Average Experienced Insurance Underwriter Salary in Chicago, Illinois

$70,371
Avg. SalaryShow Hourly Rate
$4,913
Bonus
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The average salary for an Experienced Insurance Underwriter in Chicago, Illinois is $70,371.
10%
$50k
MEDIAN
$70k
90%
$100k
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United States (change)
Salary
$50k - $100k
Bonus
$1k - $6k
Total Pay
$49k - $101k

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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.

Insurance Underwriter Job Listings

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Popular Skills for Insurance Underwriter

Pay by Experience Level for Insurance Underwriter

An early career Insurance Underwriter with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $60,002 based on 16 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of $73,425 based on 7 salaries. In their late career (20 years and higher), employees earn an average total compensation of $87,350.
Employees with Insurance Underwriter in their job title in Philadelphia, Pennsylvania earn an average of 14.6% more than the national average. These job titles also find higher than average salaries in New York, New York (13.7% more) and Los Angeles, California (5.7% more). The lowest salaries can be found in Virginia Beach, Virginia (28.9% less), Houston, Texas (22.6% less) and San Antonio, Texas (9.1% less).

Years of Experience

This data is based on 28 survey responses.
Early Career
57.1%
Mid Career
25.0%
Late Career
17.9%