Insurance Underwriter
Insurance underwriters evaluate insurance applications and determine coverage amounts and premiums based on risk analysis. They review financial statements, inspection reports, and actuarial data to make decisions on property, casualty, life, and health policies. The BLS reports a median salary of $77,860 with a -2% projected decline as automation increases. A bachelor's degree in finance, business, or a related field is required.
A Day in the Life
A typical day starts by reviewing a queue of new insurance applications. The morning involves analyzing a commercial property application, checking inspection reports, and calculating the appropriate premium. After lunch, the underwriter meets with an insurance agent to discuss a complex risk that needs special terms. The afternoon includes updating risk guidelines in the underwriting system and reviewing renewal policies that are coming due.
Key Stats
Education
Bachelor's Degree
Salary Range
Entry: $52,000
Median: $77,860
Senior: $110,000
Job Growth