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Insurance Underwriters

People classed as Insurance Underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications. The skills rated most useful are writing, reading comprehension, and critical thinking. You may also need to examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property. With a code of CEI, this is mostly a job for people drawn to orderly work with data, records and clear procedures. Enterprising interests also help, rated 4.5 out of 7. Getting in usually takes a bachelor’s degree plus a period of work experience, a level O*NET calls considerable preparation. People who want orderly work with data, records and clear procedures usually fit better here than those who need creative work with room for original expression.

What they do

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Main 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.

Skills

  • Writing
  • Reading Comprehension
  • Critical Thinking
  • Active Listening
  • Speaking
  • Judgment and Decision Making

Who this career fits

May suit you if

  • You like clear rules and getting the details right.
  • You like taking the lead and making the call.
  • You are ready to spend around four years on a degree, then build experience.
  • You are comfortable relying on writing and reading comprehension.

May not suit you if

  • You get restless with routine, records and exact procedures.
  • You need creative expression to be a big part of your day. Artistic rates 1.0 out of 7 here.
  • You want to avoid a four-year degree or its equivalent.

Interest profile

O*NET rates each occupation from 1 to 7 on six interest types. The code CEI takes the three highest, and Conventional comes first here.

Preparation

Considerable preparation. Most jobs here ask for a bachelor’s degree, and employers usually expect a few years of related experience as well.

Most-reported requirement in the O*NET survey: Bachelor's Degree. This reflects what workers reported most often and is not a legal minimum. Licensing rules can differ by state or industry, so confirm what applies where you plan to work.

Also called

  • Account Underwriter
  • Automobile and Property Underwriter
  • Commercial Lines Underwriter
  • Health Underwriter
  • Life Underwriter

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This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA.