Insurance Underwriters
Tasks Include:
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- 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.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Authorize reinsurance of policy when risk is high.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
The data sources for the information displayed here include: O*NET™; US Department of Labor (BLS); Virginia Workforce Connection. (Using onet28)
Projections Quick View:
Virginia: +1.9%
National: -4.5%
Education
Bachelor's Degree
Job Zone:
Four: Considerable Preparation Needed
Income Range:
Highest ($50,000 and up)
Median Earnings:
National
$76,230.00
State
$62,990.00
Regional
Insurance Underwriters
Description
Career Cluster: | Finance |
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Education
Required Level of Education
- Bachelor's Degree = 70%
- High School Diploma - or the equivalent (for example, GED) = 10%
- Associate's Degree (or other 2-year degree) = 10%
- Some College Courses = 6.67%
- Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master. = 3.33%
Related Work Experience
- None = 40%
- Over 2 years, up to and including 4 years = 26.67%
- Over 1 year, up to and including 2 years = 20%
- Over 4 years, up to and including 6 years = 10%
- Over 6 years, up to and including 8 years = 3.33%
On-Site or In-Plant Training
- Over 6 months, up to and including 1 year = 30%
- None = 26.67%
- Over 3 months, up to and including 6 months = 23.33%
- Over 1 year, up to and including 2 years = 10%
- Over 1 month, up to and including 3 months = 6.67%
- Up to and including 1 month = 3.33%
On-the-Job Training
- Over 3 months, up to and including 6 months = 36.67%
- Over 6 months, up to and including 1 year = 33.33%
- Over 1 year, up to and including 2 years = 16.67%
- Over 1 month, up to and including 3 months = 10%
- Over 2 years, up to and including 4 years = 3.33%
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Tasks
Core Tasks Include:
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- 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.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Authorize reinsurance of policy when risk is high.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Tools and Technology
Tools Include:
- Calculators or accessories (10-key calculators)
- Desktop computers
- Notebook computers
- Personal computers
Technologies Include:
- Data base user interface and query software
- Database software
- Document management software
- FileNet Content Manager
- Enterprise resource planning ERP software
- Anodas Software Limited Phoenix
- Consilience Software Maven Insurance Automation Suite
- CSC nbAccelerator
- Fair Isaac Enterprise Decision Management for Insurance
- QualCorp FormsPlus
- SIS SEMCI PARTNER
- Skywire Software InsBridge
- Financial analysis software
- Fiserv Advanced Underwriting
- LabOne NET
- NIIT Technologies WinRisk
- RGA AURA
- RGA Facultative Application Console
- Valen Technologies Risk Manager
- Internet browser software
- Web browser software
- Presentation software
- Microsoft PowerPoint
- Spreadsheet software
- Microsoft Excel
- Spreadsheet software
- Word processing software
- Microsoft Word
- Word processing software
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Special Requirements
For More Information, Contact:
Virginia State Corporation Commission
Bureau Of Insurance
Tyler Building
1300 E. Main St.
Richmond, VA 23219
Phone: 804.371.9967
Phone: 800.552.7945
TTY: 804.371.9206
http://www.state.va.us/scc/
The data sources for the information displayed here include: Virginia Career VIEW Research. (Using onet28)
Insurance Underwriters
Additional Resources
Information about a career as an insurance underwriter is available from the home offices of many life health and property-casualty insurance companies.
Information about the property-casualty insurance field can be obtained by contacting:
The Insurance Information Institute
110 William St.
New York, NY 10038
http://www.iii.org
Information on careers in the health insurance field can be obtained from:
Health Insurance Association of America
555 13th St. NW.
Suite 600 East
Washington, DC 20004-1109
http://www.hiaa.org
Information on careers in the life insurance field can be obtained from:
LIMRA International
P.O. Box 203
Hartford, CT 06141
http://www.limra.com
Information on the underwriting function and the CPCU and AU designations can be obtained from:
The American Institute for Chartered Property and Casualty Underwriters/Insurance Institute of America
720 Providence Rd.
P.O. Box 3016
Malvern, PA 19355-0716
http://www.aicpcu.org
Information on the CLU and RHU designations can be obtained from:
