Insurance Underwriters
Insurance underwriters evaluate insurance applications and decide whether to approve them.
Is insurance underwriters a good career?
It scores 16/100 and ranks #483 of 825 occupations on pay, growth, employment and openings. Here's what the federal data says, with no editorializing.
Advantages
- Pays well above the U.S. median wage ($81,370 vs $61,390)
Possible tradeoffs
- Employment is projected to decline (-2.6% through 2034)
- Typically requires a bachelor's degree
What insurance underwriters earn
Wages: BLS OEWS May 2025Pay is a range, not a number. Half of U.S. insurance underwriters earn between $64,620 and $110,390 a year.
Best-paying states
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Strongest employment concentration
Live insurance underwriters jobs
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- Typical education
- Bachelor's degree
- Work experience
- None
- On-the-job training
- Moderate-term on-the-job training
- Outlook
- Employment is projected to grow decline through 2034.
Education
Employers usually prefer to hire candidates who have a bachelor’s degree. A common field of degree is business. Coursework in finance, economics, and mathematics is helpful.
Some colleges and universities partner with local businesses to offer internships. These opportunities allow students to gain knowledge or practical experience through assisting in a variety of tasks, such as underwriting.
Training
Beginning underwriters typically work under the supervision of senior underwriters for up to 12 months. Trainees work on basic applications and learn the most common risk factors. Some companies offer training programs that include classroom instruction on the basics of underwriting.
As new underwriters gain experience, they may work independently and handle more complex applications.
Licenses, certifications & registrations
Employers may expect underwriters to become certified through coursework. These courses are important for keeping current with new insurance policies and changes in state and federal regulations.
Many options are available for certification or insurance specialty designations.
Requirements for certification or designation vary and often include coursework or exams or both. Some credentials are available to new underwriters, but others require candidates to have a specified number of years of experience.
Advancement
Experienced underwriters may advance to become senior underwriters or underwriter managers. Underwriters may need certification to progress into these positions.
Important qualities
Analytical skills. Underwriters must evaluate information from a variety of sources to balance risk against caution.
Decision-making skills. Underwriters determine whether to approve applicants for insurance coverage and, if approved, at what level to set premiums.
Detail oriented. Underwriters must stay focused when reviewing insurance applications because each item may affect the coverage decision.
Interpersonal skills. Underwriters need to communicate and relate well with people because much of their work involves dealing with clients or others, such as insurance sales agents.
Math skills. Underwriters need math knowledge to ensure accuracy in determining the probability of losses and calculating appropriate premiums on an insurance policy.
Related occupations
How much do insurance underwriters make?
The national median wage is $81,370 a year, with the middle half earning between $64,620 and $110,390 (BLS OEWS May 2025).
Is insurance underwriters a good career?
On the Jobs.best index it scores 16 of 100 and ranks #483 of 825 occupations, weighing pay, growth, employment and openings. Employment is projected to change -2.6% through 2034.
What education do you need to become a insurance underwriter?
The typical entry-level education is bachelor's degree.
Where do insurance underwriters earn the most?
Among states, Massachusetts pays the highest median ($106,640). Local pay for every state and metro is below.