Insurance Underwriters
SOC code 13-2053 · O*NET-SOC 13-2053.00 · Considerable preparation needed · Business and finance
Insurance Underwriters pay
U.S. national figures, May 2025 BLS survey · How we got this number
Median pay
$81,370
a year
Hourly
$39.12
per hour
The solid band is the middle 50% of workers; the bar spans the 10th to 90th percentile.
Average pay
$93,700
$45.05 per hour
Middle 50%
$64,620 – $110,390
25th to 75th percentile
Full spread
$55,530 – $145,160
10th to 90th percentile
People employed
105,420
nationwide
National U.S. figure, May 2025. Local pay can be higher or lower.
- 10th percentile
- $55,530
- $26.70/hr
- 25th percentile
- $64,620
- $31.07/hr
- Median percentile
- $81,370
- $39.12/hr
- 75th percentile
- $110,390
- $53.07/hr
- 90th percentile
- $145,160
- $69.79/hr
Job outlook · federal projection 2024–34
-3%
Declining
127,000
jobs in 2024
123,700
projected for 2034
About 3,300 fewer jobs
U.S. Bureau of Labor Statistics employment projections, 2024–34. Projections describe the broader occupation group and are estimates, not guarantees.
What does an insurance underwriter do?
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
The tasks that matter most day to day
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
- Authorize reinsurance of policy when risk is high.
How to become an insurance underwriter
Most people in this role hold bachelor's degree — 70% of workers surveyed reported it as their level of education.
Preparation level: zone 4 — Considerable preparation needed
- Education
- Most of these occupations require a four-year bachelor's degree, but some do not.
- Experience
- A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
- Training
- Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Education reported by people doing this job
- Bachelor's Degree70%
- High School Diploma or the equivalent (such as a GED)10%
- Associate's Degree or other 2-year degree10%
- Some College Courses7%
Common questions
How much does an insurance underwriter earn?
The national median is $81,370 a year. The full range runs from $55,530 at the 10th percentile to $145,160 at the 90th — entry pay sits closer to the lower figure, and experience, licensing and specialisation move you up the range.
Can you become an insurance underwriter without a degree?
Not usually — this occupation sits in preparation zone 4, where the typical entry route is most of these occupations require a four-year bachelor's degree, but some do not. The education breakdown above shows what people in the role actually reported.
Is insurance underwriter in demand?
Federal projections expect employment to shrink by about 3% between 2024 and 2034 — declining. Openings also come from people retiring or changing jobs, which the growth figure does not count.
Skills and knowledge you need
Core skills
- Reading Comprehension3.8/5
- Active Listening3.8/5
- Writing3.8/5
- Critical Thinking3.8/5
- Speaking3.6/5
- Active Learning3.1/5
- Monitoring3.0/5
Knowledge areas
- English Language4.0/5
- Customer and Personal Service3.9/5
- Mathematics3.3/5
- Sales and Marketing3.2/5
- Administrative2.9/5
- Economics and Accounting2.7/5
- Law and Government2.7/5
- Computers and Electronics2.7/5
Transferable strengths: Judgment and Decision Making, Complex Problem Solving, Social Perceptiveness.