What does an Underwriter do?
An underwriter works in insurance agencies utilizing data to determine the risks in creating insurance policies. They are found in insurance agencies of all kinds, from general to life insurance. An underwriter will analyze statistical data and decide who can be covered through the company and who is not eligible. They do this by assessing personal background information about the client and using risk assessment strategies.
Individuals employed as an underwriter require keen analytical and mathematical skills. Many have advanced education and hold bachelor's degrees in finance, statistics or other math fields. As the job deals with utilizing personal information to assess potential clients, personal integrity is essential. Additionally, underwriters who succeed in the field complete assignments within established time-frames and accurately forecast risk.
Average Base Pay
“The empowerment I feel everyday is amazing and helps me do my job to the best of my abilities”
“Management is not the best in sharing information and a lot of the day is spent answering phone calls.”
“Acuity hires top talent and I'm fortunate to be surrounded by so many amazing business professionals.”
“There was a good culture and I made lots of friends and felt well managed.”
“Overall a great place to work and by far the best company I've worked for.”
“Asks for way too much and the compensation isn't sufficient for what is required.”
“Commission schedule is such that make far less than potential and what was promised and expected from start.”
“Employees are given opportunity to show their strengths and supported in both personal and career development.”
Frequently asked questions about the roles and responsibilities of an underwriter
When working as an underwriter, the most common skills you will need to perform your job and for career success are Microsoft Office Suite, Written Communication, Renewal, Negotiation, and Excellent Organizational.
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The most common qualifications to become an underwriter include a minimum of a Bachelor's Degree and an average of 0 - 1 years of experience not including years spent in education and/or training.