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Insurance underwriter, sales vs insurance underwriter

The differences between insurance underwriters, sales and insurance underwriters 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 $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 underwriter are health insurance, insurance underwriting, and insurance coverage.

Insurance underwriter, sales vs insurance underwriter overview

Insurance Underwriter, SalesInsurance Underwriter
Yearly salary$40,226$64,163
Hourly rate$19.34$30.85
Growth rate6%-4%
Number of jobs50,69939,026
Job satisfaction-3
Most common degreeBachelor's Degree, 55%Bachelor's Degree, 67%
Average age4644
Years of experience--

What does an insurance underwriter, sales do?

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.

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.

Insurance underwriter, sales vs insurance underwriter salary

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

Insurance Underwriter, SalesInsurance Underwriter
Average salary$40,226$64,163
Salary rangeBetween $28,000 And $56,000Between $35,000 And $116,000
Highest paying CityLos Angeles, CAHartford, CT
Highest paying stateWisconsinConnecticut
Best paying companyNew York Life InsuranceCiti
Best paying industryInsurance-

Differences between insurance underwriter, sales and insurance underwriter education

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

Insurance Underwriter, SalesInsurance Underwriter
Most common degreeBachelor's Degree, 55%Bachelor's Degree, 67%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Insurance underwriter, sales vs insurance underwriter demographics

Here are the differences between insurance underwriters, sales' and insurance underwriters' demographics:

Insurance Underwriter, SalesInsurance Underwriter
Average age4644
Gender ratioMale, 61.0% Female, 39.0%Male, 33.4% Female, 66.6%
Race ratioBlack 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, 9.2% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 72.3% American Indian and Alaska Native, 0.4%
LGBT Percentage7%9%

Differences between insurance underwriter, sales and insurance underwriter duties and responsibilities

Insurance underwriter, sales example responsibilities.

  • Used consultative upselling techniques to provide leads
  • Sell life and health insurance, annuities and mutual funds.
  • Facilitate communications between doctors, hospitals, third party insurance companies and patients to obtain and verify patient billing information.
  • License in life, health and annuities.CLU certificate in pension planning.
  • Deliver on the GEICO promise to customers by solving problems and giving competent insurance advice in a courteous and proficient manner.

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

Insurance underwriter, sales vs insurance underwriter skills

Common insurance underwriter, sales skills
  • Lead Generation, 27%
  • Financial Services, 13%
  • Customer Service, 6%
  • Sales Process, 6%
  • Strong Work Ethic, 5%
  • Insurance Carriers, 4%
Common insurance underwriter skills
  • Health Insurance, 11%
  • Insurance Underwriting, 8%
  • Insurance Coverage, 8%
  • Customer Service, 8%
  • Underwriting Guidelines, 7%
  • Insurance Products, 6%