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, Health Underwriter, Life Underwriter, Personal Lines Underwriter, Underwriter, Underwriting Consultant, Underwriting Director, Underwriting Manager
Tasks | Technology Skills | Tools Used | 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
- 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.
- 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 — Delphi Technology ; Fannie Mae Desktop Underwriter; RGA Facultative Application Console; Valen Technologies Risk Manager (see all 8 examples)
- Information retrieval or search software — LexisNexis
- Internet browser software — Web browser software
- Object or component oriented development software — C++
- Office suite software — Microsoft Office
- Presentation software — Microsoft PowerPoint
- Spreadsheet software — Microsoft Excel
- Word processing software — Microsoft Word
Hot Technology — a technology requirement frequently included in employer job postings.
- 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.
- Sales and Marketing — Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- 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.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Speaking — Talking to others to convey information effectively.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Coordination — Adjusting actions in relation to others' actions.
- Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Service Orientation — Actively looking for ways to help people.
- Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- 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 Clarity — The ability to speak clearly so others can understand you.
- Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Speech Recognition — The ability to identify and understand the speech of another person.
- 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).
- Flexibility of Closure — The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
- 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.
- Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- 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.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- 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.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
- Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
- Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
- Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
- Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
- Monitor Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
Detailed Work Activities
- Analyze health-related data.
- Assess financial status of clients.
- Authorize financial actions.
- Explain regulations, policies, or procedures.
- Assess risks to business operations.
- Verify accuracy of records.
- Electronic Mail — 100% responded “Every day.”
- Spend Time Sitting — 93% responded “Continually or almost continually.”
- Telephone — 90% responded “Every day.”
- Indoors, Environmentally Controlled — 87% responded “Every day.”
- Time Pressure — 60% responded “Every day.”
- Contact With Others — 63% responded “Constant contact with others.”
- Face-to-Face Discussions — 62% responded “Every day.”
- Freedom to Make Decisions — 47% responded “A lot of freedom.”
- Frequency of Decision Making — 63% responded “Every day.”
- Importance of Being Exact or Accurate — 57% responded “Extremely important.”
- Structured versus Unstructured Work — 57% responded “Some freedom.”
- Letters and Memos — 55% responded “Every day.”
- Impact of Decisions on Co-workers or Company Results — 53% responded “Important results.”
- Work With Work Group or Team — 40% responded “Very important.”
- Deal With External Customers — 33% responded “Extremely important.”
- Duration of Typical Work Week — 60% responded “40 hours.”
- Frequency of Conflict Situations — 31% responded “Once a year or more but not every month.”
- Importance of Repeating Same Tasks — 40% responded “Extremely important.”
- Level of Competition — 43% responded “Highly competitive.”
- Deal With Unpleasant or Angry People — 37% responded “Once a week or more but not every day.”
- Spend Time Making Repetitive Motions — 37% responded “Continually or almost continually.”
- Physical Proximity — 73% responded “Slightly close (e.g., shared office).”
|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, graphic designers, chemists, art directors, and cost estimators.|
|SVP Range||(7.0 to < 8.0)|
Interest code: CEI Want to discover your interests? Take the O*NET Interest Profiler at My Next Move.
- 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.
- Integrity — Job requires being honest and ethical.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- 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.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- 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.
- 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 (2018)||$33.36 hourly, $69,380 annual|
|Employment (2016)||104,000 employees|
|Projected growth (2016-2026)||Decline (-2% or lower)|
|Projected job openings (2016-2026)||7,500|
|Top industries (2016)|
Source: Bureau of Labor Statistics 2018 wage data and 2016-2026 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2016-2026). "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.
- American Council of Life Insurers
- Association of Home Office Underwriters
- Central Illinois Home Office Underwriters Association
- Group Underwriters Association of America
- National Association of Health Underwriters
- Occupational Outlook Handbook: Insurance underwriters
- Society of Chartered Property and Casualty Underwriters