What does a property underwriter do?
Property Underwriters will require skills in underwriting guidelines, sales territories, CPCU, analysis, math, interpersonal communication, and a bachelor's degree in economics, business, accounting, finance, or mathematics for this career choice. Also, on-the-job training may be needed from senior underwriters and completion of certification programs. Paying an annual salary of $82K, those who choose this career will help determine coverage amounts and premiums on property. This may include houses, land, boats, cars, or other properties of sufficient value.
Property underwriter responsibilities
Here are examples of responsibilities from real property underwriter resumes:
- Review individual mortgage origination/post origination documentation and perform database research.
- Review individual mortgage origination/post origination documentation and perform database research.
Property underwriter skills and personality traits
We calculated that 11% of Property Underwriters are proficient in CPCU, Underwriting Guidelines, and Insurance Coverage. They’re also known for soft skills such as Analytical skills, Detail oriented, and Interpersonal skills.
We break down the percentage of Property Underwriters that have these skills listed on their resume here:
- CPCU, 11%
Assisted in improving co-workers professionalism and presentation skills through encouraging participation in industry education (CPCU and Toastmasters).
- Underwriting Guidelines, 10%
Collaborate with carrier and management for implementation of underwriting guidelines while overseeing roll-over book of business and generating new business growth.
- Insurance Coverage, 7%
Determine ACV and update coverage amount accordingly for proper insurance/co-insurance coverage
- Insurance Laws, 6%
Lead underwriting decisions while administering rules and guidelines, insurance laws and regulations and rating manual rules.
- Broker Relationships, 6%
Developed and maintaining agency and broker relationships.
- Commercial Property, 6%
Underwrite and negotiate renewal business with the focus on Commercial Property and General Liability.
"cpcu," "underwriting guidelines," and "insurance coverage" are among the most common skills that property underwriters use at work. You can find even more property underwriter responsibilities below, including:
Analytical skills. To carry out their duties, the most important skill for a property underwriter to have is analytical skills. Their role and responsibilities require that "underwriters must evaluate information from a variety of sources to balance risk against caution." Property underwriters often use analytical skills in their day-to-day job, as shown by this real resume: "performed risk selection analysis on personal lines new business applications and inquires, and established policies. "
Detail oriented. Many property underwriter duties rely on detail oriented. "underwriters must stay focused when reviewing insurance applications because each item may affect the coverage decision.," so a property underwriter will need this skill often in their role. This resume example is just one of many ways property underwriter responsibilities rely on detail oriented: "perform risk analysis; negotiate policy agreements with brokers; develop policy quotes, keep detail and accurate policy records. "
Interpersonal skills. property underwriters are also known for interpersonal skills, which are critical to their duties. You can see how this skill relates to property underwriter responsibilities, because "underwriters need to communicate and relate well with people because much of their work involves dealing with clients or others, such as insurance sales agents." A property underwriter resume example shows how interpersonal skills is used in the workplace: "cited for excellence in interpersonal communications, teamwork, qc review, flexibility and reliability. "
Math skills. For certain property underwriter responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of a property underwriter rely on this skill, as "underwriters need math knowledge to ensure accuracy in determining the probability of losses and calculating appropriate premiums on an insurance policy." For example, this snippet was taken directly from a resume about how this skill applies to what property underwriters do: "mortgage due diligence, quantitative analysis and risk analysis. "
The three companies that hire the most property underwriters are:
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Compare different property underwriters
Property underwriter vs. Insurance analyst
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.
While similarities exist, there are also some differences between property underwriters and insurance analyst. For instance, property underwriter responsibilities require skills such as "cpcu," "underwriting guidelines," "broker relationships," and "property insurance." Whereas a insurance analyst is skilled in "life insurance," "patients," "health insurance," and "powerpoint." This is part of what separates the two careers.
The education levels that insurance analysts earn slightly differ from property underwriters. In particular, insurance analysts are 0.6% more likely to graduate with a Master's Degree than a property underwriter. Additionally, they're 0.1% less likely to earn a Doctoral Degree.Property underwriter vs. Commercial lines manager
An underwriting consultant is an individual who provides underwriting guidelines to underwriters as well as coordinates revision of the underwriting manual. Underwriting consultants are required to handle complex cases and situations by using their strong knowledge of company services, product standards, and underwriting policies. They must use their verbal and written communication skills to guide the account management team across several business segments. Underwriting consultants must also assist with special projects and handle confidential matters assigned by the senior consultant or manager.
Each career also uses different skills, according to real property underwriter resumes. While property underwriter responsibilities can utilize skills like "cpcu," "underwriting guidelines," "insurance coverage," and "insurance laws," commercial lines managers use skills like "risk management," "insurance carriers," "workers compensation," and "account management."
Commercial lines managers earn similar levels of education than property underwriters in general. They're 0.6% more likely to graduate with a Master's Degree and 0.1% less likely to earn a Doctoral Degree.Property underwriter vs. Underwriting account representative
The required skills of the two careers differ considerably. For example, property underwriters are more likely to have skills like "cpcu," "insurance laws," "broker relationships," and "property insurance." But a underwriting account representative is more likely to have skills like "customer service," "processing endorsements," "market trends," and "credit card payments."
When it comes to education, underwriting account representatives tend to earn similar degree levels compared to property underwriters. In fact, they're 4.3% less likely to earn a Master's Degree, and 0.6% less likely to graduate with a Doctoral Degree.Property underwriter vs. Underwriting consultant
Even though a few skill sets overlap between property underwriters and underwriting consultants, there are some differences that are important to note. For one, a property underwriter might have more use for skills like "cpcu," "insurance coverage," "broker relationships," and "commercial property." Meanwhile, some responsibilities of underwriting consultants require skills like "life insurance," "national accounts," "underwriting process," and "underwriting policies. "
Underwriting consultants enjoy the best pay in the health care industry, with an average salary of $86,694. For comparison, property underwriters earn the highest salary in the finance industry.In general, underwriting consultants hold similar degree levels compared to property underwriters. Underwriting consultants are 1.2% more likely to earn their Master's Degree and 0.7% more likely to graduate with a Doctoral Degree.Types of property underwriter
Updated January 8, 2025
