Average Insurance Underwriter Salary

$64,274
Avg. Base Salary (USD)
10%
$45k
MEDIAN
$64k
90%
$93k

The average salary for an Insurance Underwriter is $64,274 in 2024

Base Salary
$45k - $93k
Bonus
$1k - $14k
Profit Sharing
$357 - $12k
Commission
$10k - $20k
Total Pay
$43k - $99k
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What is the Pay by Experience Level for Insurance Underwriters?

What Do Insurance Underwriters Do?

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.
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How do Insurance Underwriters Rate Their Jobs?

3.6 out of 5
(122)
Highly Satisfied
22Reviews
Based on 122 responses, the job of Insurance Underwriter has received a job satisfaction rating of 3.64 out of 5. On average, Insurance Underwriters are highly satisfied with their job.

FAQs About Insurance Underwriters

What is the highest pay for Insurance Underwriters?

Our data indicates that the highest pay for an Insurance Underwriter is $93k / year

What is the lowest pay for Insurance Underwriters?

Our data indicates that the lowest pay for an Insurance Underwriter is $45k / year

How can Insurance Underwriters increase their salary?

Increasing your pay as an Insurance Underwriter is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are an Insurance Underwriter that oversees more junior Insurance Underwriters, this experience can increase the likelihood to earn more.