How to hire an underwriting consultant

How to hire an underwriting consultant, step by step

Here's a step-by-step underwriting consultant hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write an underwriting consultant job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new underwriting consultant
• Step 8: Go through the hiring process checklist

What does an underwriting consultant do?

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1. Identify your hiring needs

   Before you start hiring an underwriting consultant, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   An underwriting consultant's background is also an important factor in determining whether they'll be a good fit for the position. For example, underwriting consultants from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   Here's a comparison of underwriting consultant salaries for various roles:

   Type of Underwriting Consultant	Description	Hourly rate
   Underwriting Consultant	Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.	$23-49
   Closer	The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions... Show more	$9-19
   Mortgage Banker	A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.	$4-37

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Life Insurance
   • National Accounts
   • Underwriting Guidelines
   • Underwriting Decisions
   • Underwriting Process
   • Underwriting Policies
   • Strong Analytical
   • Approval Authority
   • Medical History
   • Stop Loss
   • Appeals
   • RFP
   • Calculation
   • Financial Objectives

   Check all skills

   Responsibilities:

   • Risk assessment to achieve profitability on assign book of business through renewal calculations and RFP responses.
   • Provide evidence and assurance that the credit quality of the portfolio remains within standards establish by senior management.
   • Review lender appeals to determine if the documentation provide cures the deficiencies.
   • Direct responsibility for monitoring and auditing lending activity and loan portfolio to ensure compliance with regulations.
   • Review of appeals; concluding and processing the finalization; communicating the adjustments to the original underwriter for educational purposes.
   • Monitor performance, to include turn-times, productivity, volume, QC audits on a daily basis.

   More underwriting consultant duties

3. Make a budget

   Including a salary range in your underwriting consultant job description is one of the best ways to attract top talent. An underwriting consultant can vary based on:

   • Location. For example, underwriting consultants' average salary in florida is 43% less than in massachusetts.
   • Seniority. Entry-level underwriting consultants 52% less than senior-level underwriting consultants.
   • Certifications. An underwriting consultant with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in an underwriting consultant's salary.

   Average underwriting consultant salary

   $71,693yearly

   $34.47 hourly rate

   ---

   Entry-level underwriting consultant salary

   $49,000 yearly salary

   Updated December 14, 2025

   Average underwriting consultant salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Massachusetts	$95,420	$46
   2	Colorado	$92,869	$45
   3	California	$91,741	$44
   4	Minnesota	$86,518	$42
   5	Washington	$86,116	$41
   6	Oregon	$85,865	$41
   7	Connecticut	$85,131	$41
   8	District of Columbia	$82,994	$40
   9	New Hampshire	$81,555	$39
   10	New York	$81,371	$39
   11	Wisconsin	$79,614	$38
   12	Pennsylvania	$78,598	$38
   13	Ohio	$78,199	$38
   14	Maine	$77,931	$37
   15	Georgia	$77,834	$37
   16	Nevada	$77,689	$37
   17	Indiana	$75,732	$36
   18	North Dakota	$74,989	$36
   19	North Carolina	$73,835	$36
   20	Arizona	$73,794	$35

   Average underwriting consultant salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	CVS Health	$101,205	$48.66	12
   2	W. R. Berkley	$99,800	$47.98	33
   3	Aetna	$92,714	$44.57
   4	Legal & General Investment Management America	$91,117	$43.81
   5	BERKLEY TECHNOLOGY SERVICES	$82,185	$39.51	65
   6	HCSC	$82,161	$39.50	4
   7	Nationwide	$81,595	$39.23	8
   8	Reinsurance Group of America	$80,790	$38.84	2
   9	Gallagher	$79,916	$38.42
   10	Transamerica Corporation	$79,614	$38.28
   11	EMC Insurance	$79,379	$38.16	5
   12	Liberty Mutual Insurance	$78,214	$37.60	39
   13	MetLife	$78,040	$37.52
   14	Munich Reinsurance America, Inc.	$77,973	$37.49	1
   15	Prudential Financial	$77,438	$37.23
   16	Clinical Reference Laboratory	$77,190	$37.11
   17	CNA Insurance	$76,426	$36.74	76
   18	Swiss Reinsurance America Corporation	$75,683	$36.39	1
   19	Elevance Health	$75,532	$36.31
   20	Prudential Bank	$75,515	$36.31	11

4. Writing an underwriting consultant job description

   A good underwriting consultant job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of an underwriting consultant job description:

   Underwriting consultant job description example

   At EMC, you'll put your skills to good use as an important member of our team. You can count on gaining valuable experience while contributing to the company's success. EMC strives to hire and retain the best people by engaging, developing and rewarding employees.
   
   Evaluates, classifies, and accepts or rejects life insurance applications by determining acceptable risks. Reviews and identifies advanced financial and complex medical cases. Communicates with appropriate individuals to obtain necessary information and resolve service issues. Completes quality audits and assists in training and in the development of underwriting guidelines.
   Essential Functions:
   
   Evaluates medical, personal, and financial information, focusing on complex cases, including coordinating facultative reinsurance submissions. Underwrites life insurance cases with an amount limit up to $2,000,000, and provides 2nd review for less experienced underwriters. Communicates with agents, vendor partners, and internal teams to obtain necessary information to complete/resolve requirements or pending issues timely. Serves as subject matter expert on special projects and the development of underwriting philosophy, guidelines, form review, and product implementation. Ensures compliance with all state and federal regulations, confidentiality, privacy and Medical Information Bureau (MIB) rules. Conducts quality audits of underwriting team and third-party underwriting support vendors, including feedback to team and management. Collaborates with marketing and agency staff through training and effective communication.
   
   Education & Experience:
   
   Bachelor's degree in insurance, business administration, or a medical field, or equivalent relevant experience Six years of experience with life/health underwriting, including two years of advanced underwriting, or relevant experience Completion of LOMA coursework, CLU designation, and/or ALU exams preferred
   
   Knowledge, Skills & Abilities:
   
   Excellent life underwriting knowledge with the ability to make sound decisions Strong knowledge of underwriting forms and applications, as well as medical terminology Superior written and verbal communication skills, including strong telephone etiquette Excellent technical knowledge of computers and insurance administration systems Superior organizational skills and ability to make decisions
   Superior investigative and problem-solving abilities
   
   Our employment practices are in accord with the laws which prohibit discrimination due to race, color, creed, sex, sexual orientation, gender identity, genetic information, religion, age, national origin or ancestry, physical or mental disability, medical condition, veteran status, active military status, citizenship status, marital status or any other consideration made unlawful by federal, state, or local laws.
   
   All of our locations are tobacco free including in company vehicles.
   
   To learn more about why you're gonna love it here, watch the video below.

   Copy this example

   

5. Post your job

   To find the right underwriting consultant for your business, consider trying out a few different recruiting strategies:

   • Consider internal talent. One of the most important sources of talent for any company is its existing workforce.
   • Ask for referrals. Reach out to friends, family members, and current employees and ask if they know or have worked with underwriting consultants they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit underwriting consultants who meet your education requirements.
   • Social media platforms. LinkedIn, Facebook and Twitter now have more than 3.5 billion users, and you can use social media to reach potential job candidates.

   Post your job online:

   • Post your underwriting consultant job on Zippia to find and recruit underwriting consultant candidates who meet your exact specifications.
   • Use field-specific websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit underwriting consultants, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new underwriting consultant

   Once you've selected the best underwriting consultant candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.

   It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.

   After that, you can create an onboarding schedule for a new underwriting consultant. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire an underwriting consultant?