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The differences between life underwriters and insurance analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, a life underwriter has an average salary of $78,633, which is higher than the $55,424 average annual salary of an insurance analyst.
The top three skills for a life underwriter include underwriting decisions, risk selection and health insurance. The most important skills for an insurance analyst are insurance coverage, insurance policies, and life insurance.
| Life Underwriter | Insurance Analyst | |
| Yearly salary | $78,633 | $55,424 |
| Hourly rate | $37.80 | $26.65 |
| Growth rate | -4% | -4% |
| Number of jobs | 16,767 | 44,280 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 58% |
| Average age | 44 | 44 |
| Years of experience | - | - |
A life underwriter is a person who helps give the insurer a detailed outlook on their health and presents them with a premium. An underwriter works for an insurance company and examines an insurer's eligibility for certain benefits. They then evaluate the application depending on their capacity to pay and their current health status. Also, they need to inform them about the advantages and disadvantages of having life insurance.
An insurance analyst provides analytical services to maintain an efficient workflow at insurance companies. They are typically in charge of evaluating insurance policies to identify possible risks for the policyholder and the company, validating client information, and reviewing insurance applications to ensure their accuracy. They may meet with clients to answer inquiries, make arrangements, and advise which policies suit them the best. Moreover, an insurance analyst may process policy renewals and amendments, maintain records, perform cancellations, and investigate claims while adhering to the company's policies and regulations.
Life underwriters and insurance analysts have different pay scales, as shown below.
| Life Underwriter | Insurance Analyst | |
| Average salary | $78,633 | $55,424 |
| Salary range | Between $53,000 And $116,000 | Between $34,000 And $88,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | California |
| Best paying company | - | Credit Karma |
| Best paying industry | - | - |
There are a few differences between a life underwriter and an insurance analyst in terms of educational background:
| Life Underwriter | Insurance Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between life underwriters' and insurance analysts' demographics:
| Life Underwriter | Insurance Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 41.7% Female, 58.3% | Male, 28.7% Female, 71.3% |
| Race ratio | Black or African American, 8.8% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 73.0% American Indian and Alaska Native, 0.4% | Black or African American, 11.1% Unknown, 2.4% Hispanic or Latino, 9.0% Asian, 5.4% White, 71.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |