The average salary for an Experienced Insurance Underwriter in Philadelphia, Pennsylvania is $80,680.
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Job Description for Insurance Underwriter
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.
Insurance Underwriter Job Listings
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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 $60,252 based on 9 salaries. A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation of $65,000 based on 5 salaries.
Pay Difference by Location
Learn more about cost of living by city.
Employees with .NET Software Developer / Programmer in these locations earn less than the national average. The lowest salaries can be found in Virginia Beach, Virginia (38.0% less), Houston, Texas (32.4% less) and San Antonio, Texas (20.7% less).
Years of Experience
This data is based on 14 survey responses.
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