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The differences between underwriting technicians and property underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a property underwriter has an average salary of $71,730, 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 a property underwriter are CPCU, underwriting guidelines, and insurance coverage.
| Underwriting Technician | Property Underwriter | |
| Yearly salary | $44,704 | $71,730 |
| Hourly rate | $21.49 | $34.49 |
| Growth rate | -4% | -4% |
| Number of jobs | 8,615 | 11,643 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 75% |
| Average age | 44 | 44 |
| Years of experience | - | - |
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.
Property Underwriters will require skills in underwriting guidelines, sales territories, CPCU, analysis, math, interpersonal communication, and a bachelor's degree in economics, business, accounting, finance, or mathematics for this career choice. Also, on-the-job training may be needed from senior underwriters and completion of certification programs. Paying an annual salary of $82K, those who choose this career will help determine coverage amounts and premiums on property. This may include houses, land, boats, cars, or other properties of sufficient value.
Underwriting technicians and property underwriters have different pay scales, as shown below.
| Underwriting Technician | Property Underwriter | |
| Average salary | $44,704 | $71,730 |
| Salary range | Between $28,000 And $69,000 | Between $45,000 And $111,000 |
| Highest paying City | - | Boston, MA |
| Highest paying state | - | Massachusetts |
| Best paying company | - | Chubb |
| Best paying industry | - | Finance |
There are a few differences between an underwriting technician and a property underwriter in terms of educational background:
| Underwriting Technician | Property Underwriter | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriting technicians' and property underwriters' demographics:
| Underwriting Technician | Property Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 25.2% Female, 74.8% | Male, 47.1% Female, 52.9% |
| Race ratio | Black 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, 9.7% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 71.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |