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The differences between insurance underwriters, sales and insurance sales representatives can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance sales representative has an average salary of $61,386, 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 representative are customer service, excellent time management, and work ethic.
| Insurance Underwriter, Sales | Insurance Sales Representative | |
| Yearly salary | $40,226 | $61,386 |
| Hourly rate | $19.34 | $29.51 |
| Growth rate | 6% | 6% |
| Number of jobs | 50,699 | 201,879 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 59% |
| 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 representative is primarily responsible for securing insurance sales by reaching out to clients through calls, correspondence, and even appointments. They are also responsible for gathering client information, discussing and recommending suitable terms, and even providing advice to meet their needs, all while building rapport to ensure customer satisfaction. There are also instances where they have to adjust existing terms, assist in filling out applications, and produce progress reports. Furthermore, it is essential to devise strategies to find new sales opportunities, as most insurance sales representatives must reach a particular sales target.
Insurance underwriters, sales and insurance sales representatives have different pay scales, as shown below.
| Insurance Underwriter, Sales | Insurance Sales Representative | |
| Average salary | $40,226 | $61,386 |
| Salary range | Between $28,000 And $56,000 | Between $38,000 And $97,000 |
| Highest paying City | Los Angeles, CA | Washington, DC |
| Highest paying state | Wisconsin | New York |
| Best paying company | New York Life Insurance | FFL Partners |
| Best paying industry | Insurance | Finance |
There are a few differences between an insurance underwriter, sales and an insurance sales representative in terms of educational background:
| Insurance Underwriter, Sales | Insurance Sales Representative | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 59% |
| 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 representatives' demographics:
| Insurance Underwriter, Sales | Insurance Sales Representative | |
| Average age | 46 | 46 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 53.9% Female, 46.1% |
| 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, 16.2% Asian, 4.9% White, 65.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |