2017 Insurance Underwriters
Median Pay: US$65,040
Entry Level: Bachelor's degree
Summary
Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.
Duties

Insurance underwriters typically do the following:

  • Analyze information stated on insurance applications
  • Determine the risk involved in insuring a client
  • Screen applicants on the basis of set criteria
  • Evaluate recommendations from underwriting software
  • Contact field representatives, medical personnel, and others to obtain further information
  • Decide whether to offer insurance
  • Determine appropriate premiums and amounts of coverage

Underwriters are the main link between an insurance company and an insurance agent. Insurance underwriters use computer software programs to determine whether to approve an applicant. They take specific information about a client and enter it into a program. The program then provides recommendations on coverage and premiums. Underwriters evaluate these recommendations and decide whether to approve or reject the application. If a decision is difficult, they may consult additional sources, such as medical documents and credit scores.

Underwriters analyze the risk factors appearing on an application. For instance, if an applicant reports a previous bankruptcy, the underwriter must determine whether that information is relevant to the current policy. The underwriter would consider how far in the past the bankruptcy occurred and how the applicant's financial situation has changed since the applicant filed for bankruptcy.

Insurance underwriters must achieve a balance between risky and cautious decisions. If underwriters allow too much risk, the insurance company will pay out too many claims. But if they don't approve enough applications, the company will not make enough money from premiums.

Most insurance underwriters specialize in one of three broad fields: life, health, and property and casualty. Although the job duties in each field are similar, the criteria that underwriters use vary. For example, for someone seeking life insurance, underwriters consider age and financial history. For someone applying for car insurance (a form of property and casualty insurance), underwriters consider the person's driving record.

Within the broad field of property and casualty, underwriters may specialize even further, into commercial (business) insurance or personal insurance. They may also specialize by the type of policy, such as insuring automobiles, boats (marine insurance), or homes (homeowners' insurance).

Account Executive-Renewal

Type: Full Time, Full Time Alumnus
Marketing StatementPhiladelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries. We have been in operation since 1962 and are nationally recognized as a member...
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Underwriter - Cyber & Technology

Type: Full Time, Full Time Alumnus
We have an exciting opportunity to join Beazley's Cyber & Executive Risk Team in Seattle - which is a new location for Beazley. The underwriter will focus on Technology E&O and stand alone cyber in the middle market space. The ideal candidate will be heavily involved in new business...
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Seattle, WA

Assistant Account Mgr - Commercial Lines

Type: Full Time, Full Time Alumnus
General Description: Assist Sales Executive and Account Manager in servicing and retention of Commercial clients. Works to ensure client retention goals are met by responding promptly to requests from Sales Executive and Account Manager. Required to perform essential functions and meet service...
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Agency Services Representative Torrent

Type: Full Time, Full Time Alumnus
Agency Services Representative - Torrent TechnologiesTorrent Technologies, a Division of Marsh & McLennan Companies has a great opportunity to join our team as an Agency Services Representative. The Agency Service Representative takes calls from insurance agents, enrolls new agents into NFIP...
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Overland Park, KS

Insurance Underwriter - Customer Service

Type: Full Time, Full Time Alumnus
Insurance Underwriter - Customer ServicePrinceton, NJRecent college graduates welcome to apply!CURE Auto Insurance is a leading direct writer of auto insurance in New Jersey and Pennsylvania. Due to our continuing growth and success, CURE is seeking full-time Customer Service Underwriters to join...
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Surety underwriter

Type: Full Time, Full Time Alumnus
AmericasMiami United States (US)|Surety underwriterPermanentUnderwriting About SCORSCOR is the 5th largest Reinsurance Company worldwide, following a profit-driven underwriting policy and practising selectively across all branches of reinsurance. Our specialist teams operate in over 120 countries,...
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Miami, FL

Operations - CL Operations Associate

Type: Full Time, Full Time Alumnus
Are you looking for a new challenge with a Best Place to Work Company? Arbella is seeking to grow our Commercial Lines business and strengthen our competiveness in the marketplace. In this role, you will proficiently process our commercial lines policies and partner closely with our underwriters to...
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Binding Authority Intern

Type: Internship
The Binding Authority Intern will get direct hands on exposure to all aspects of a primary insurance company: underwriting, product development, processes, claims, etc.Responsibilities:Support underwriters with sysem entries for new and renewal businessSupport report building needsSupport product...
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Underwriting Assistant II

Type: Full Time, Full Time Alumnus
Underwriting Assistant - TorrentTorrent Technologies, a Division of Marsh & McLennan Companies has a great opportunity to join our Underwriting team as an Underwriting Assistant in our beautiful Kalispell, Montana location. The Underwriting Assistant helps Placement colleague prepare...
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Kalispell, MT

Underwriting Assistant - Bind (Technician)

Type: Full Time, Full Time Alumnus
Job BriefPosition will have the job duties outlined. In addition, candidate will work within this program to determine if candidate can develop the skills necessary to underwrite and provide a high level of service to an underwriting territoryNOTE: This role will support of our office located in...
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Scottsdale, AZ

Marine Reinsurance Intern

Type: Internship
The Marine Reinsurance Intern will gain exposure of working with a large professional reinsurers underwriting treaty and facultative business as part of a Global Practice (MR GMP). The Marine Reinsurance Intern will also understand basics of how risk is evaluated in marine, interact with team of...
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Junior Underwriter - Torrent

Type: Full Time, Full Time Alumnus
Junior Underwriter - Torrent TechnologiesTorrent Technologies, a Division of Marsh & McLennan Companies has a great opportunity to join our Underwriting team as a Junior Underwriter. This position is a member of the support staff.Responsibilities:Enters new business applications, initiates...
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Overland Park, KS

Underwriting Assistant II

Type: Full Time, Full Time Alumnus
Underwriting Assistant - TorrentTorrent Technologies, a Division of Marsh & McLennan Companies has a great opportunity to join our Underwriting team as an Underwriting Assistant in our beautiful Kalispell, Montana location. The Underwriting Assistant helps Placement colleague prepare...
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Kalispell, MT

Underwriting Internship - Global Retail Markets - Phoenix, AZ

Type: Internship
Test drive a career at a Fortune 100 insurance leader.Do you ever take a step back and wonder how your education connects to the real world? In Liberty Mutual Insurance's internship program, you'll have the chance to find out.You'll step inside our dynamic, innovative culture and...
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Corporate Merchandising Intern

Type: Internship
Summer Internship - UnderwritingIntern Compensation: Weekly Stipend & LodgingIntern Type: Undergraduate - Risk Management & Insurance Majors onlyIntern Qualifications: Full time students, a junior or senior enrolled in a RM&I curriculum and is in good academic standing. Successful...
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Underwriting Internship - Global Retail Markets - Seattle, WA

Type: Internship
Test drive a career at a Fortune 100 insurance leader.Do you ever take a step back and wonder how your education connects to the real world? In Liberty Mutual Insurance's internship program, you'll have the chance to find out.You'll step inside our dynamic, innovative culture and...
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Risk Management Underwriting Summer Associate (Summer Internship)

Type: Internship
If you’re looking to use strong analytical and math skills in a competitive, fast-paced environment, a Risk Management Underwriting career at Cigna will allow you to do all this and more. Underwriters evaluate the risk of insuring a potential Cigna customer and use that information to set premium...
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Bloomfield, CT

Processing Coordinator-2

Type: Full Time, Full Time Alumnus
• As Processing Coordinator the primary goal is to offset potential delays by maintaining ongoing communication with the Client Coordinator regarding loan origination. This position assists with maintaining accurate reports, submitting loans to underwriters, and completing commitment letters.Job...
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Processing Coordinator

Type: Full Time, Full Time Alumnus
As Processing Coordinator the primary goal is to offset potential delays by maintaining ongoing communication with the Client Coordinator regarding loan origination. This position assists with maintaining accurate reports, submitting loans to underwriters, and completing commitment letters.Job...
Apply Share

Processing Coordinator

Type: Full Time, Full Time Alumnus
• As Processing Coordinator the primary goal is to offset potential delays by maintaining ongoing communication with the Client Coordinator regarding loan origination. This position assists with maintaining accurate reports, submitting loans to underwriters, and completing commitment letters.Job...
Apply Share