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.
Read More
$38,604 - $84,953
$39K
$55K
$85K
MEDIAN: $54,638
10%
50%
90%

Add this chart to your site: 640px    300px

$12.03 - $26.97
$12
$18
$27
MEDIAN: $18.14
10%
50%
90%

Add this chart to your site: 640px    300px

$0$87K
Salary $38,604 - $84,953
Bonus $481.44 - $11,613
Profit Sharing $0.00 - $6,600
Commission $1,163 - $14,950
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).
)
$36,129 - $87,620
  • Country: United States
  • Currency: USD
  • Updated: 22 Oct 2017
  • Individuals Reporting: 732
Hourly Data $0$43
Hourly Rate $12.03 - $26.97
Overtime $1.16 - $44.00
Annual Data $0$87K
Bonus $481.44 - $11,613
Commission $1,163 - $14,950
Profit Sharing $0.00 - $6,600
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).
)
$36,129 - $87,620
  • Country: United States
  • Currency: USD
  • Updated: 22 Oct 2017
  • Individuals Reporting: 111

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.

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.

Common Career Paths for Insurance Underwriter


Add this chart to your site:   640px 640px    300px 300px

Insurance Underwriter Job Listings

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: $54,156

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 Saint Paul:
Pros: It's challenging enough to remain interesting without getting discouraging.
Cons: There is always more to do and never quite enough time to feel truly caught up.

Insurance Underwriter in Visalia:
"Its hard even challenging at times."
Pros: It gives me confidance inself to know I can do well in such a skilled field.
Cons: Sitting in front of a screen all day long and the strees of deadlines and quotas.

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
60 %
Male
40 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 152 votes.
Less than 1 year
7%
1-4 years
34%
5-9 years
20%
10-19 years
24%
20 years or more
14%

Experience Affects Insurance Underwriter Salaries

▲33%

▲11%

▼0%

National Average
$54,000

▼11%

Skills That Affect Insurance Underwriter Salaries

Underwriting
▲45%


▲6%

Customer Relationship Management (CRM)
▲5%

National Average
$54,000


▼3%

Customer Service
▼10%

Data Analysis
▼13%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 152 votes.

Gender

Female
60 %
Male
40 %

Years of Experience

Less than 1 year
7%
1-4 years
34%
5-9 years
20%
10-19 years
24%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 74%
vision benefits
Vision: 65%
no benefits
None: 13%