Summary Report for:
13-2053.00 - Insurance Underwriters
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Sample of reported job titles: Account Underwriter, Automobile and Property Underwriter, Commercial Lines Underwriter, Commercial Underwriter, Customer Service Representative, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Director
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Detailed Work Activities | Work Context | Job Zone | Education | Credentials | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment | Job Openings | Additional Information
- 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.
- Decline excessive risks.
- Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Examine documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
- Authorize reinsurance of policy when risk is high.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
Tools & Technology
Tools used in this occupation:
- Desktop calculator — 10-key calculators
- Desktop computers
- Notebook computers — Laptop computers
- Personal computers
Technology used in this occupation:
- Data base user interface and query software — Database software
- Document management software — FileNet Content Manager
- Enterprise resource planning ERP software — Anodas Software Limited Phoenix; Consilience Software Maven Insurance Automation Suite; SIS SEMCI PARTNER; Skywire Software InsBridge (see all 7 examples)
- Financial analysis software — Fannie Mae Desktop Underwriter; Fiserv Advanced Underwriting; RGA Facultative Application Console; Valen Technologies Risk Manager (see all 7 examples)
- Internet browser software — Web browser software
- Object or component oriented development software — C++
- Office suite software — Microsoft Office software
- Presentation software — Microsoft PowerPoint
- Spreadsheet software — Microsoft Excel
- Word processing software — Microsoft Word
- Medicine and Dentistry — Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
- Education and Training — Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Speaking — Talking to others to convey information effectively.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Time Management — Managing one's own time and the time of others.
- Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Coordination — Adjusting actions in relation to others' actions.
- Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Speech Clarity — The ability to speak clearly so others can understand you.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Speech Recognition — The ability to identify and understand the speech of another person.
- Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Selective Attention — The ability to concentrate on a task over a period of time without being distracted.
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
- Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
- Training and Teaching Others — Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
- Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
- Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
- Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
- Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
Detailed Work Activities
- Assess financial status of clients.
- Authorize financial actions.
- Explain regulations, policies, or procedures.
- Verify accuracy of records.
- Assess risks to business operations.
- Electronic Mail — 100% responded “Every day.”
- Telephone — 100% responded “Every day.”
- Spend Time Sitting — 92% responded “Continually or almost continually.”
- Frequency of Decision Making — 85% responded “Every day.”
- Freedom to Make Decisions — 73% responded “A lot of freedom.”
- Letters and Memos — 85% responded “Every day.”
- Impact of Decisions on Co-workers or Company Results — 54% responded “Very important results.”
- Importance of Being Exact or Accurate — 50% responded “Extremely important.”
- Face-to-Face Discussions — 69% responded “Every day.”
- Time Pressure — 58% responded “Every day.”
- Structured versus Unstructured Work — 50% responded “Some freedom.”
- Contact With Others — 42% responded “Constant contact with others.”
- Indoors, Environmentally Controlled — 73% responded “Every day.”
- Importance of Repeating Same Tasks — 38% responded “Extremely important.”
- Deal With External Customers — 38% responded “Very important.”
- Duration of Typical Work Week — 56% responded “40 hours.”
- Work With Work Group or Team — 31% responded “Extremely important.”
- Spend Time Making Repetitive Motions — 35% responded “Continually or almost continually.”
- Deal With Unpleasant or Angry People — 35% responded “Once a week or more but not every day.”
- Frequency of Conflict Situations — 27% responded “Once a week or more but not every day.”
- Level of Competition — 38% responded “Highly competitive.”
- Degree of Automation — 42% responded “Moderately automated.”
|Title||Job Zone Four: Considerable Preparation Needed|
|Education||Most of these occupations require a four-year bachelor's degree, but some do not.|
|Related 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.|
|Job Training||Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.|
|Job Zone Examples||Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, art directors, and cost estimators.|
|SVP Range||(7.0 to < 8.0)|
Percentage of Respondents
|Education Level Required|
|4||High school diploma or equivalent|
Interest code: CEI
- Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Integrity — Job requires being honest and ethical.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Persistence — Job requires persistence in the face of obstacles.
- Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
- Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
- Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
- Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
- Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
- Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Wages & Employment Trends
|Median wages (2014)||$30.88 hourly, $64,220 annual|
|Employment (2012)||106,000 employees|
|Projected growth (2012-2022)||Decline (-3% or lower)|
|Projected job openings (2012-2022)||28,900|
|Top industries (2012)|
Source: Bureau of Labor Statistics 2014 wage data and 2012-2022 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2012-2022). "Projected job openings" represent openings due to growth and replacement.
Job Openings on the Web
Sources of Additional Information
Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.
- Insurance Underwriters . Bureau of Labor Statistics, U.S. Department of Labor. Occupational Outlook Handbook, 2014-15 Edition.