|Quick Facts: Insurance Underwriters|
|2012 Median Pay||
$62,870 per year
$30.22 per hour
|Entry-Level Education||Bachelor’s degree|
|Work Experience in a Related Occupation||None|
|On-the-job Training||Moderate-term on-the-job training|
|Number of Jobs, 2012||106,300|
|Job Outlook, 2012-22||-6% (Decline)|
|Employment Change, 2012-22||-6,500|
Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.
Insurance underwriters work indoors in offices. Most work full time.
Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough. Certification is necessary for advancement to senior underwriter and underwriter manager positions.
The median annual wage for insurance underwriters was $62,870 in May 2012.
Employment of insurance underwriters is projected to decline 6 percent from 2012 to 2022. Automated underwriting software allows workers to process applications more quickly than before, reducing the need for underwriters.
Compare the job duties, education, job growth, and pay of insurance underwriters with similar occupations.
Learn more about insurance underwriters by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.