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What are the Different Insurance Underwriter Jobs?

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  • Written By: Harriette Halepis
  • Edited By: Bronwyn Harris
  • Last Modified Date: 27 August 2018
  • Copyright Protected:
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    Conjecture Corporation
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Insurance underwriter jobs tend to fall into three basic areas. Most underwriters focus upon property, health, or life insurance underwriter jobs. All three of these trades require extensive analytical and mathematical skills that must be mastered. While often in the shadows, underwriters are often the backbone of a company's financial department.

New insurance underwriters begin their careers by working for a group or individual insurer. Basic underwriting work consists of collecting customer information and analyzing data. As an underwriter's career progresses, more complex cases are assigned to him or her. Senior underwriters handle the most difficult insurance cases, which often require extensive technical knowledge.

In addition to policyholder case files, underwriters are frequently asked to review insurance policy changes, determine the financial effectiveness of new insurance products, and calculate the impact of policies and products upon insurance policyholders. In short, underwriters are responsible for almost every financial aspect of an insurance company.

Successful insurance underwriters are often familiar with a particular niche that other insurance employees are not familiar with. Top underwriters tend to know a great deal about laws and technicalities that elude most people. While insurance underwriter jobs are highly mathematical, most junior underwriters do not have a degree in the field of mathematics.

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Those with a business degree can often secure insurance underwriter jobs. In addition, some liberal arts graduates can also find underwriting work if they have successfully completed accounting, math, and business courses. Aside from schooling, personality has a lot to do with becoming a well-paid underwriter.

Often, underwriters are challenged by clients and insurance companies alike. Thus, those underwriters with a vast amount of confidence often perform the best. Underwriters must be able to back up their calculations, and they are often required to perform various client-related tasks. Claims adjusters, service representatives, agents, and policyholders all seek the advice and opinion of an underwriter, which requires underwriters to have excellent interpersonal skills.

Since insurance underwriter jobs are hard to attain, well-qualified underwriters are often in high demand by many insurance companies. Underwriters who make a point of continuing their education while employed by an insurance company will often see a rise in both position and salary. It is not uncommon for a junior underwriter to increase their position within a few years of working with a company. Underwriters can be promoted to the position of senior underwriter or supervisor.

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