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Job outlook for underwriting specialists in the United States
Underwriting specialist job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected underwriting specialist job growth rate is -4% from 2018-2028.
About -5,500 new jobs for underwriting specialists are projected over the next decade.
Underwriting specialist salaries have increased 6% for underwriting specialists in the last 5 years.
There are over 4,123 underwriting specialists currently employed in the United States.
There are 25,164 active underwriting specialist job openings in the US.
The average underwriting specialist salary is $63,325.
Are underwriting specialist jobs in demand?
Underwriting specialist job and salary trends over time
Underwriting specialist jobs over time
Underwriting specialist job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 4,123 | 0.00% |
| 2020 | 3,934 | 0.00% |
| 2019 | 3,891 | 0.00% |
| 2018 | 3,748 | 0.00% |
| 2017 | 3,524 | 0.00% |
Average underwriting specialist salary over time
Underwriting specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $63,325 | $30.44 | +2.5% |
| 2024 | $61,764 | $29.69 | +0.9% |
| 2023 | $61,199 | $29.42 | --0.5% |
| 2022 | $61,534 | $29.58 | +3.1% |
| 2021 | $59,700 | $28.70 | +4.1% |
Underwriting specialist jobs by state
Most common states for underwriting specialists
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 95 | 14% |
| 2 | Wyoming | 579,315 | 77 | 13% |
| 3 | Delaware | 961,939 | 110 | 11% |
| 4 | Iowa | 3,145,711 | 300 | 10% |
| 5 | South Dakota | 869,666 | 85 | 10% |
| 6 | Arizona | 7,016,270 | 646 | 9% |
| 7 | North Dakota | 755,393 | 70 | 9% |
| 8 | Alaska | 739,795 | 65 | 9% |
| 9 | Vermont | 623,657 | 56 | 9% |
| 10 | Colorado | 5,607,154 | 440 | 8% |
| 11 | Utah | 3,101,833 | 243 | 8% |
| 12 | Nebraska | 1,920,076 | 162 | 8% |
| 13 | North Carolina | 10,273,419 | 726 | 7% |
| 14 | Massachusetts | 6,859,819 | 481 | 7% |
| 15 | Oregon | 4,142,776 | 273 | 7% |
| 16 | Kansas | 2,913,123 | 210 | 7% |
| 17 | Rhode Island | 1,059,639 | 78 | 7% |
| 18 | Montana | 1,050,493 | 72 | 7% |
| 19 | Ohio | 11,658,609 | 661 | 6% |
| 20 | Connecticut | 3,588,184 | 221 | 6% |
Most common cities for underwriting specialists
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Lawrenceville | 1 | 3% | $63,442 |
| 2 | Fort Wayne | 5 | 2% | $68,735 |
| 3 | Alpharetta | 1 | 2% | $63,479 |
| 4 | Scottsdale | 2 | 1% | $66,235 |
| 5 | Farmington Hills | 1 | 1% | $63,998 |
| 6 | Sioux Falls | 1 | 1% | $59,003 |
| 7 | New York | 5 | 0% | $88,717 |
| 8 | Chicago | 4 | 0% | $72,357 |
| 9 | Atlanta | 2 | 0% | $63,130 |
| 10 | Los Angeles | 2 | 0% | $78,961 |
| 11 | Boston | 1 | 0% | $98,387 |
| 12 | Columbus | 1 | 0% | $70,959 |
| 13 | Dallas | 1 | 0% | $64,803 |
| 14 | Denver | 1 | 0% | $65,952 |
| 15 | Jersey City | 1 | 0% | $64,004 |
| 16 | Lincoln | 1 | 0% | $52,748 |
| 17 | Phoenix | 1 | 0% | $66,248 |
| 18 | Richmond | 1 | 0% | $57,946 |
| 19 | Santa Ana | 1 | 0% | $78,448 |
| 20 | Tampa | 1 | 0% | $59,135 |
Underwriting Specialist job outlook: Expert opinions
Our panel of underwriting specialist experts
University of Georgia
National Association of Health Underwriters
Insurance Information Institute
Robert Hoyt, Ph.D.
