Underwriting technician vs underwriting consultant

The differences between underwriting technicians and underwriting consultants can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriting consultant has an average salary of $71,693, 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 underwriting consultant are life insurance, national accounts, and underwriting guidelines.

Underwriting technician vs underwriting consultant overview

	Underwriting Technician	Underwriting Consultant
Yearly salary	$44,704	$71,693
Hourly rate	$21.49	$34.47
Growth rate	-4%	-4%
Number of jobs	8,615	6,804
Job satisfaction	-	5
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 77%
Average age	44	44
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 underwriting consultant do?

An underwriting consultant is an individual who provides underwriting guidelines to underwriters as well as coordinates revision of the underwriting manual. Underwriting consultants are required to handle complex cases and situations by using their strong knowledge of company services, product standards, and underwriting policies. They must use their verbal and written communication skills to guide the account management team across several business segments. Underwriting consultants must also assist with special projects and handle confidential matters assigned by the senior consultant or manager.

Underwriting technician vs underwriting consultant salary

Underwriting technicians and underwriting consultants have different pay scales, as shown below.

	Underwriting Technician	Underwriting Consultant
Average salary	$44,704	$71,693
Salary range	Between $28,000 And $69,000	Between $49,000 And $103,000
Highest paying City	-	Boston, MA
Highest paying state	-	Massachusetts
Best paying company	-	CVS Health
Best paying industry	-	Health Care

Differences between underwriting technician and underwriting consultant education

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

	Underwriting Technician	Underwriting Consultant
Most common degree	Bachelor's Degree, 54%	Bachelor's Degree, 77%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Underwriting technician vs underwriting consultant demographics

Here are the differences between underwriting technicians' and underwriting consultants' demographics:

	Underwriting Technician	Underwriting Consultant
Average age	44	44
Gender ratio	Male, 25.2% Female, 74.8%	Male, 48.2% Female, 51.8%
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, 9.1% Unknown, 2.5% Hispanic or Latino, 9.7% Asian, 5.7% White, 72.8% American Indian and Alaska Native, 0.4%
LGBT Percentage	9%	9%

Differences between underwriting technician and underwriting consultant 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.

Underwriting consultant example responsibilities.

Risk assessment to achieve profitability on assign book of business through renewal calculations and RFP responses.
Provide evidence and assurance that the credit quality of the portfolio remains within standards establish by senior management.
Review lender appeals to determine if the documentation provide cures the deficiencies.
Direct responsibility for monitoring and auditing lending activity and loan portfolio to ensure compliance with regulations.
Review of appeals; concluding and processing the finalization; communicating the adjustments to the original underwriter for educational purposes.
Monitor performance, to include turn-times, productivity, volume, QC audits on a daily basis.

Underwriting technician vs underwriting consultant skills

Common underwriting technician skills

Cancellations, 17%
Insurance Policies, 10%
Data Entry, 9%
Underwriting Guidelines, 7%
Underwriting Analysis, 6%
Worksheets, 4%

Common underwriting consultant skills

Life Insurance, 16%
National Accounts, 10%
Underwriting Guidelines, 9%
Underwriting Decisions, 8%
Underwriting Process, 4%
Underwriting Policies, 4%

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Underwriting Technician
Underwriting Technician vs Underwriting Consultant

Updated January 8, 2025

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