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The differences between insurance underwriters, sales and insurance verification specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance underwriter, sales has an average salary of $40,226, which is higher than the $33,043 average annual salary of an insurance verification specialist.
The top three skills for an insurance underwriter, sales include lead generation, financial services and customer service. The most important skills for an insurance verification specialist are patients, insurance verification, and customer service.
| Insurance Underwriter, Sales | Insurance Verification Specialist | |
| Yearly salary | $40,226 | $33,043 |
| Hourly rate | $19.34 | $15.89 |
| Growth rate | 6% | 6% |
| Number of jobs | 50,699 | 71,688 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 55% | Associate Degree, 27% |
| 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 verification specialist is responsible for confirming a patient's insurance details and eligibility to receive medical care services. Insurance verification specialists review the insurance documents of the patients, including its coverage and limitations, and escalate concerns to the supervisor for immediate resolution. They process paperwork accordingly upon coordinating with the patients and attending health professionals. An insurance verification specialist must have excellent communication and organizational skills, finishing administrative tasks efficiently under minimal supervision.
Insurance underwriters, sales and insurance verification specialists have different pay scales, as shown below.
| Insurance Underwriter, Sales | Insurance Verification Specialist | |
| Average salary | $40,226 | $33,043 |
| Salary range | Between $28,000 And $56,000 | Between $28,000 And $37,000 |
| Highest paying City | Los Angeles, CA | Madison, WI |
| Highest paying state | Wisconsin | New Hampshire |
| Best paying company | New York Life Insurance | St. Luke's Cataract & Laser Institute |
| Best paying industry | Insurance | Pharmaceutical |
There are a few differences between an insurance underwriter, sales and an insurance verification specialist in terms of educational background:
| Insurance Underwriter, Sales | Insurance Verification Specialist | |
| Most common degree | Bachelor's Degree, 55% | Associate Degree, 27% |
| Most common major | Business | Health Care Administration |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance underwriters, sales' and insurance verification specialists' demographics:
| Insurance Underwriter, Sales | Insurance Verification Specialist | |
| Average age | 46 | 46 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 11.4% Female, 88.6% |
| 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, 16.0% Asian, 4.9% White, 66.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |