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The differences between insurance analysts and property underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a property underwriter has an average salary of $71,730, 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 property underwriter are CPCU, underwriting guidelines, and insurance coverage.
| Insurance Analyst | Property Underwriter | |
| Yearly salary | $55,424 | $71,730 |
| Hourly rate | $26.65 | $34.49 |
| Growth rate | -4% | -4% |
| Number of jobs | 44,280 | 11,643 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 75% |
| 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.
Property Underwriters will require skills in underwriting guidelines, sales territories, CPCU, analysis, math, interpersonal communication, and a bachelor's degree in economics, business, accounting, finance, or mathematics for this career choice. Also, on-the-job training may be needed from senior underwriters and completion of certification programs. Paying an annual salary of $82K, those who choose this career will help determine coverage amounts and premiums on property. This may include houses, land, boats, cars, or other properties of sufficient value.
Insurance analysts and property underwriters have different pay scales, as shown below.
| Insurance Analyst | Property Underwriter | |
| Average salary | $55,424 | $71,730 |
| Salary range | Between $34,000 And $88,000 | Between $45,000 And $111,000 |
| Highest paying City | San Francisco, CA | Boston, MA |
| Highest paying state | California | Massachusetts |
| Best paying company | Credit Karma | Chubb |
| Best paying industry | - | Finance |
There are a few differences between an insurance analyst and a property underwriter in terms of educational background:
| Insurance Analyst | Property Underwriter | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance analysts' and property underwriters' demographics:
| Insurance Analyst | Property Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 47.1% Female, 52.9% |
| 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, 9.7% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 71.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |