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The differences between insurance analysts and commercial lines underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a commercial lines underwriter has an average salary of $67,892, which is higher than the $55,424 average annual salary of an insurance analyst.
The top three skills for an insurance analyst include insurance coverage, insurance policies and life insurance. The most important skills for a commercial lines underwriter are CPCU, multi-line, and commercial property.
| Insurance Analyst | Commercial Lines Underwriter | |
| Yearly salary | $55,424 | $67,892 |
| Hourly rate | $26.65 | $32.64 |
| Growth rate | -4% | -4% |
| Number of jobs | 44,280 | 33,047 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 77% |
| Average age | 44 | 44 |
| Years of experience | - | - |
An insurance analyst provides analytical services to maintain an efficient workflow at insurance companies. They are typically in charge of evaluating insurance policies to identify possible risks for the policyholder and the company, validating client information, and reviewing insurance applications to ensure their accuracy. They may meet with clients to answer inquiries, make arrangements, and advise which policies suit them the best. Moreover, an insurance analyst may process policy renewals and amendments, maintain records, perform cancellations, and investigate claims while adhering to the company's policies and regulations.
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.
Insurance analysts and commercial lines underwriters have different pay scales, as shown below.
| Insurance Analyst | Commercial Lines Underwriter | |
| Average salary | $55,424 | $67,892 |
| Salary range | Between $34,000 And $88,000 | Between $44,000 And $104,000 |
| Highest paying City | San Francisco, CA | - |
| Highest paying state | California | - |
| Best paying company | Credit Karma | - |
| Best paying industry | - | - |
There are a few differences between an insurance analyst and a commercial lines underwriter in terms of educational background:
| Insurance Analyst | Commercial Lines Underwriter | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 77% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance analysts' and commercial lines underwriters' demographics:
| Insurance Analyst | Commercial Lines Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 43.1% Female, 56.9% |
| Race ratio | Black or African American, 11.1% Unknown, 2.4% Hispanic or Latino, 9.0% Asian, 5.4% White, 71.7% American Indian and Alaska Native, 0.4% | 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% |
| LGBT Percentage | 9% | 9% |