Sales & marketing

Insurance underwriter

Insurance underwriters decide whether to insure a person or company, and set out the details of insurance policies.

Annual Salary

£15,000 to £100,000

Average UK salary in 2018 was £29,588 (source Office for Statistics)

Working hours

37 to 40

5%
Future employment

There will be 5% more Insurance underwriter jobs in 2023.
In your local area

What's it all about?

Your day-to-day tasks may include:

  • studying insurance proposals
  • gathering background information like medical histories
  • analysing statistics from actuaries and other sources
  • getting specialist risk assessments from experts like surveyors or doctors
  • assessing risk (the likelihood of an insurance payout)
  • calculating the price of insurance premiums
  • judging whether to share the risk with another insurer
  • preparing quotes and negotiating terms with brokers or business clients
  • writing policies
  • maintaining accurate and detailed records

University

You could take a degree before applying for a place on an insurance company's graduate training scheme. Relevant degrees include:

  • business studies
  • finance
  • economics
  • maths

It'll help to get some relevant work experience whilst you're studying, for example through an internship.

You'll usually need:

  • 2 to 3 A levels for a degree

Apprenticeship

You could start by doing an advanced apprenticeship in providing financial services insurance or an insurance practitioner advanced apprenticeship.

You could also take an insurance professional higher apprenticeship, depending on your background and qualifications.

You'll usually need:

  • 5 GCSEs at grades 9 to 4 (A* to C), including English and maths, for an advanced apprenticeship
  • 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent qualifications, for a higher or a degree apprenticeship

£15,000 to £100,000

Starter salary: £15,000 to £30,000

Experienced salary: £30,000 to £65,000

Bonuses for personal or company performance are often included in the salary.

These figures are a guide.

37 to 40

You'll work standard office hours, Monday to Friday.

You'll work in an office. You may travel to meetings with insurance brokers or business clients.

With experience, you could deal with more complex risks.

You could also move into management or apply for related jobs like risk management, loss adjusting and claims management.

You could join the Chartered Insurance Institute for professional development and training opportunities.

You can find out more about working in insurance from the Chartered Insurance Institute and Discover Risk

Skills required and how your skills match up

What skills are required?

You'll need:

  • to be thorough and pay attention to detail
  • analytical thinking skills
  • patience and the ability to remain calm in stressful situations
  • the ability to work well with others
  • the ability to accept criticism and work well under pressure
  • knowledge of medicine and dentistry
  • excellent verbal communication skills
  • knowledge of English language
  • to be able to carry out basic tasks on a computer or hand-held device
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