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The differences between underwriting specialists and personal lines underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a personal lines underwriter has an average salary of $69,706, which is higher than the $63,325 average annual salary of an underwriting specialist.
The top three skills for an underwriting specialist include customer service, underwriting guidelines and financial statements. The most important skills for a personal lines underwriter are insurance policies, underwriting decisions, and loss ratio.
| Underwriting Specialist | Personal Lines Underwriter | |
| Yearly salary | $63,325 | $69,706 |
| Hourly rate | $30.44 | $33.51 |
| Growth rate | -4% | -4% |
| Number of jobs | 25,164 | 19,754 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 64% |
| Average age | 44 | 44 |
| Years of experience | - | - |
An underwriting specialist is responsible for reviewing clients' applications in availing financial services and determining their eligibility by analyzing credit scores and risk potential. Underwriting specialists record all necessary information and may ask for additional requirements for further investigation. They assess policy applications and implement terms and conditions upon approval and ensure that the clients understood the process to prevent miscommunication and payment delays. An underwriting specialist must have extensive knowledge of the loan and insurance disciplines to identify coverage and limitations for efficient contract negotiations.
A personal lines underwriter works at insurance companies to ensure that clients are eligible to receive insurance services. Their responsibilities include gathering and analyzing insurance applications, verifying client information, studying financial histories and occupational risks, and conducting interviews. They may also perform clerical support tasks such as preparing and processing documents, handling calls and correspondence, and updating databases. Moreover, a personal lines underwriter typically works in a team setting, which requires an active communication line for a smooth and efficient workflow.
Underwriting specialists and personal lines underwriters have different pay scales, as shown below.
| Underwriting Specialist | Personal Lines Underwriter | |
| Average salary | $63,325 | $69,706 |
| Salary range | Between $39,000 And $101,000 | Between $43,000 And $111,000 |
| Highest paying City | Boston, MA | New York, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | AIG | Capital Group |
| Best paying industry | Finance | Insurance |
There are a few differences between an underwriting specialist and a personal lines underwriter in terms of educational background:
| Underwriting Specialist | Personal Lines Underwriter | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriting specialists' and personal lines underwriters' demographics:
| Underwriting Specialist | Personal Lines Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 39.0% Female, 61.0% | Male, 43.1% Female, 56.9% |
| Race ratio | Black or African American, 8.9% Unknown, 2.5% Hispanic or Latino, 10.0% Asian, 5.8% White, 72.4% American Indian and Alaska Native, 0.4% | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.8% Asian, 5.7% White, 72.5% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |