The average salary for an Insurance Underwriter is $56,654.
Tell us about your job and pay factors like skills and education Find your market worth with a report tailored to you Negotiate your pay with confidence
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 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.
Job Satisfaction for Insurance Underwriter
Popular Employer Salaries for Insurance Underwriter
The top respondents for the job title Insurance Underwriter are from the companies Liberty Mutual Insurance Group, The Travelers Companies, Inc. and The Chubb Corporation. Reported salaries are highest at The Travelers Companies, Inc. where the average pay is $82,118. Other companies that offer high salaries for this role include Liberty Mutual Insurance Group and American International Group, Inc. (AIG), earning around $72,782 and $65,596, respectively. Amwins Group, Inc. pays the lowest at around $47,724. Selective Insurance Company and Distinguished Programs also pay on the lower end of the scale, paying $55,895 and $60,700, respectively.
Explore the most common career paths for Insurance Underwriter. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner
to research other job paths.
Insurance Underwriter, Commercial Proper...
Somewhat common (8 - 20%)
Insurance Underwriter Job Listings
What Are Popular Skills for Insurance Underwriters?
Skills in Insurance, Risk Management / Risk Control and Commercial are correlated to pay that is above average. Skills that pay less than market rate include Data Analysis and Customer Service.
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 $48,766 based on 83 salaries. An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation of $53,960 based on 395 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of $59,197 based on 275 salaries. An experienced Insurance Underwriter with 10-19 years of experience earns an average total compensation of $60,531 based on 244 salaries. In their late career (20 years and higher), employees earn an average total compensation of $68,803.
Pay Difference by Location
Employees with Insurance Underwriter in their job title in New York, New York earn an average of 33.7% more than the national average. These job titles also find higher than average salaries in San Francisco, California (29.6% more) and Chicago, Illinois (13.2% more). The lowest salaries can be found in Detroit, Michigan (6.1% less).
Years of Experience
This data is based on 1,159 survey responses.