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The differences between insurance underwriters and carriers 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 $37,242 average annual salary of a carrier.
The top three skills for an insurance underwriter include health insurance, insurance underwriting and insurance coverage. The most important skills for a carrier are logistics, newspapers, and delivery sequence.
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.
The duties of a carrier primarily depend on their industry or organization of employment. In the logistics industry, a carrier is responsible for delivering goods in a timely and efficient manner. Their tasks usually include traveling to different areas to deliver or pick-up packages, handling documentation, coordinating with logistics managers, and communicating with the clients to answer any inquiries or provide delivery updates. Moreover, a carrier performs regular vehicle maintenance checks and complies with traffic rules and regulations for a smooth and efficient workflow.
Insurance underwriters and carriers have different pay scales, as shown below.
| Insurance Underwriter | Carrier | |
| Average salary | $64,163 | $37,242 |
| Salary range | Between $35,000 And $116,000 | Between $19,000 And $69,000 |
| Highest paying City | Hartford, CT | Cupertino, CA |
| Highest paying state | Connecticut | Oregon |
| Best paying company | Citi | Meta |
| Best paying industry | - | Professional |
There are a few differences between an insurance underwriter and a carrier in terms of educational background:
| Insurance Underwriter | Carrier | |
| Most common degree | Bachelor's Degree, 67% | High School Diploma, 33% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between insurance underwriters' and carriers' demographics:
| Insurance Underwriter | Carrier | |
| Average age | 44 | 49 |
| Gender ratio | Male, 33.4% Female, 66.6% | Male, 61.7% Female, 38.3% |
| Race ratio | Black 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, 10.9% Unknown, 4.3% Hispanic or Latino, 16.7% Asian, 6.5% White, 61.1% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 9% | 9% |