Getting insurance is a way of preparing yourself for the future. Often, we don't think about the people involved in processing insurance applications and insurance claims. We mostly talk to insurance agents and customer service specialists regarding our concerns. We are not really exposed to the key people behind insurance operations. One key person involved in everything related to insurance is the underwriting specialist. Underwriting specialists are in charge of assessing insurance applications. They check whether the applicant is considered a "risky" one.

Given that insurance is a business, after all, underwriting specialists are responsible for ensuring that insurance packages and quotations are in line with what the client needs and can afford. They do so while also ensuring that the packages and quotations will still bring in profits to the company. Being an underwriting specialist is a balancing act. You would need to find the best-case scenario, the win-win situation, for both the client and your company.

If you have great decision-making skills and sharp analytical skills, you can try this career!

What Does an Underwriting Specialist Do

There are certain skills that many underwriting specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, math skills and interpersonal skills.

Learn more about what an Underwriting Specialist does

How To Become an Underwriting Specialist

If you're interested in becoming an underwriting specialist, one of the first things to consider is how much education you need. We've determined that 72.5% of underwriting specialists have a bachelor's degree. In terms of higher education levels, we found that 5.1% of underwriting specialists have master's degrees. Even though most underwriting specialists have a college degree, it's possible to become one with only a high school degree or GED.

Learn More About How To Become an Underwriting Specialist

Underwriting Specialist Career Paths

Average Salary for an Underwriting Specialist

Underwriting Specialists in America make an average salary of $63,325 per year or $30 per hour. The top 10 percent makes over $101,000 per year, while the bottom 10 percent under $39,000 per year.
Average Underwriting Specialist Salary
$63,325 Yearly
$30.44 hourly
$39,000
10 %
$63,000
Median
$101,000
90 %

What Am I Worth?

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How To Become an Underwriting Specialist
How To Become an Underwriting Specialist Career Overview

States With The Most Underwriting Specialist Jobs

Mouse over a state to see the number of active underwriting specialist jobs in each state. The darker areas on the map show where underwriting specialists earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Underwriting Specialist Jobs By State

RankStateNumber of JobsAverage Salary
1California1,933$80,234
2Texas1,519$64,332
3Florida1,206$58,675
4New York930$88,630
5Illinois767$71,995
6Pennsylvania748$72,032
7North Carolina726$65,096
8Ohio661$71,508
9Georgia651$62,965
10Arizona646$66,101
11Michigan616$63,810
12Virginia541$58,070
13Massachusetts481$98,238
14Washington468$62,703
15New Jersey455$63,894
16Colorado440$66,038
17Indiana386$66,705
18Maryland384$58,504
19Minnesota361$60,689
20Wisconsin333$65,517
21Tennessee331$53,467
22Missouri330$56,573
23Iowa300$56,880
24Oregon273$60,217
25Alabama268$48,535
26Utah243$55,466
27South Carolina236$49,690
28Connecticut221$81,176
29Kansas210$62,730
30Kentucky205$54,931
31Louisiana194$49,975
32Oklahoma165$56,039
33Nebraska162$52,845
34Nevada154$60,732
35Arkansas153$49,163
36Delaware110$71,351
37New Mexico106$56,742
38Mississippi106$48,142
39Idaho104$55,918
40West Virginia92$56,578
41New Hampshire85$74,330
42South Dakota85$58,268
43Maine83$66,944
44Rhode Island78$64,395
45Wyoming77$52,676
46Hawaii75$56,025
47Montana72$57,136
48North Dakota70$63,313
49Alaska65$45,464
50Vermont56$63,802

Underwriting Specialist Education

Underwriting Specialist Majors

38.2 %
8.7 %

Underwriting Specialist Degrees

Bachelors

72.5 %

Associate

11.7 %

High School Diploma

7.0 %

Top Colleges for Underwriting Specialists

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

3. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

4. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

5. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

6. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

7. Ball State University

Muncie, IN • Private

In-State Tuition
$9,896
Enrollment
15,529

8. Florida State University

Tallahassee, FL • Private

In-State Tuition
$5,656
Enrollment
32,072

9. Butler University

Indianapolis, IN • Private

In-State Tuition
$41,120
Enrollment
4,553

10. University of Wisconsin - Madison

Madison, WI • Private

In-State Tuition
$10,555
Enrollment
30,360

Top Skills For an Underwriting Specialist

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 18.0% of underwriting specialists listed customer service on their resume, but soft skills such as analytical skills and math skills are important as well.

Choose From 10+ Customizable Underwriting Specialist Resume templates

Zippia allows you to choose from different easy-to-use Underwriting Specialist templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Underwriting Specialist resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Underwriting Specialist Resume
Underwriting Specialist Resume
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Underwriting Specialist Resume

Underwriting Specialist Demographics

Underwriting Specialist Gender Distribution

Female
Female
61%
Male
Male
39%

After extensive research and analysis, Zippia's data science team found that:

  • Among underwriting specialists, 61.0% of them are women, while 39.0% are men.

  • The most common race/ethnicity among underwriting specialists is White, which makes up 71.0% of all underwriting specialists.

  • The most common foreign language among underwriting specialists is Spanish at 57.5%.

Work Experience Programs For Underwriting Specialists

Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!

Disputes, Competition & Insurance Program

Company: MinterEllison

Cost: Free

Duration: 3-4 hours

Audit Program

Company: Grant Thornton Australia

Cost: Free

Duration: 5-6 hours

Digital Intelligence in Business Transformation Program

Company: PwC Switzerland

Cost: Free

Duration: 7-8 hours

Women in Commercial Real Estate Program

Company: JLL

Cost: Free

Duration: 2-3 hours

Cybersecurity Program

Company: JPMorgan Chase & Co.

Cost: Free

Duration: 5 hours

Data Analytics and Visualization Program

Company: Accenture North America

Cost: Free

Duration: 5-6 hours

Financial Audit Program

Company: PwC Switzerland

Cost: Free

Duration: 5-6 hours

Data Analytics Program

Company: KPMG AU

Cost: Free

Duration: 2-3 hours

Building Your Personal Brand Program

Company: Ashurst UK

Cost: Free

Duration: 4.5-6 hours

Client Service Program

Company: Bloomberg

Cost: Free

Duration: 5-6 hours

Online Courses For Underwriting Specialist That You May Like

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Best States For an Underwriting Specialist

Some places are better than others when it comes to starting a career as an underwriting specialist. The best states for people in this position are Massachusetts, New York, Connecticut, and California. Underwriting specialists make the most in Massachusetts with an average salary of $98,238. Whereas in New York and Connecticut, they would average $88,630 and $81,176, respectively. While underwriting specialists would only make an average of $80,234 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Underwriting Specialist Jobs:
930
Highest 10% Earn:
$141,000
Location Quotient:
1.09

2. Delaware

Total Underwriting Specialist Jobs:
110
Highest 10% Earn:
$115,000
Location Quotient:
1.31

3. Connecticut

Total Underwriting Specialist Jobs:
221
Highest 10% Earn:
$128,000
Location Quotient:
1
Full List Of Best States For Underwriting Specialists

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Top Underwriting Specialist Employers

Most Common Employers For Underwriting Specialist

RankCompanyAverage SalaryHourly RateJob Openings
1AIG$106,241$51.0820
2Aetna$88,771$42.6816
3Cigna$79,338$38.1417
4JPMorgan Chase & Co.$78,512$37.7514
5Nationwide$77,252$37.1425
6Liberty Mutual Insurance$77,169$37.1023
7Fannie Mae$73,244$35.2134
8Unum$71,308$34.2816
9CNA Insurance$65,202$31.3567
10Humana$64,999$31.2518

Underwriting Specialist Videos