Occupations13-2053.00

Insurance Underwriters

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

Median annual pay
$79,880

BLS, 2024

Employment
127,000

U.S., 2024

Ten-year outlook
-2.6%

2024–34

Annual openings
8,200

Projected average

The work

Core tasks

  1. 01Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
  2. 02Decline excessive risks.
  3. 03Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
  4. 04Evaluate possibility of losses due to catastrophe or excessive insurance.
  5. 05Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  6. 06Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
  7. 07Authorize reinsurance of policy when risk is high.

Capabilities

Essential skills

Reading ComprehensionActive ListeningWritingCritical ThinkingSpeakingActive LearningMonitoringMathematicsLearning StrategiesScience

Employment outlook

Where the role is heading

U.S. employment is projected to move from 127,000 in 2024 to 123,700 in 2034, a -2.6% change.

BLS projects an average of 8,200 openings each year over the period, including openings created by workers leaving the occupation.