Avg. Base Salary (USD)
The average salary for an Insurance Underwriter is $59,907
What is the Pay by Experience Level for Insurance Underwriters?
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 $49,593 based on 61 salaries. An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation of $56,400 based on 301 salaries. …Read more
What Do Insurance Underwriters Do?
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 …Read more
- 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.