Underwriter

Education required for this profession

For entry-level underwriting jobs, most large insurance companies prefer college graduates who have a degree in business administration or finance with courses or experience in accounting. However, a bachelor’s degree in almost any field—plus courses in business law and accounting—provides a good general background and may be sufficient to qualify an individual. Because computers are an integral part of most underwriters’ jobs, some coursework with computers is also beneficial. Many employers prefer to hire candidates with several years of related experience in underwriting or insurance. New employees usually start as underwriter trainees or assistant underwriters. They may help collect information on applicants and evaluate routine applications under the supervision of an experienced risk analyst. Property and casualty trainees study claims files to become familiar with factors associated with certain types of losses. Many larger insurers offer work-study training programs, lasting from a few months to a year. As trainees gain experience, they are assigned policy applications that are more complex and cover greater risks.

Relevant Degree/Diploma/Certificate

Bachelors Degree In Business Administration

Quick Facts

Most large insurance companies prefer to hire people who have a college degree in business administration or finance with courses in accounting. Continuing education is necessary for advancement. Employment is expected to grow more slowly than average as the spread of underwriting software increases worker productivity. Job opportunities should be best for those with a background in finance and strong computer and communication skills.

Salary

Median annual earnings of wage and salary insurance underwriters are $52,350 . The middle 50 percent earn between $40,000 and $71,070 a year. The lowest 10 percent earn less than $32,270, while the highest 10 percent earn more than $92,240. Median annual earnings of underwriters working with insurance carriers are $52,900, while underwriters’ median annual earnings in agencies, brokerages, and other insurance related activities are $51,820.

Featured Universities Offering Degrees for this Profession

A.T. Still University of Health Sciences	Abilene Christian University	American InterContinental University Online	American Sentinel University	Antonelli College

Online Universities Offering Degrees for this Profession

A A.T. Still University of Health Sciences Abilene Christian University American InterContinental University Online American Sentinel University Antonelli College Argosy University Online Ashford University B Baker College Online Bay Path College Bellevue University Benedictine University Boise State University Boston University Bowling Green State University Bryant & Stratton College Bush School of Government - Texas A&M University C California Coast University California InterContinental University California State University, Monterey Bay Capella University Chamberlain College of Nursing Chancellor University Clarion University of Pennsylvania Cleveland Institute of Electronics Colorado Technical University Online Columbia Southern University Concord Law School Concordia University Irvine Creighton University Cumberland University D Daniel Webster College DePaul University DeSales University DeVry University Dominican University Drexel University Online Duquesne University E Eastern Kentucky University eCornell Ellis University Everest College Phoenix Everest University Online Everglades University F Fielding Graduate University Florida Hospital College of Health Sciences Florida Tech University Online Fort Hays State University Full Sail University G Golden Gate University Gonzaga University Graceland University Grand Canyon University Gratz College H Harrison College Henley-Putnam University Herzing University Hodges University

I IIA College Independence University Indiana State University Indiana Tech International Academy of Design and Technology Iowa Central College Online Ivy Bridge College J Jacksonville University Jones International University K Kaplan University Keiser University Keller Graduate School of Management Kent State University L LA College Online Lehigh University Lesley University LeTourneau University Lewis University Liberty University Online Lincoln College Online Loyola University New Orleans M Malone University Marylhurst University McKinley College Minnesota School of Business Missouri University of Science and Technology Mountain State University N National American University New England College New England Culinary Institute New Jersey Institute of Technology / NJIT New York Medical College - School of Public Health Nova Southeastern University O Ohio University Oklahoma Wesleyan University P Post University Online S Strayer University Syracuse University T The Art Institute of Pittsburgh Online Division U UMassOnline University Alliance University of Phoenix W Walden University