Average Experienced Insurance Underwriter Salary

$60,271
Avg. SalaryShow Hourly Rate
$4,900
Bonus
$10,500
Commission
$4,913
Profit Sharing
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The average salary for an Experienced Insurance Underwriter is $60,271.
10%
$43k
MEDIAN
$60k
90%
$94k
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United States (change)
Salary
$43k - $94k
Bonus
$997 - $15k
Profit Sharing
$2k - $10k
Commission
$5k - $31k
Total Pay
$43k - $100k

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.

Popular Employer Salaries for Insurance Underwriter

Insurance Underwriter Job Listings

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Popular Skills for Insurance Underwriter

Skills in Insurance, Commercial, Risk Management / Risk Control and Financial 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 $45,687 based on 99 salaries. An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation of $52,607 based on 476 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of $58,539 based on 296 salaries. In their late career (20 years and higher), employees earn an average total compensation of $69,607.
Employees with Insurance Underwriter in their job title in Philadelphia, Pennsylvania earn an average of 31.5% more than the national average. These job titles also find higher than average salaries in New York, New York (28.5% more) and Los Angeles, California (27.5% more). The lowest salaries can be found in Houston, Texas (14.7% less).

Years of Experience

This data is based on 1,072 survey responses.
Entry Level
9.2%
Early Career
44.4%
Mid Career
27.6%
Late Career
18.8%