Insurance Underwriters

An Insurance Underwriter evaluates and measures risk and advises businesses in insurance, banking and securities. Recommends customers to be approved for insurance coverage and develops policies and premium levels. Reviews loan applications, evaluates credit-worthiness of loan applicants, and analyses the investment risk of a loan for the bank. Evaluates risk in different types of securities and advises clients on investments that will yield highest profits.

About this Career

Average Salary

£30,682

New workers start at around £19,086. Normal pay is £30,682 per year. Highly experienced workers can earn up to £61,598

Annual Openings

20

Job counts include both employed and self-employed persons in London, and do not distinguish between full and part-time jobs

Daily Tasks

  • Negotiates terms of reinsurance contracts.
  • Ensures that the insurance policy clearly defines the liabilities accepted and any exceptions or exclusions.
  • Calculates premiums, provides quotations and, if acceptable to the client, issues policies.
  • Liaises with insurance surveyors, actuaries and risk managers where the risks associated with a proposal are not clear.
  • Identifies and evaluates the risks associated with a proposal.
  • Receives and assesses proposals and propositions for insurance from brokers and clients.

Skills Employers are looking for

Skills Importance
Writing 70%
Active Listening 70%
Active Learning 68%
Speaking 66%
Learning Strategies 66%
Critical Thinking 65%
Reading Comprehension 65%
Monitoring 64%
Mathematics 46%
Science 14%