
12 University of Connecticut Storrs, CT 52 B+
13 Pennsylvania State University-Main Campus University Park, PA 25 B+
14 CUNY Bernard M Baruch College New York, NY 20 B+
15 University of Minnesota-Twin Cities Minneapolis, MN 17 B+
16 University of Central Florida Orlando, FL 13 B+
17 Temple University Philadelphia, PA 142 B
18 University of Iowa Iowa City, IA 96 B
19 University of Missouri-Columbia Columbia, MO 75 B
20 University of South Carolina-Columbia Columbia, SC 62 B

Want this ranking as a spreadsheet? Investor Pro+ members can export any Repit table to CSV. See plans →

Frequently Asked Questions

How much do insurance underwriters make?
The median annual salary for insurance underwriters is $79,880.
What education do insurance underwriters need?
Most insurance underwriters positions require a bachelor's degree. Common degree programs include Insurance, Actuarial Science, Risk Management.
Is becoming insurance underwriters a good career choice?
Insurance underwriters is projected to see -2.6% job growth from 2024 to 2034, which reflects some decline in the field. With approximately 8,200 job openings expected annually, there are good opportunities for those entering the field.
What are the best colleges for insurance underwriters?
Top colleges for aspiring insurance underwriters include University of California-Los Angeles, University of Georgia, University of California-Santa Barbara, Columbia University in the City of New York, Boston University. These schools are ranked based on their Repit grade and the number of graduates in related programs.
What other job titles are similar to insurance underwriters?
Insurance underwriters may also be known as: Account Manager Underwriter, Account Underwriter, Automobile and Property Underwriter, Bond Underwriter, Casualty Underwriter, Commercial Credit Underwriter, Commercial Insurance Underwriter, Commercial Lines Underwriter, Commercial Underwriter, Direct Endorsement Underwriter (DE Underwriter), Excess Casualty Underwriter, Field Underwriter, Health Underwriter, Insurance Analyst, Insurance Underwriter, Insurance Writer, Life Underwriter, Management Liability Underwriter, Marine Underwriter, Middle Market Underwriter. These titles often refer to similar roles with varying responsibilities or specializations.