The American College
270 South Bryn Mawr Ave.
Bryn Mawr, PA 19010-2196
http://www.theamericancollege.edu/
The data sources for the information displayed here include: Virginia Career VIEW Research. (Using onet28)
Insurance Underwriters
Knowledge
% | Subject | Description |
---|---|---|
75.00 | English Language | Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. |
72.50 | 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. |
56.75 | Mathematics | Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications. |
54.25 | 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. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Skills
% | Subject | Description |
---|---|---|
68.75 | Reading Comprehension | Understanding written sentences and paragraphs in work-related documents. |
68.75 | Active Listening | Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. |
68.75 | Writing | Communicating effectively in writing as appropriate for the needs of the audience. |
68.75 | Critical Thinking | Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems. |
65.50 | Speaking | Talking to others to convey information effectively. |
62.50 | Judgment and Decision Making | Considering the relative costs and benefits of potential actions to choose the most appropriate one. |
53.00 | Active Learning | Understanding the implications of new information for both current and future problem-solving and decision-making. |
53.00 | Complex Problem Solving | Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. |
50.00 | Monitoring | Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action. |
50.00 | Social Perceptiveness | Being aware of others' reactions and understanding why they react as they do. |
50.00 | Coordination | Adjusting actions in relation to others' actions. |
50.00 | Service Orientation | Actively looking for ways to help people. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Abilities
% | Subject | Description |
---|---|---|
72.00 | Written Comprehension | The ability to read and understand information and ideas presented in writing. |
68.75 | Written Expression | The ability to communicate information and ideas in writing so others will understand. |
68.75 | Inductive Reasoning | The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). |
65.50 | Oral Expression | The ability to communicate information and ideas in speaking so others will understand. |
62.50 | Oral Comprehension | The ability to listen to and understand information and ideas presented through spoken words and sentences. |
62.50 | Deductive Reasoning | The ability to apply general rules to specific problems to produce answers that make sense. |
59.50 | Problem Sensitivity | The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem. |
59.50 | Speech Clarity | The ability to speak clearly so others can understand you. |
56.25 | Category Flexibility | The ability to generate or use different sets of rules for combining or grouping things in different ways. |
56.25 | Near Vision | The ability to see details at close range (within a few feet of the observer). |
56.25 | Speech Recognition | The ability to identify and understand the speech of another person. |
53.00 | Information Ordering | The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations). |
50.00 | Flexibility of Closure | The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Work Activities
% | Subject | Description |
---|---|---|
95.00 | Getting Information | Observing, receiving, and otherwise obtaining information from all relevant sources. |
90.75 | Making Decisions and Solving Problems | Analyzing information and evaluating results to choose the best solution and solve problems. |
85.75 | Analyzing Data or Information | Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts. |
85.25 | Working with Computers | Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. |
82.75 | Establishing and Maintaining Interpersonal Relationships | Developing constructive and cooperative working relationships with others, and maintaining them over time. |
78.25 | Processing Information | Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. |
76.75 | Communicating with People Outside the Organization | Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail. |
75.75 | Organizing, Planning, and Prioritizing Work | Developing specific goals and plans to prioritize, organize, and accomplish your work. |
75.00 | Communicating with Supervisors, Peers, or Subordinates | Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. |
72.50 | Evaluating Information to Determine Compliance with Standards | Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards. |
70.75 | Updating and Using Relevant Knowledge | Keeping up-to-date technically and applying new knowledge to your job. |
70.75 | Documenting/Recording Information | Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form. |
69.25 | Identifying Objects, Actions, and Events | Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events. |
68.25 | Resolving Conflicts and Negotiating with Others | Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others. |
61.25 | Interpreting the Meaning of Information for Others | Translating or explaining what information means and how it can be used. |
58.50 | Judging the Qualities of Objects, Services, or People | Assessing the value, importance, or quality of things or people. |
58.50 | Selling or Influencing Others | Convincing others to buy merchandise/goods or to otherwise change their minds or actions. |
57.25 | Performing Administrative Activities | Performing day-to-day administrative tasks such as maintaining information files and processing paperwork. |
50.00 | Monitoring Processes, Materials, or Surroundings | Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Work Styles
% | Subject | Description |
---|---|---|
95.00 | Integrity | Job requires being honest and ethical. |
91.75 | Attention to Detail | Job requires being careful about detail and thorough in completing work tasks. |
89.25 | Analytical Thinking | Job requires analyzing information and using logic to address work-related issues and problems. |
83.25 | Dependability | Job requires being reliable, responsible, and dependable, and fulfilling obligations. |
