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The differences between insurance underwriters, sales and insurance agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance agent has an average salary of $51,936, which is higher than the $40,226 average annual salary of an insurance underwriter, sales.
The top three skills for an insurance underwriter, sales include lead generation, financial services and customer service. The most important skills for an insurance agent are customer service, insurance sales, and health insurance.
| Insurance Underwriter, Sales | Insurance Agent | |
| Yearly salary | $40,226 | $51,936 |
| Hourly rate | $19.34 | $24.97 |
| Growth rate | 6% | 6% |
| Number of jobs | 50,699 | 67,977 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 53% |
| Average age | 46 | 46 |
| Years of experience | - | - |
A sales insurance underwriter evaluates new or renewal applications in turn for insurance coverage for companies and individuals. Insurance underwriters analyze insurance proposal risks and identify policy terms. They perform calculations on premiums based on statistical, background, and actuarial information. Several insurance businesses and companies operate graduate schemes that offer to underwrite. Among the necessary skills for this job include communication, decision making, and detail orientation.
An insurance agent is responsible for inviting potential clients to the insurance company by offering different insurance services. Insurance agents must have a comprehensive knowledge of insurance types to provide the clients with the best insurance option in the market. The insurance agents should evaluate a client's long-term needs and financial goals to create individual packages as the insurance company allowed. An insurance agent also handles policy renewals and keeps customers' insurance files for reference.
Insurance underwriters, sales and insurance agents have different pay scales, as shown below.
| Insurance Underwriter, Sales | Insurance Agent | |
| Average salary | $40,226 | $51,936 |
| Salary range | Between $28,000 And $56,000 | Between $30,000 And $88,000 |
| Highest paying City | Los Angeles, CA | New York, NY |
| Highest paying state | Wisconsin | Hawaii |
| Best paying company | New York Life Insurance | Z Capital Group |
| Best paying industry | Insurance | Finance |
There are a few differences between an insurance underwriter, sales and an insurance agent in terms of educational background:
| Insurance Underwriter, Sales | Insurance Agent | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance underwriters, sales' and insurance agents' demographics:
| Insurance Underwriter, Sales | Insurance Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 51.6% Female, 48.4% |
| Race ratio | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 16.0% Asian, 4.9% White, 66.1% American Indian and Alaska Native, 0.1% | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 15.8% Asian, 4.9% White, 66.4% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |