Insurance Underwriter Salary

An Insurance Underwriter earns an average salary of $51,266 per year. A skill in Commercial is associated with high pay for this job.
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$35,664 - $81,310
(Median)
$36K
$51K
$81K
MEDIAN: $51,265
10%
50%
90%

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$11.56 - $29.33
(Median)
$12
$17
$29
MEDIAN: $16.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$29K$58K$87K
Salary
$35,664 - $81,310  
   
Bonus
$0.00 - $10,036  
Profit Sharing
$557 - $9,133  
Commission
$3,402 - $12,335  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$34,837 - $84,643  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 885
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$15$30$45
Hourly Rate
$11.56 - $29.33  
   
Overtime
$0.00 - $39.73  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$30K$60K$90K
Bonus
$0.00 - $10,036  
   
Commission
$3,402 - $12,335  
Profit Sharing
$557 - $9,133  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$34,837 - $84,643  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 86
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Job Description for Insurance Underwriter

An insurance underwriter helps assess risks, analyze payment and premiums related to those risks, and determine if a business or entity should be insured. Insurance underwriters typically work in an insurance company and must have strong accounting and statistical analysis skills.

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Insurance Underwriter Tasks

  • Manage underwriting territory and select new business based on analysis of their profitability.
  • Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
  • Underwrite, submit, approve or pend loans, and present decisions to management.
  • Monitor existing policies for compliance with company guidelines.

Common Career Paths for Insurance Underwriter


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Insurance Underwriter Job Listings

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Pay by Experience Level for Insurance Underwriter

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Pay Difference by Location

Insurance Underwriter Reviews

What is it like working as an Insurance Underwriter?

Insurance Underwriter in Pottstown:
"Commercial Lines Underwriter."
Pros: Good use of analytical skills. Many opportunities to solve unique problems. Great pay with the right company. Easy to find work with experience.
Cons: Sometimes we are required to wear too many hats. Underwriters are now expected to perform marketing tasks, answer accounting questions, help with premium audits or risk control surveys. The companies basically want you to earn your salary so the responsibilities pile up.

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Experience Affects Insurance Underwriter Salaries




National Average
$52,000


Skills That Affect Insurance Underwriter Salaries


Customer Relationship Management (CRM)
up arrow 10%

Insurance
up arrow 2%

Risk Management / Risk Control
up arrow 2%

Financial Analysis
up arrow 2%

National Average
$52,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 176 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
8%
1-4 years
32%
5-9 years
26%
10-19 years
19%
20 years or more
15%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 79%
vision benefits Vision: 62% employee benefits None: 8%
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