76.75 | Achievement/Effort | Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. |
75.75 | Cooperation | Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. |
75.75 | Stress Tolerance | Job requires accepting criticism and dealing calmly and effectively with high-stress situations. |
75.00 | Self-Control | Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. |
72.50 | Initiative | Job requires a willingness to take on responsibilities and challenges. |
70.00 | Adaptability/Flexibility | Job requires being open to change (positive or negative) and to considerable variety in the workplace. |
68.25 | Persistence | Job requires persistence in the face of obstacles. |
66.75 | Independence | Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Work Values
% | Subject | Description |
---|---|---|
66.67 | Relationships | Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service. |
66.67 | Independence | Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy. |
61.17 | Support | Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical. |
55.50 | Achievement | Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement. |
50.00 | Working Conditions | Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions. |
50.00 | Recognition | Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Work Context
% | Subject | Description |
---|---|---|
100.00 | Electronic Mail | How often do you use electronic mail in this job? |
98.60 | Spend Time Sitting | How much does this job require sitting? |
95.80 | Telephone | How often do you have telephone conversations in this job? |
91.40 | Time Pressure | How often does this job require the worker to meet strict deadlines? |
91.40 | Indoors, Environmentally Controlled | How often does this job require working indoors in environmentally controlled conditions? |
90.00 | Contact With Others | How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? |
87.60 | Face-to-Face Discussions | How often do you have to have face-to-face discussions with individuals or teams in this job? |
86.60 | Frequency of Decision Making | How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization? |
86.00 | Importance of Being Exact or Accurate | How important is being very exact or highly accurate in performing this job? |
86.00 | Freedom to Make Decisions | How much decision making freedom, without supervision, does the job offer? |
81.40 | Structured versus Unstructured Work | To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals? |
80.60 | Letters and Memos | How often does the job require written letters and memos? |
78.00 | Impact of Decisions on Co-workers or Company Results | What results do your decisions usually have on other people or the image or reputation or financial resources of your employer? |
76.00 | Work With Work Group or Team | How important is it to work with others in a group or team in this job? |
71.40 | Deal With External Customers | How important is it to work with external customers or the public in this job? |
70.60 | Importance of Repeating Same Tasks | How important is repeating the same physical activities (e.g., key entry) or mental activities (e.g., checking entries in a ledger) over and over, without stopping, to performing this job? |
70.40 | Frequency of Conflict Situations | How often are there conflict situations the employee has to face in this job? |
66.60 | Level of Competition | To what extent does this job require the worker to compete or to be aware of competitive pressures? |
65.40 | Deal With Unpleasant or Angry People | How frequently does the worker have to deal with unpleasant, angry, or discourteous individuals as part of the job requirements? |
64.00 | Spend Time Making Repetitive Motions | How much does this job require making repetitive motions? |
61.40 | Physical Proximity | To what extent does this job require the worker to perform job tasks in close physical proximity to other people? |
58.00 | Consequence of Error | How serious would the result usually be if the worker made a mistake that was not readily correctable? |
57.40 | Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or Controls | How much does this job require using your hands to handle, control, or feel objects, tools or controls? |
57.40 | Degree of Automation | How automated is the job? |
56.00 | Coordinate or Lead Others | How important is it to coordinate or lead others in accomplishing work activities in this job? |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Job Zone Four: Considerable Preparation Needed
- Overall Experience
- A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
- Job Training
- Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
- Examples
- Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, conservation scientists, art directors, and cost estimators.
- Education
- Most of these occupations require a four-year bachelor's degree, but some do not.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Earnings Benefits*
Region | Entry Level | Median | Experienced |
---|---|---|---|
United States | $47,340.00 | $76,230.00 | $100,790.00 |
Virginia | $48,000.00 | $62,990.00 | $80,640.00 |
Region | Entry Level | Median | Experienced |
Alexandria/Arlington | $51,683.16 | $64,277.34 | $70,275.11 |
Bay Consortium | $51,554.66 | $64,759.73 | $76,491.12 |
Capital Region Workforce Partnership | $52,236.94 | $64,364.03 | $82,190.07 |
Central VA/Region2000 | $41,564.17 | $57,606.48 | $71,878.32 |
Crater Area | No Data | No Data | No Data |
Greater Peninsula | $49,392.57 | $63,840.85 | $101,837.56 |
Hampton Roads | $48,787.79 | $63,027.00 | $84,630.58 |
New River/Mt. Rogers | $42,148.54 | $59,155.63 | $81,981.00 |
Northern Virginia | $55,372.99 | $76,390.15 | $103,885.43 |
Piedmont Workforce | $53,664.74 | $80,939.72 | $100,377.13 |
Shenandoah Valley | No Data | No Data | No Data |
South Central | No Data | No Data | No Data |
Southwestern Virginia | No Data | No Data | No Data |
West Piedmont | No Data | No Data | No Data |
Western Virginia | $47,018.35 | $60,569.15 | $75,348.88 |
* Earnings Calculations:
Regional Earnings:
Entry = Annual mean of the lower 1/3 wage distribution;
Experienced = Annual mean of the upper 2/3 wage distribution.
