Average Insurance Underwriter with Insurance Skills Salary

$55,362
Avg. SalaryShow Hourly Rate
$3,478
Bonus
$8,000
Commission
$2,980
Profit Sharing
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The average salary for an Insurance Underwriter with Insurance skills is $55,362.
10%
$40k
MEDIAN
$55k
90%
$85k
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United States (change)
Salary
$40k - $85k
Bonus
$512 - $10k
Profit Sharing
$508 - $7k
Commission
$4k - $87k
Total Pay
$39k - $87k

Your Market Worth Over Time

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Job Description for Insurance Underwriter

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.
The top respondents for the job title Insurance Underwriter are from the companies Liberty Mutual Insurance Group, The Travelers Companies, Inc. and Selective Insurance Company. Reported salaries are highest at The Travelers Companies, Inc. where the average pay is $72,000. Other companies that offer high salaries for this role include Liberty Mutual Insurance Group and The Hanover Insurance Company, earning around $71,951 and $57,698, respectively. State Farm Insurance Company pays the lowest at around $47,000. Selective Insurance Company and The Hartford Financial Services Group, Inc. also pay on the lower end of the scale, paying $54,756 and $57,000, respectively.

Insurance Underwriter Job Listings

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Popular Skills for Insurance Underwriter

Skills in Risk Management / Risk Control, Commercial, Financial Analysis and Data Analysis are correlated to pay that is above average. Skills that pay less than market rate include Customer Service.

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 $46,696 based on 44 salaries. An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation of $52,166 based on 292 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of $58,151 based on 189 salaries. An experienced Insurance Underwriter with 10-19 years of experience earns an average total compensation of $59,650 based on 200 salaries. In their late career (20 years and higher), employees earn an average total compensation of $68,362.
Employees with Insurance Underwriter in their job title in Boston, Massachusetts earn an average of 31.2% more than the national average. These job titles also find higher than average salaries in New York, New York (27.0% more) and Los Angeles, California (20.7% more). The lowest salaries can be found in Houston, Texas (6.3% less) and Charlotte, North Carolina (4.6% less).

Years of Experience

This data is based on 845 survey responses.
Entry Level
5.2%
Early Career
34.6%
Mid Career
22.4%
Experienced
23.7%
Late Career
14.2%