Summary
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Quick Facts: Insurance Underwriters | |
---|---|
$70,020 per year
$33.67 per hour |
|
Bachelor's degree | |
None | |
Moderate-term on-the-job training | |
114,700 | |
-6% (Decline) | |
-7,100 |
What Insurance Underwriters Do
Insurance underwriters evaluate insurance applications and decide whether to provide insurance, and under what terms.
Work Environment
Insurance underwriters work indoors in offices. Most work full time.
How to Become an Insurance Underwriter
Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough for some positions. Certification is generally necessary for advancement to senior underwriter and underwriter manager positions.
Pay
The median annual wage for insurance underwriters was $70,020 in May 2019.
Job Outlook
Employment of insurance underwriters is projected to decline 6 percent from 2019 to 2029. Automated underwriting software allows workers to process applications more quickly than before, reducing the need for as many underwriters.
State & Area Data
Explore resources for employment and wages by state and area for insurance underwriters.
Similar Occupations
Compare the job duties, education, job growth, and pay of insurance underwriters with similar occupations.
More Information, Including Links to O*NET
Learn more about insurance underwriters by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.