Insurance Underwriter Salary

The average salary for an Insurance Underwriter is $53,359 per year. The skills that increase pay for this job the most are Underwriting and Financial Analysis. Experience has a moderate effect on income for this job.
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$38,736 - $82,922
$39K
$54K
$83K
MEDIAN: $53,870
10%
50%
90%

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$12.07 - $27.05
$12
$19
$27
MEDIAN: $18.65
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$29K$58K$87K
Salary
$38,736 - $82,922  
   
Bonus
$480.67 - $11,997  
Profit Sharing
$0.00 - $6,249  
Commission
$152.05 - $15,152  
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).
)
$36,226 - $85,367  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 733
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$15$30$45
Hourly Rate
$12.07 - $27.05  
   
Overtime
$1.44 - $44.84  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$30K$60K$90K
Bonus
$480.67 - $11,997  
   
Commission
$152.05 - $15,152  
Profit Sharing
$0.00 - $6,249  
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).
)
$36,226 - $85,367  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 108

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • Underwrite, submit, approve or pend loans, and present decisions to management.
  • Monitor existing policies for compliance with company guidelines.
  • 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.

Common Career Paths for Insurance Underwriter


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Insurance Underwriter Job Listings

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Popular Employer Salaries for Insurance Underwriter

Popular Skills for Insurance Underwriter

Pay by Experience Level for Insurance Underwriter

Pay by Experience for an Insurance Underwriter has a positive trend. An entry-level Insurance Underwriter with less than 5 years of experience can expect to earn an average total compensation of $48,000 based on 399 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Underwriter with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $54,000 based on 216 salaries. An experienced Insurance Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $60,000 based on 224 salaries. An Insurance Underwriter with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $72,000 based on 114 salaries.

Pay Difference by Location

National Average: $53,062

Larger city markers indicate a job is popular in that location.

Insurance Underwriter Reviews

Q: 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.

Related Job Salaries

Key Stats for Insurance Underwriter

Gender

Female
61 %
Male
39 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 129 votes.
Less than 1 year
7%
1-4 years
34%
5-9 years
20%
10-19 years
24%
20 years or more
15%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Underwriter Salaries

▲36%

▲13%

▲2%

National Average
$53,000

▼9%

Skills That Affect Insurance Underwriter Salaries

Underwriting
▲48%


▲9%

Customer Relationship Management (CRM)
▲7%


National Average
$53,000

▼1%

Customer Service
▼8%

Data Analysis
▼12%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 129 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
7%
1-4 years
34%
5-9 years
20%
10-19 years
24%
20 years or more
15%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 71%
vision benefits
Vision: 64%
no benefits
None: 14%
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