National and State Earnings:
Entry = Annual 10th percentile wage;
Experienced = Annual 75th percentile wage.
The data sources for the information displayed here include: US Department of Labor (BLS); Virginia Workforce Connection. (Using onet28)
Insurance Underwriters
Employment Projections
Current | Projected | % Change | |
---|---|---|---|
United States | 123,300 | 117,800 | -4.5% |
Virginia | 2,245 | 2,288 | +1.9% |
Region | Current* | Projected | % Change |
Alexandria/Arlington | No Data | No Data | No Data |
Bay Consortium | No Data | No Data | No Data |
Capital Region Workforce Partnership | No Data | No Data | No Data |
Central VA/Region2000 | No Data | No Data | No Data |
Crater Area | No Data | No Data | No Data |
Greater Peninsula | No Data | No Data | No Data |
Hampton Roads | No Data | No Data | No Data |
New River/Mt. Rogers | No Data | No Data | No Data |
Northern Virginia | No Data | No Data | No Data |
Piedmont Workforce | No Data | No Data | No Data |
Shenandoah Valley | No Data | No Data | No Data |
South Central | No Data | No Data | No Data |
Southwestern Virginia | No Data | No Data | No Data |
West Piedmont | No Data | No Data | No Data |
Western Virginia | No Data | No Data | No Data |
The data sources for the information displayed here include: US Department of Labor (BLS); Virginia Workforce Connection. (Using onet28)
Insurance Underwriters
Related Occupations
Related Occupations
The related occupations here have similar general capabilities and interests; career explorers may also be interested in the related occupations:- Financial Risk Specialists
- Insurance Sales Agents
- Loan Officers
- Credit Analysts
- Personal Financial Advisors
- Claims Adjusters, Examiners, and Investigators
- Securities, Commodities, and Financial Services Sales Agents
- Loan Interviewers and Clerks
- Financial and Investment Analysts
- Credit Counselors
- Insurance Claims and Policy Processing Clerks
- Credit Authorizers, Checkers, and Clerks
- Brokerage Clerks
- Actuaries
- Title Examiners, Abstractors, and Searchers
- Financial Managers
- Financial Examiners
- Investment Fund Managers
- Appraisers and Assessors of Real Estate
- Accountants and Auditors
Careers in Insurance Pathway:
- Actuaries
- Claims Adjusters, Examiners, and Investigators
- Insurance Appraisers, Auto Damage
- Insurance Claims and Policy Processing Clerks
- Insurance Sales Agents
- Insurance Underwriters
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
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Overview
Occupations
The data sources for the information displayed here include: New York State Department of Labor; New Jersey Department of Labor; California Occupational Information Coordinating Committee; CareerOneStop. (Using onet28)
Insurance Underwriters
Proficiency Ratings
These proficiencies are scored on a scale from 1 to 5 with 1 being not
important to the job and 5 being extremely important to the job.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Titles
- Account Underwriter
- Automobile and Property Underwriter
- Bond Underwriter
- Commercial Lines Underwriter
- Commercial Underwriter
- Customer Service Representative
- Health Underwriter
- Insurance Analyst
- Insurance Underwriter
- Insurance Writer
- Life Underwriter
- Marine Underwriter
- Personal Lines Underwriter
- Property Underwriter
- Reviewer
- Reviewer Sales
- Risk Analyst
- Underwriter
- Underwriting Account Representative
- Underwriting Consultant
- Underwriting Director
- Underwriting Manager
- Underwriting Service Representative
The data sources for the information displayed here include: O*NET™. (Using onet28)
Insurance Underwriters
Related Schools
- George Mason University
- Roanoke College
The data sources for the information displayed here include: O*NET™. (Using onet28)