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The differences between insurance underwriters, sales and insurance sales agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance sales agent has an average salary of $49,587, 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 sales agent are customer service, casualty insurance, and work ethic.
| Insurance Underwriter, Sales | Insurance Sales Agent | |
| Yearly salary | $40,226 | $49,587 |
| Hourly rate | $19.34 | $23.84 |
| Growth rate | 6% | 6% |
| Number of jobs | 50,699 | 73,485 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 51% |
| 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 sales agent is an individual who helps an insurance company generate new business by contacting customers and selling one or more types of insurance. Insurance sales agents conduct interviews of prospective clients to get data about their financial resources and explain the features of the various insurance policies. They analyze the clients' existing insurance policies and customize insurance programs to suit their needs. Insurance sales agents also do other administrative tasks, such as keeping records and handling policy renewals.
Insurance underwriters, sales and insurance sales agents have different pay scales, as shown below.
| Insurance Underwriter, Sales | Insurance Sales Agent | |
| Average salary | $40,226 | $49,587 |
| Salary range | Between $28,000 And $56,000 | Between $30,000 And $80,000 |
| Highest paying City | Los Angeles, CA | New York, NY |
| Highest paying state | Wisconsin | Hawaii |
| Best paying company | New York Life Insurance | Torchmark |
| Best paying industry | Insurance | Finance |
There are a few differences between an insurance underwriter, sales and an insurance sales agent in terms of educational background:
| Insurance Underwriter, Sales | Insurance Sales Agent | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance underwriters, sales' and insurance sales agents' demographics:
| Insurance Underwriter, Sales | Insurance Sales Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 51.5% Female, 48.5% |
| 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, 9.4% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |