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Insurance Underwriters
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Also Known As:
Account Underwriter
Automobile and Property Underwriter
Commercial Lines Underwriter
Health Underwriter
Life Underwriter
Personal Lines Underwriter
Underwriter
Underwriting Consultant
Wages
Annual wages for Insurance Underwriters in United States
Job Outlook
Below Average
New job opportunities are less likely in the future
United States
2034 Projected Employment
123,700
-3% Change From 2024
Explore Insurance Underwriters video
Tasks you might complete in a day.
- Decline excessive risks.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
- Authorize reinsurance of policy when risk is high.
- 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.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
Subject areas you may need to master.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
- Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
- Therapy and Counseling - Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
- Medicine and Dentistry - Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
- Telecommunications - Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
- Fine Arts - Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
- Administrative - Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
- Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
- Mechanical - Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
- Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
- Physics - Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Biology - Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
- Geography - Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.
- Public Safety and Security - Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
- Philosophy and Theology - Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Foreign Language - Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Food Production - Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
- Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
- History and Archeology - Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
- Sociology and Anthropology - Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
- Chemistry - Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
- Production and Processing - Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
Strengths you may need in this role.
- Mathematics - Using math to solve problems.
- Equipment Maintenance - Planning and doing the basic maintenance on equipment.
- Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
- Systems Analysis - Figuring out how a system should work and how changes in the future will affect it.
- Science - Using scientific rules and strategies to solve problems.
- Programming - Writing computer programs.
- Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
- Instructing - Teaching people how to do something.
- Operation and Control - Using equipment or systems.
- Persuasion - Talking people into changing their minds or their behavior.
- Monitoring - Keeping track of how well people and/or groups are doing in order to make improvements.
- Reading Comprehension - Reading work-related information.
- Writing - Writing things for co-workers or customers.
- Learning Strategies - Using the best training or teaching strategies for learning new things.
- Repairing - Repairing machines or systems using the right tools.
- Management of Material Resources - Managing equipment and materials.
- Management of Personnel Resources - Selecting and managing the best workers for a job.
- Active Learning - Figuring out how to use new ideas or things.
- Active Listening - Listening to others, not interrupting, and asking good questions.
- Installation - Installing equipment, machines, wiring, or computer programs.
- Negotiation - Bringing people together to solve differences.
- Management of Financial Resources - Making spending decisions and keeping track of what is spent.
- Operations Monitoring - Watching gauges, dials, or display screens to make sure a machine is working.
- Operations Analysis - Figuring out what a product or service needs to be able to do.
- Technology Design - Making equipment and technology useful for customers.
- Equipment Selection - Deciding what kind of tools and equipment are needed to do a job.
- Social Perceptiveness - Understanding people's reactions.
- Speaking - Talking to others.
- Service Orientation - Looking for ways to help people.
- Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
- Troubleshooting - Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
- Quality Control Analysis - Testing how well a product or service works.
- Systems Evaluation - Measuring how well a system is working and how to improve it.
- Time Management - Managing your time and the time of other people.
- Coordination - Changing what is done based on other people's actions.
- Written Expression - Communicating by writing.
- Oral Expression - Communicating by speaking.
- Extent Flexibility - Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
- Spatial Orientation - Knowing where things are around you.
- Glare Sensitivity - Seeing something even if there is a glare or very bright light.
- Originality - Creating new and original ideas.
- Number Facility - Adding, subtracting, multiplying, or dividing.
- Oral Comprehension - Listening and understanding what people say.
- Problem Sensitivity - Noticing when problems happen.
- Gross Body Coordination - Moving your arms, legs, and mid-section together while your whole body is moving.
- Response Orientation - Quickly deciding if you should move your hand, foot, or other body part.
- Visual Color Discrimination - Noticing the difference between colors, including shades and brightness.
- Explosive Strength - Jumping, sprinting, or throwing something.
- Hearing Sensitivity - Telling the difference between sounds.
- Peripheral Vision - Seeing something to your side when your are looking ahead.
- Speech Clarity - Speaking clearly.
- Information Ordering - Ordering or arranging things.
- Category Flexibility - Grouping things in different ways.
- Fluency of Ideas - Coming up with lots of ideas.
- Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
- Speed of Limb Movement - Quickly moving your arms and legs.
- Dynamic Flexibility - Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
- Near Vision - Seeing details up close.
- Visualization - Imagining how something will look after it is moved around or changed.
- Reaction Time - Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
- Stamina - Exercising for a long time without getting out of breath.
- Perceptual Speed - Quickly comparing groups of letters, numbers, pictures, or other things.
- Auditory Attention - Paying attention to one sound while there are other distracting sounds.
- Time Sharing - Doing two or more things at the same time.
- Manual Dexterity - Holding or moving items with your hands.
- Night Vision - Seeing at night or under low light.
- Mathematical Reasoning - Choosing the right type of math to solve a problem.
- Deductive Reasoning - Using rules to solve problems.
- Speech Recognition - Recognizing spoken words.
- Depth Perception - Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
- Multilimb Coordination - Using your arms and/or legs together while sitting, standing, or lying down.
- Gross Body Equilibrium - Keeping your balance or staying upright.
- Sound Localization - Noticing the direction that a sound came from.
- Memorization - Remembering words, numbers, pictures, or steps.
- Written Comprehension - Reading and understanding what is written.
- Finger Dexterity - Putting together small parts with your fingers.
- Rate Control - Changing when and how fast you move based on how something else is moving.
- Trunk Strength - Using your lower back and stomach.
- Far Vision - Seeing details that are far away.
- Selective Attention - Paying attention to something without being distracted.
- Dynamic Strength - Exercising for a long time without your muscles getting tired.
- Wrist-Finger Speed - Making fast, simple, repeated movements of your fingers, hands, and wrists.
- Flexibility of Closure - Seeing hidden patterns.
- Arm-Hand Steadiness - Keeping your arm or hand steady.
- Speed of Closure - Quickly knowing what you are looking at.
- Control Precision - Quickly changing the controls of a machine, car, truck or boat.
- Static Strength - Lifting, pushing, pulling, or carrying.
Average Education Attained
Highest level of education earned by people in this career.
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Content sourced from United States Department of Labor Employment and Training Administration ("DOLETA") and the Minnesota Department of Employment & Economic Development ("DEED")