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Salary and Benefits

Underwriting Specialist
$53K-$65K / yr. (est.)
$54K
$59,558 / year
$66K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Underwriting Specialist

What does an Underwriting Specialist do?

As Underwriting Specialists, we assess new commercial insurance risks and determine the correct classification of business, policy contract forms, risk of pricing, and work by the broad limits and authority on commercial underwriting accounts of significant size and high technical complexity. Additionally, we evaluate property information, liability exposures, fleet and safety programs, loss history, financial reports, risk control reports, and accept and prices risk in accordance with established underwriting guidelines and within delegated authority level. We review renewal accounts by examining business operations, classification, contract forms, and loss activity and determine if the account is an acceptable risk and if it will be non-renewed.

Core tasks:

  • decide the price according to established underwriting guidelines and within delegated authority level
  • review accounts and endorsement requests exceeding senior underwriter, underwriter, and underwriting assistant’s authority
  • level and take appropriate procedural action
  • develop, expand and enhance agency relationships to promote profit and growth of the new business
  • travel and meet with agents and customers to enhance business relationships

Insights

How Many Years of Experience Do Professionals Need Before Becoming Underwriting Specialist?
On average, people work 7+ years in other positions prior to becoming a Underwriting Specialist.
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Underwriting SpecialistHouston, TX - A year ago
I believe 7+ years in other positions is necessary to gain a wide range of skills and expertise. It makes you a better Underwriting Specialist in the long run. 💪
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Underwriting SpecialistPhoenix, AZ - A year ago
7+ years? I don't have that kind of patience! I want to be a Underwriting Specialist right now! 😩
How Long Do Underwriting Specialist Employees Typically Stay in Their Roles?
On average, Underwriting Specialists works in this position for 5+ years across multiple employers.
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Financial AnalystNew York City, NY - A year ago
As a Chartered Financial Analyst, I acknowledge the importance of Underwriting Specialists in assessing investment risks. Having diverse experiences can bring valuable insights to the table. 💰
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Business ConsultantChicago, IL - A year ago
From my expertise as a Business Consultant, I can say that having Underwriting Specialists working across various employers allows them to gain industry-wide knowledge and adaptability. 💪
What Is the Job Hopper Score for Underwriting Specialist Employees?
Moderate job changes in Underwriting Specialist, showing some career movement without excessive turnover.
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Risk ManagerHouston, TX - A year ago
I've seen firsthand how moderate job changes enhance an underwriting specialist's skillset. It's crucial to expose oneself to different environments and challenges. 👍
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ActuaryLos Angeles, CA - A year ago
Change can be beneficial, but there's value in building deep expertise through lasting commitment to underwriting roles. 🤔

Career path

Path to job

Discover a Underwriting Specialist's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Underwriting Specialist typically studied at.
Illinois State University
Penn State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Underwriting Specialist Employees?
Gender ratio in Underwriting Specialist position: 0.542995169082126 Male and 0.457004830917874 Female. Age ratio in Underwriting Specialist position: 16-20: 3%, 21-30: 60%, 31-40: 24%, 41-50: 10%, 51-60: 3%, 60+: 0%. Underwriting Specialist position is predominantly male (54.3%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Underwriting SpecialistMiami, FL - A year ago
It's refreshing to see younger individuals dominating this field. It shows the potential for growth and innovation. 🌟
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Underwriting SpecialistSeattle, WA - A year ago
Let's not forget that these statistics are based on averages. There will always be exceptions and variations in different workplaces. 🤷

Workplaces

Who Are the Top Employers for Underwriting Specialist?
Top employers of Underwriting Specialist position: AIG, Cigna, CNA Insurance. People who work in Underwriting Specialist position most typically go on to work for the AIG.
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Underwriting SpecialistSan Francisco, CA - A year ago
I can't believe AIG is the top employer for Underwriting Specialists. They have a terrible reputation in the industry!
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Underwriting SpecialistMiami, FL - A year ago
CNA Insurance may be good, but AIG is a giant in the industry. They dominate the market, and their name carries weight!
AIG
Cigna
CNA Insurance
What Industries Does Underwriting Specialist Typically Have Experience In?
Industry Background: The most typical industries of Underwriting Specialist: Finance & Insurance, Health Care, Information Technology, Professional / Scientific / Technical, Arts / Entertainment / Recreation. Underwriting Specialist employees most likely come from a Finance & Insurance industry background.
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Underwriting SpecialistMiami, FL - A year ago
OMG, as an Underwriting Specialist, I deal with huge amounts of data daily, making critical decisions. It's not just a regular desk job!
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Underwriting SpecialistNew York City, NY - A year ago
Yeah, it may seem like it's just sitting at a desk, but an Underwriting Specialist plays a crucial role in assessing risk and protecting companies' financial interests.

Find your job as Underwriting Specialist

Discussion about Underwriting Specialist

Want to know more about Underwriting Specialist position?
Share your thoughts and ideas about Underwriting Specialist position with others in our community.
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Is Underwriting Specialist a female or male dominated profession?
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Sophie Hayes4 years ago
This is a well balanced profession, about half of the people are women.
What is the typical age to work as an Underwriting Specialist?
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Isabella Holmes4 years ago
The typical age is 30.
How much experience do you need to work as an Underwriting Specialist?
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Benjamin Gardner4 years ago
On average, people have 7 years of experience when they start working as an Underwriting Specialist
Which industries does a Underwriting Specialist typically work in?
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Benjamin Gardner4 years ago
Finance & Insurance is the most probable for an Underwriting Specialist to work in.
Is a degree needed to work as an Underwriting Specialist?
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Benjamin Gardner4 years ago
You should be fine with a Bachelor of Science degree
Which company is likely to have openings for Underwriting Specialist positions?
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Benjamin Gardner4 years ago
Working as an Underwriting Specialist it might be a good next step to work for AIG, Cigna, CNA Insurance, Liberty Mutual Insurance and Nationwide
How many years do people work as an Underwriting Specialist before changing their role?
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Liam Brown4 years ago
More than 5 years is the typical lifespan for an Underwriting Specialist.
How likely is it for people working as an Underwriting Specialist to switch companies still working as an Underwriting Specialist?
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Sophie Hayes4 years ago
The job hopper score is medium for an Underwriting Specialist.
What do people usually work as before switching to Underwriting Specialist?
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Isabella Holmes4 years ago
You have a good chance of becoming an Underwriting Specialist if you are working as Underwriter, Commercial Underwriter or Account Executive
What are the typical next steps for someone working as an Underwriting Specialist?
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Liam Brown4 years ago
Underwriter, Underwriting Manager or Underwriting Consultant are good next steps for an Underwriting Specialist
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Disclaimer

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