Insurance Underwriters
SOC: 13-2053.00

Description:

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


National Salary Information:

Hourly Statistics:

Annual Statistics:

Source: Bureau of Labor Statistics 2015 wage data.


Employment Projections:

Employment (2014):
103,400 employed

Projected (2024):
91,600 employed

Projected growth (2014-2024)


Source: Bureau of Labor Statistics 2015 2014-2024 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.


Alternate Titles:

  • Account Underwriter
  • Automobile and Property Underwriter
  • Bond Underwriter
  • Commercial Lines Underwriter
  • Commercial Underwriter
  • Customer Service Representative
  • Health Underwriter
  • Insurance Analyst
  • Insurance Underwriter
  • Insurance Writer
  • Life Underwriter
  • Marine Underwriter
  • Personal Lines Underwriter
  • Property Underwriter
  • Reviewer
  • Reviewer Sales
  • Risk Analyst
  • Underwriter
  • Underwriting Account Representative
  • Underwriting Consultant
  • Underwriting Director
  • Underwriting Manager
  • Underwriting Service Representative


  • Job Zone Four: Considerable Preparation Needed

    Experience:

    A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

    Education:

    Most of these occupations require a four-year bachelor's degree, but some do not.

    Job Training:

    Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.


    Required Skills:

  • Reading Comprehension
  • Active Listening
  • Writing
  • Speaking
  • Mathematics
  • Science
  • Critical Thinking
  • Active Learning
  • Learning Strategies
  • Monitoring
  • Social Perceptiveness
  • Coordination
  • Persuasion
  • Negotiation
  • Instructing
  • Service Orientation
  • Complex Problem Solving
  • Operations Analysis
  • Technology Design
  • Programming
  • Operation Monitoring
  • Judgment and Decision Making
  • Systems Analysis
  • Systems Evaluation
  • Time Management
  • Management of Financial Resources
  • Management of Material Resources
  • Management of Personnel Resources

  • Knowledge Used:

  • Administration and Management
  • Clerical
  • Economics and Accounting
  • Sales and Marketing
  • Customer and Personal Service
  • Personnel and Human Resources
  • Production and Processing
  • Computers and Electronics
  • Mathematics
  • Biology
  • Psychology
  • Sociology and Anthropology
  • Geography
  • Medicine and Dentistry
  • Therapy and Counseling
  • Education and Training
  • English Language
  • Foreign Language
  • Law and Government
  • Telecommunications
  • Communications and Media


  • Tasks:

  • Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, and 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.

  • Tools & Technology:

  • 10-key calculators
  • Desktop computers
  • Laptop computers
  • Notebook computers
  • Personal computers
  • Anodas Software Limited Phoenix
  • C++
  • Consilience Software Maven Insurance Automation Suite
  • CSC nbAccelerator
  • Database software
  • Delphi software
  • Fair Isaac Enterprise Decision Management for Insurance
  • Fannie Mae Desktop Underwriter
  • FileNet Content Manager
  • Fiserv Advanced Underwriting
  • LabOne NET
  • Microsoft Excel
  • Microsoft Office software
  • Microsoft PowerPoint
  • Microsoft Word
  • NIIT Technologies WinRisk
  • QualCorp FormsPlus
  • RGA AURA
  • RGA Facultative Application Console
  • SIS SEMCI PARTNER
  • Skywire Software InsBridge
  • Spreadsheet software
  • Valen Technologies Risk Manager
  • Web browser software
  • Word processing software


  • business and financial operations


    industry stats

    SOC: 13-0000

    Total Employed: 7,032,560

    Average Annual Salary: $73,800