What does an Insurance Underwriter earn?

On average, insurance underwriters in the U.S. earn around $85,610 per year. They help insurance companies assess the risks of offering coverage to applicants, by looking at the applicant’s personal information, medical history, and other factors. They may also design a financial plan that works within a customer’s budget and outlines the advantages of purchasing certain insurance products. Insurance underwriters can choose to specialise in a certain area such as health, property, or life insurance.

How to earn more as an Insurance Underwriter

If you want to become an insurance underwriter, you'll need to have a degree in either insurance, law, or risk management. You could also look into degree apprenticeships that provide you with the necessary skills. To increase your salary as an insurance underwriter, you can move into a specialised field, such as marine insurance, or take on more responsibility within the company by becoming a team leader or manager. You can also become self-employed and start your own insurance underwriting business.