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Underwriting technician vs insurance underwriter

The differences between underwriting technicians and insurance underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance underwriter has an average salary of $64,163, which is higher than the $44,704 average annual salary of an underwriting technician.

The top three skills for an underwriting technician include cancellations, insurance policies and data entry. The most important skills for an insurance underwriter are health insurance, insurance underwriting, and insurance coverage.

Underwriting technician vs insurance underwriter overview

Underwriting TechnicianInsurance Underwriter
Yearly salary$44,704$64,163
Hourly rate$21.49$30.85
Growth rate-4%-4%
Number of jobs8,61539,026
Job satisfaction-3
Most common degreeBachelor's Degree, 54%Bachelor's Degree, 67%
Average age4444
Years of experience--

What does an underwriting technician do?

Underwriting technicians may also be known as underwriters or underwriting assistants. They determine which customers qualify for various insurance policies or loans. Their duties include finding information, writing quote letters, checking customer eligibility, and arranging loans. They are expected to carry out background checks and credit history checks for clients seeking insurance. They diligently analyze applications of clients based on certain criteria.

What does an insurance underwriter do?

An insurance underwriter specializes in identifying and assessing financial risks in insurance policies. It is their duty to gather and review insurance applications, understand the coverage of policies and claims, determine a client's ability to uphold financial obligations by studying their personal information, and develop strategies to prevent the impact of risks and financial losses. They may also negotiate with external parties while adhering to the company's rules and regulations. Moreover, there are instances when an insurance underwriter must produce progress reports and presentations for managers and executives.

Underwriting technician vs insurance underwriter salary

Underwriting technicians and insurance underwriters have different pay scales, as shown below.

Underwriting TechnicianInsurance Underwriter
Average salary$44,704$64,163
Salary rangeBetween $28,000 And $69,000Between $35,000 And $116,000
Highest paying City-Hartford, CT
Highest paying state-Connecticut
Best paying company-Citi
Best paying industry--

Differences between underwriting technician and insurance underwriter education

There are a few differences between an underwriting technician and an insurance underwriter in terms of educational background:

Underwriting TechnicianInsurance Underwriter
Most common degreeBachelor's Degree, 54%Bachelor's Degree, 67%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Underwriting technician vs insurance underwriter demographics

Here are the differences between underwriting technicians' and insurance underwriters' demographics:

Underwriting TechnicianInsurance Underwriter
Average age4444
Gender ratioMale, 25.2% Female, 74.8%Male, 33.4% Female, 66.6%
Race ratioBlack or African American, 8.9% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 73.1% American Indian and Alaska Native, 0.4%Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 72.3% American Indian and Alaska Native, 0.4%
LGBT Percentage9%9%

Differences between underwriting technician and insurance underwriter duties and responsibilities

Underwriting technician example responsibilities.

  • Generate business leads by promoting AIG's products and servicing.
  • Assist underwriters in expediting new business, processing endorsements and/or modifying existing policies while achieving broker relationships.
  • Work directly with independent agents and BCBS marketing department to analyze information and make eligibility decisions with strict timelines.
  • Order and code clues and MVRs for renewing umbrella policies.
  • Train staff members on the MMS system.
  • Evaluate new and renewal submissions as delegated by underwriters for prescribe criteria and clearance into AS400 invoicing system.

Insurance underwriter example responsibilities.

  • Manage patient's records, appointments, and account balances while adhering to HIPPA standards.
  • Manage A/R, A/P, credentialing, surgery scheduling, and coordinate patient referrals to other physicians.
  • Manage operating procedure and accounting systems for payroll, operating expenses, supplies and inventory management and commercial accounts.
  • Prepare all HCFA billing with proper ICD-9 codes and CPT codes for accurate turn around time on payments.
  • Follow up with insurance carriers and patients to expedite the recovery of payment obligations
  • File insurance and process billing and payments, coordinate patients financial arrangements, present treatment plans, verify insurance coverage.
  • Show more

Underwriting technician vs insurance underwriter skills

Common underwriting technician skills
  • Cancellations, 17%
  • Insurance Policies, 10%
  • Data Entry, 9%
  • Underwriting Guidelines, 7%
  • Underwriting Analysis, 6%
  • Worksheets, 4%
Common insurance underwriter skills
  • Health Insurance, 11%
  • Insurance Underwriting, 8%
  • Insurance Coverage, 8%
  • Customer Service, 8%
  • Underwriting Guidelines, 7%
  • Insurance Products, 6%

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