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INSURANCE UNDERWRITERS
An Occupation in
 
Occupation Description:
 
  Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
 
Career Video:
  Video Icon  Insurance Underwriters
  Open-captioning or video transcript included for the hearing impaired. Career videos brought to you by CareerOneStop. Copyright © 2017 All Rights Reserved.
 
Typical Tasks:
 
 
  • Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
  • Evaluate possibility of losses due to catastrophe or excessive insurance.
  • Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  • Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
  • Authorize reinsurance of policy when risk is high.
 
Knowledge:
 
 
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar..
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction..
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications..
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems..
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology..
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data..
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process..
 
Search for Jobs on CareerOneStop:
 
  Search for Insurance Underwriters Jobs
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Education & Training:
 
  Bachelor's degree
 
      View Related Programs on Connecticut's Education & Training ConneCTion site
 
Wage Information:
 
 
Region Average Annual Average Hourly Entry Level (hourly) Mid-Range  (hourly)
Statewide $99,436.00 $47.81 $30.49 $31.94 - $51.27
Bridgeport/Stamford $124,524.00 $59.87 $33.32 $38.16 - $79.67
Hartford $96,193.00 $46.25 $30.31 $31.76 - $51.20
New Haven $86,443.00 $41.56 $29.19 $31.65 - $51.20
      
Select a town to see its region Not sure which Region applies to you?
    

 
Occupation Outlook:
 
 
Region Employment Average Annual Growth Rate Average Annual Job Openings
2020 2030
State of Connecticut 3,490 3,090 -0.1% 198
 
 
Chart of Growth Rate and Annual Openings   Employment in this occupation is expected to grow more slowly than average, but the number of annual openings will offer very good job opportunities.
Key:
  N/A = Not Applicable, ***** = Over $60.00 per hour, ##### = Over $124,821
 
Similar Occupations:
 
 
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