The average salary for an Insurance Underwriter in United Kingdom is £26,925.
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.
£19k - £60k
£582 - £14k
£325 - £35k
£20k - £64k
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.
Insurance Underwriter Job Listings
Search for more jobs
Popular Skills for Insurance Underwriter
Skills in Commercial, Risk Management / Risk Control and Data Analysis are correlated to pay that is above average. Skills that pay less than market rate include Customer Service and Insurance.
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 £21,255 based on 18 salaries. An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation of £23,880 based on 45 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of £27,011 based on 40 salaries. An experienced Insurance Underwriter with 10-19 years of experience earns an average total compensation of £28,858 based on 38 salaries. In their late career (20 years and higher), employees earn an average total compensation of £33,836.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Insurance Underwriter in their job title in London, England: London earn an average of 32.1% more than the national average. The lowest salaries can be found in Perth, Scotland: Perth and Kinross (25.7% less), Glasgow, Scotland: Glasgow (17.5% less) and Manchester, England: Manchester (15.5% less).
Years of Experience
This data is based on 173 survey responses.