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Insurance Underwriter

Insurance underwriter - overview

As an insurance underwriter, your work will decide whether a customer is able to get the insurance products they need while protecting and growing the financial health of your employer. Learn more about this field and find out what you’ll need to study and do to get into the line of work.

Learn what the role involves below.

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What does an insurance underwriter do?

As an insurance underwriter, you’ll be responsible for approving policies for new customers or claims on existing products. You might work across a wide range of insurance types such as household, pet and car insurance, life insurance, corporate and commercial insurance, or reinsurance. You’ll need both negotiation and analytical skills in this role.

Insurance underwriters usually spend their time studying potential customers and insurance policies, analysing the potential risks and returns, developing and preparing quotes for policies, and working with technical specialists where necessary. You’ll help your company turn a profit while protecting people and businesses from unexpected loss.

What will your days involve?

Daily tasks will vary but could involve:

  • Studying insurance proposals
  • Collecting and processing background information
  • Analysing data from various sources
  • Gathering expert advice
  • Calculating claim odds and risk levels
  • Calculating claim prices and quotes
  • Working with other insurers
  • Writing insurance policies

FAQs

How much can you earn as an insurance underwriter?

The average salary for an insurance underwriter in the UK is £44,200. Graduates start at around £25,000.

Does an insurance underwriter role involve travel in the UK or overseas?

You may travel within the UK when visiting other businesses. There may also be opportunities to travel abroad if your company is international.

Can you work from home as an insurance underwriter?

Insurance underwriters usually work from an office but your employer may also let you work from home.

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