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This question is about underwriter jobs.
Are underwriters in demand?
Yes, underwriters are in demand in certain industries, such as mortgage loan underwriters. According to Mortgage Professional America (MPA), the mortgage industry saw an underwriter shortage in 2020, which forced a slow turnaround for loans.
It even doubled the salary of many underwriters to six figures as the industry gets desperate for talent. It was believed that automation and better technology would help process loans faster, but underwriters still need critical thinking and analysis. So, in this industry, there is a high need to fill in this occupation.
Some industries, though, may not be thriving. According to the U.S. Bureau of Labor Statistics, insurance underwriters may decline two percent from 2020 to 2030. Because of automated software, applications may be processed quicker and so reduces the need for underwriters.
However, it's important to note that underwriters will still be needed to review and update the criteria that run the automation and provide analytical insight for more specific insurance fields such as marine insurance.
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