Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.
Insurance underwriters work indoors in offices. Most work full time.
How to Become an Insurance Underwriter
Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough. Certification is generally necessary for advancement to senior underwriter and underwriter manager positions.
Employment of insurance underwriters is projected to decline 11 percent from 2014 to 2024. Automated underwriting software allows workers to process applications more quickly than before, reducing the need for underwriters.
This occupation supported 106,300 jobs in 2012 and 103,400 jobs in 2014, reflecting a decline of 2.7%. In 2012, this occupation was projected to decrease by 6.1% in 2022 to 99,800 jobs. As of 2014, to keep pace with prediction, the expected number of jobs was 105,000, compared with an observed value of 103,400, 1.5% lower than expected. This indicates current employment trends are about on track with the 2012 trend within this occupation. In 2014, this occupation was projected to decrease by 11.1% in 2024 to 91,600 jobs. Linear extrapolation of the 2012 projection for 2022 results in an expected number of 98,500 jobs for 2024, 7.5% higher than the 2014 projection for 2024. This indicates expectations for future employment trends are much worse than the 2012 trend within this occupation.