The average salary for an Early-Career Insurance Underwriter in Australia is AU$62,368.
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AU$45k - AU$80k
AU$2k - AU$10k
AU$45k - AU$81k
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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. 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.
Insurance Underwriter Job Listings
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Popular Skills for Insurance Underwriter
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. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of AU$67,249 based on 19 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 Melbourne, Victoria earn an average of 5.4% more than the national average. The lowest salaries can be found in Perth, Western Australia (15.0% less) and Sydney, New South Wales (3.5% less).
Years of Experience
This data is based on 43 survey responses.
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