Underwriting Technician Salary
For Underwriting Technicians, annual average wages total $46K per year. The vast majority of Underwriting Technicians (80 percent) who participated in the survey are women. Medical and dental benefits are awarded to a fair number, and a majority earn vision coverage. Job satisfaction is reported as high by the vast majority of workers. The figures in this rundown are based on the results of PayScale's salary questionnaire.
|Salary||$31,244 - $61,785|
|Bonus||$661 - $5,350|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$30,103 - $60,572|
|Hourly Rate||$11.33 - $21.18|
|Bonus||$661 - $5,350|
|Total Pay (||$30,103 - $60,572|
Job Description for Underwriting Technician
An underwriting technician, sometimes referred to as an underwriting assistant or underwriter, is the person who is responsible for determining whether customers qualify for various policies relating to insurance or loans. Generally, traditional daytime office hours are kept for this position, and little or no travel is required. This person can work with a team of others in the office or be able to work under little supervision.Read More...
Many organizations do require formal education in the form of either an associate’s degree or bachelor’s degree in a field such as business, finance, or administration. However, other organizations do not have formal education requirements. Additional training and certification courses are also available for this position, and many employers will provide it themselves.
An underwriting technician can be employed by a variety of offices, such as medical insurance, life insurance, homeowner insurance, vehicle insurance, property insurance, and financial loans. The responsibilities associated with the position can vary as such. Some typical responsibilities include gathering financial information, gathering statistical information regarding customers, writing quote letters, evaluating a client’s eligibility for insurance or a loan, arranging loan or insurance approval, reviewing various applications, gathering credit history, gathering background information on clients, maintaining confidential records, maintaining accurate files and records, taking inventory of files, and performing various administrative duties. This position requires a person who is highly organized and attentive to detail. This person should typically be able to multitask effectively and efficiently. (Copyright 2017 PayScale.com)
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