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Insurance Underwriter

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AVG. SALARY

$68,980

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Decreasing

What To Learn

High School

What high school courses should you take if you're interested in this career? Get your answers from the Finance cluster Insurance pathway.

Beyond High School

Here's a list of programs that you should consider if you're interested in this career:

Education Level

Education training and experience are required at different levels for success in different occupations.

Bachelor's degree

Insurance underwriters typically need a bachelor's degree to enter the occupation. However, insurance-related work experience and strong computer skills may be enough for some positions

Insider Info

Additional Information

Experts recommend strongly that you get a university degree. Most companies aren't looking for a particular degree, just some educational experience.

"You didn't used to need a degree, but it seems now that companies want more education," says underwriter Rita Coward. "I think mine is the first generation that's needed a degree."

According to Coward, about 15 underwriters' exams are offered. Technically, you don't need to take these exams to get started -- and some companies don't require them at all.

But in order to work your way up in the field, most companies will encourage you to take some of these exams. As you write more of the exams, you will be able to handle more complex cases.

Many insurance companies offer internships to students. Write or call an insurance company to let them know you're interested. Many students who are hired by insurance companies upon graduation got their start by working as summer employees.

There are ways to get started in underwriting without going to university, although this approach is more difficult.

"Try becoming an agent first -- get a perspective from that side and make a name for yourself in the company -- then approach them about other options," says Coward.

Extra Requirements

Certification is often necessary for advancement to senior underwriter and underwriter management positions. Many certification options are available. The Institutes offer the Chartered Property and Casualty Underwriter (CPCU) designation. It also offers several other designations in insurance specialties, including the Associate in Commercial Underwriting (AU) and Associate in Personal Insurance (API). The National Association of Insurance and Financial Advisors offers the Life Underwriter Training Council Fellow (LUTCF) designation. The American College of Financial Services offers the Chartered Life Underwriter (CLU) certification.

For additional information, visit these websites:

Contact

  • Email Support

  • 1-800-GO-TO-XAP (1-800-468-6927)
    From outside the U.S., please call +1 (424) 750-3900

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.