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Insurance underwriter vs adjuster

The differences between insurance underwriters and adjusters can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance underwriter has an average salary of $64,163, which is higher than the $49,396 average annual salary of an adjuster.

The top three skills for an insurance underwriter include health insurance, insurance underwriting and insurance coverage. The most important skills for an adjuster are customer service, strong customer service, and litigation.

Insurance underwriter vs adjuster overview

Insurance UnderwriterAdjuster
Yearly salary$64,163$49,396
Hourly rate$30.85$23.75
Growth rate-4%-6%
Number of jobs39,0267,936
Job satisfaction3-
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 62%
Average age4444
Years of experience-4

What does an insurance underwriter do?

An insurance underwriter specializes in identifying and assessing financial risks in insurance policies. It is their duty to gather and review insurance applications, understand the coverage of policies and claims, determine a client's ability to uphold financial obligations by studying their personal information, and develop strategies to prevent the impact of risks and financial losses. They may also negotiate with external parties while adhering to the company's rules and regulations. Moreover, there are instances when an insurance underwriter must produce progress reports and presentations for managers and executives.

What does an adjuster do?

An adjuster is responsible for evaluating the extent of loss in the company by calculating the damage costs, determining the settlement payment to the client, and managing the reputation of the company for claims accountability. Adjusters must have extensive knowledge of the insurance principles and processes, following the state and federal regulations to protect clients and the business from insurance fraud. They collect documents from different organizations, perform field research, and interview witnesses to verify the accuracy of claims statement.

Insurance underwriter vs adjuster salary

Insurance underwriters and adjusters have different pay scales, as shown below.

Insurance UnderwriterAdjuster
Average salary$64,163$49,396
Salary rangeBetween $35,000 And $116,000Between $35,000 And $68,000
Highest paying CityHartford, CTParsippany-Troy Hills, NJ
Highest paying stateConnecticutNew Jersey
Best paying companyCitiFCCI
Best paying industry-Insurance

Differences between insurance underwriter and adjuster education

There are a few differences between an insurance underwriter and an adjuster in terms of educational background:

Insurance UnderwriterAdjuster
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 62%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Insurance underwriter vs adjuster demographics

Here are the differences between insurance underwriters' and adjusters' demographics:

Insurance UnderwriterAdjuster
Average age4444
Gender ratioMale, 33.4% Female, 66.6%Male, 56.9% Female, 43.1%
Race ratioBlack or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 72.3% American Indian and Alaska Native, 0.4%Black or African American, 12.2% Unknown, 4.4% Hispanic or Latino, 16.3% Asian, 5.1% White, 61.4% American Indian and Alaska Native, 0.5%
LGBT Percentage9%10%

Differences between insurance underwriter and adjuster duties and responsibilities

Insurance underwriter example responsibilities.

  • Manage patient's records, appointments, and account balances while adhering to HIPPA standards.
  • Manage A/R, A/P, credentialing, surgery scheduling, and coordinate patient referrals to other physicians.
  • Manage operating procedure and accounting systems for payroll, operating expenses, supplies and inventory management and commercial accounts.
  • Prepare all HCFA billing with proper ICD-9 codes and CPT codes for accurate turn around time on payments.
  • Follow up with insurance carriers and patients to expedite the recovery of payment obligations
  • File insurance and process billing and payments, coordinate patients financial arrangements, present treatment plans, verify insurance coverage.
  • Show more

Adjuster example responsibilities.

  • Manage strict confidentiality of documents and comply with HIPAA regulations stipulate by the facility and government.
  • Review evidence obtain in liability investigations to evaluate a claim for success in recovery through litigation or arbitration.
  • Document measurements and relevant data to author estimates and appraisals utilizing Xactimate 28software.
  • Charge with answering and defending policy holders and company interests through independent and binding third-party arbitration proceedings.
  • Review departmental reports and financial data; prepare reports of findings, negotiating settlement demands or recommending litigation.
  • Prepare computerize estimates utilizing Xactimate and document all activity associate with the claim in clients web base claims management system.
  • Show more

Insurance underwriter vs adjuster skills

Common insurance underwriter skills
  • Health Insurance, 11%
  • Insurance Underwriting, 8%
  • Insurance Coverage, 8%
  • Customer Service, 8%
  • Underwriting Guidelines, 7%
  • Insurance Products, 6%
Common adjuster skills
  • Customer Service, 19%
  • Strong Customer Service, 7%
  • Litigation, 7%
  • Liability Claims, 6%
  • Policy Coverage, 6%
  • Insurance Claims, 4%

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