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The differences between insurance analysts and underwriting technicians can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance analyst has an average salary of $55,424, which is higher than the $44,704 average annual salary of an underwriting technician.
The top three skills for an insurance analyst include insurance coverage, insurance policies and life insurance. The most important skills for an underwriting technician are cancellations, insurance policies, and data entry.
| Insurance Analyst | Underwriting Technician | |
| Yearly salary | $55,424 | $44,704 |
| Hourly rate | $26.65 | $21.49 |
| Growth rate | -4% | -4% |
| Number of jobs | 44,280 | 8,615 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 54% |
| 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.
Underwriting technicians may also be known as underwriters or underwriting assistants. They determine which customers qualify for various insurance policies or loans. Their duties include finding information, writing quote letters, checking customer eligibility, and arranging loans. They are expected to carry out background checks and credit history checks for clients seeking insurance. They diligently analyze applications of clients based on certain criteria.
Insurance analysts and underwriting technicians have different pay scales, as shown below.
| Insurance Analyst | Underwriting Technician | |
| Average salary | $55,424 | $44,704 |
| Salary range | Between $34,000 And $88,000 | Between $28,000 And $69,000 |
| 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 an underwriting technician in terms of educational background:
| Insurance Analyst | Underwriting Technician | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 54% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance analysts' and underwriting technicians' demographics:
| Insurance Analyst | Underwriting Technician | |
| Average age | 44 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 25.2% Female, 74.8% |
| 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, 8.9% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 73.1% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |