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The differences between commercial lines underwriters and underwriting consultants can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriting consultant has an average salary of $71,693, which is higher than the $67,892 average annual salary of a commercial lines underwriter.
The top three skills for a commercial lines underwriter include CPCU, multi-line and commercial property. The most important skills for an underwriting consultant are life insurance, national accounts, and underwriting guidelines.
| Commercial Lines Underwriter | Underwriting Consultant | |
| Yearly salary | $67,892 | $71,693 |
| Hourly rate | $32.64 | $34.47 |
| Growth rate | -4% | -4% |
| Number of jobs | 33,047 | 6,804 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 77% |
| Average age | 44 | 44 |
| Years of experience | - | - |
Commercial lines underwriters are professionals who are responsible for reviewing corporate insurance applications to evaluate the risk involved and to approve or disapprove applicants. These underwriters are required to analyze the business information of their clients as well as monitor their activities to change insurance policies when risk is high or substandard. They must contact outside parties to discuss and explain underwriting policies as well as quote rates. Commercial lines underwriters must also utilize underwriting guidelines so that they can determine the loss-ratio history and loss-control reports.
An underwriting consultant is an individual who provides underwriting guidelines to underwriters as well as coordinates revision of the underwriting manual. Underwriting consultants are required to handle complex cases and situations by using their strong knowledge of company services, product standards, and underwriting policies. They must use their verbal and written communication skills to guide the account management team across several business segments. Underwriting consultants must also assist with special projects and handle confidential matters assigned by the senior consultant or manager.
Commercial lines underwriters and underwriting consultants have different pay scales, as shown below.
| Commercial Lines Underwriter | Underwriting Consultant | |
| Average salary | $67,892 | $71,693 |
| Salary range | Between $44,000 And $104,000 | Between $49,000 And $103,000 |
| Highest paying City | - | Boston, MA |
| Highest paying state | - | Massachusetts |
| Best paying company | - | CVS Health |
| Best paying industry | - | Health Care |
There are a few differences between a commercial lines underwriter and an underwriting consultant in terms of educational background:
| Commercial Lines Underwriter | Underwriting Consultant | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 77% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial lines underwriters' and underwriting consultants' demographics:
| Commercial Lines Underwriter | Underwriting Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.1% Female, 56.9% | Male, 48.2% Female, 51.8% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 10.1% Asian, 5.8% White, 72.1% American Indian and Alaska Native, 0.4% | Black or African American, 9.1% Unknown, 2.5% Hispanic or Latino, 9.7% Asian, 5.7% White, 72.8% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |