Insurance companies make big profits, and joining them as employees is often a high-paying job. Although this description seems very capitalistic, we can't fool ourselves; one works to earn money. One of the most important jobs within these companies is the Underwriting Associate since it is in charge of evaluating the financial risks of both clients and the company itself in order to decide whether a proposal is feasible or not.
The Underwriter Associates receive the submitted forms and sit down to study them. In order to do this, they rely on some computer programs and algorithms, which help them to calculate the risks. Now, if the risk is calculated by computers, what is the role of the Underwriting Associate then? The answer is simple: the Underwriting Associate is responsible for analyzing particular situations that cannot be entrusted to the software. Therefore, to occupy this position, you must be very careful, analytical, and precise, but you also need some cunning and intuition.
Educational requirements for the Underwriting Associate position include a bachelor's degree in a business-related field and a certificate of a business or personal insurance training. In addition, companies almost always require three years of work experience in the same sector. If you get the job, you can earn about $76,000 a year, and depending on your achievements; you can also get some very attractive commissions.