Department Head and Dudley L. Moore Jr. Chair of InsuranceUniversity of Georgia
Risk Management and Insurance Program
What's a day at work look like for an Underwriting Specialist?
Robert Hoyt, Ph.D.: They are training for it now. Due to pandemic restrictions, they are taking classes in a hybrid environment with less face-to-face class time integrated with virtual interaction. Some of their classmates are restricted to their home countries and are joining virtually throughout the class. Group work in our courses is always important, but now they are having to working in teams through virtual platforms. This is how business will be done and it will be increasingly global given the convenience of engaging virtually without the cost of travel. In my opinion, the future work environment in insurance is going to look a lot like how we are educating students currently. However, thankfully, without the masks and with more opportunities for face-to-face socializing with clients and colleagues. As I note in more detail below, I think geographic limits will be much less important going forward due to the ability to be effective through virtual platforms and much more flexibility around where and when we work with be the norm.
Will there be an enduring impact of the coronavirus pandemic on Underwriting Specialists?
Robert Hoyt, Ph.D.: I think it is clear that the working environment and the necessary skills in insurance have been impacted by the pandemic in ways that will persistent. In some cases it has accelerated trends that were already underway (e.g., increased use of technology, expanded use of remote work, digital strategies). In other cases it has presented a business case for the importance of business resilience and the opportunities to interact with customers and business partners in new and efficient ways. The good news for our graduates is that opportunities in insurance will continue to grow in number and quality and emerging graduates who are digital natives will be perfectively positioned to help organizations embrace these new ways of doing business.
What technical skills for an Underwriting Specialist stand out to employers?
Robert Hoyt, Ph.D.: The ability to collect information, work with data, and translate this into insights and knowledge is key in insurance going forward. An important focus in our classes is helping students apply what they are learning to real business situations through projects that are often carried out in teams. The growth of digital strategies in insurance means that emerging graduates are excited by and embrace the use and application of such approaches. However, the ability to engage with people to assist them in managing their personal or business risks is what matters most in this business. At the end of the day, building relationships and trust are the key in insurance.
Max Wilson
National Association of Health Underwriters
What type of skills will young Underwriting Specialists need?
Max Wilson: The ability to communicate with others is an essential skill that I have noticed many young adults have trouble with. Many of my peers have expressed difficulty when attempting to start a conversation with others. As an agent, communication is key. One thing I have noticed in the months that I shadowed an agent from Colonial was that many business owners do not realize how affordable some insurance policies can be. It's on my generation to be able to communicate these policies in effective ways.
Are there any particularly good places in the United States for Underwriting Specialists to find work opportunities?
Max Wilson: Having exposure to the voluntary benefits side, I have noticed that there can be tremendous room for growth in a variety of densely populated areas such as Northern Alabama, or areas with large recent economic growth.
How do you envision technology impacting Underwriting Specialists in the next 5 years?
Max Wilson: Technology will allow agents to expand their services over a variety of industries. With the development of cybersecurity and telematics, I think there is no limit to what could be insured. When these services become available, we need agents to step up to the plate and inform the consumers.
What type of skills will young Underwriting Specialists need?
Janet Ruiz: The mathematical mind, meet the meaningful purpose (Liberty Mutual). Underwriters are the heart of the insurance process, gathering and researching pertinent information and then, using finely tuned analytical skills to evaluate the acceptability of business and institutional risk. Underwriters are more than just analysts - they are the core relationship builders with agents and clients. They are responsible for managing a profitable portfolio of business by distributing agents and brokers. An underwriting career includes a dynamic blend of analytical and marketing skills. Research, Analytics, Communications, Relationship Building, Marketing.
Are there any particularly good places in the United States for Underwriting Specialists to find work opportunities?
Janet Ruiz: Underwriting jobs may be found at corporate home offices, specialized field offices, or regional offices of insurance companies. Insurance broker agencies also have underwriting positions. Commercial Business and Specialty, Auto and Homeowners insurance all use underwriters.
How do you envision technology impacting Underwriting Specialists in the next 5 years?
Janet Ruiz: Technology will continue to streamline and enhance the underwriting process. Underwriters need to understand digital tools, the use of artificial intelligence, working with technology to enhance work flow.