The average salary for an Insurance Underwriter in Australia is AU$64,592.
Is Insurance Underwriter your job title? Find out what you should be paid
Use our tool to get a personalized report on your market worth.
AU$47k - AU$87k
AU$2k - AU$16k
AU$48k - AU$89k
Your Market Worth Over Time
How has your pay changed over time for your market? Find out by taking our salary quiz.
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. The underwriter may be asked to assess insurance companies' policy decisions that are outside the role or capability of field agents. They assess risk and either accept, reject, or modify potential policy applications…Read more
Insurance Underwriter Tasks
- Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
- Underwrite, submit, approve or pend coverage amounts and premiums, 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.
Popular Employer Salaries for Insurance Underwriter
Insurance Underwriter Job Listings
Search for more jobs
Popular Skills for Insurance Underwriter
Risk Management / Risk Control
Skills in Insurance and Risk Management / Risk Control are correlated to pay that is above average. Skills that pay less than market rate include Customer Service.
Pay by Experience Level for Insurance Underwriter
An entry-level Insurance Underwriter with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of AU$57,808 based on 5 salaries. An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation of AU$61,931 based on 24 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of AU$67,524 based on 20 salaries. An experienced Insurance Underwriter with 10-19 years of experience earns an average total compensation of AU$68,424 based on 14 salaries. In their late career (20 years and higher), employees earn an average total compensation of AU$115,000.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Insurance Underwriter in their job title in Adelaide, South Australia earn an average of 14.1% more than the national average. These job titles also find higher than average salaries in Brisbane, Queensland (11.5% more) and Melbourne, Victoria (4.6% more). The lowest salaries can be found in Perth, Western Australia (8.2% less) and Sydney, New South Wales (6.8% less).
Years of Experience
This data is based on 68 survey responses.
Related Job Salaries
AU$29k - AU$51k
AU$44k - AU$69k
AU$31k - AU$55k
AU$33k - AU$57k
AU$39k - AU$64k
AU$40k - AU$61k
AU$36k - AU$59k
AU$36k - AU$62k
AU$40k - AU$62k
AU$55k - AU$135k