Insurance Underwriter

Typical Salary

£15,000 To £100,000

Typical Hours

36 to 38 a week

between 8am and 6pm

How To Become a Insurance Underwriter

You can get into this job through:

a university course
an apprenticeship
working towards this role
a graduate training scheme

College / University

You could take a degree before applying for a place on an insurance company's graduate training scheme. Relevant degrees include:

business studies
finance
economics
maths

2 to 3 A levels, or equivalent, for a degree

Apprenticeship

You could start by doing an advanced apprenticeship in providing financial services insurance or an insurance practitioner advanced apprenticeship.

5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths, for an advanced apprenticeship

4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship

Routes into this Career

You may be able to join an insurance company as a junior underwriter and work your way up by doing qualifications on the job, like those offered by the Chartered Insurance Institute.

Employers set their own entry requirements, but it'll help if you have GCSEs in English and maths, 1 or 2 A levels, and know how to use common office software, including spreadsheets.

Other Routes

You could apply to join a company's graduate training scheme if you've got a degree. Most subjects are accepted though you may have an advantage if you've studied business, maths or economics.

Skills And Knowledge

You'll need:

to be thorough and pay attention to detail
analytical thinking skills
patience and the ability to remain calm in stressful situations
the ability to work well with others
the ability to accept criticism and work well under pressure
knowledge of medicine and dentistry
excellent verbal communication skills
knowledge of English language
to be able to carry out basic tasks on a computer or hand-held device

Day To Day Tasks

Your day-to-day tasks may include:

studying insurance proposals
gathering background information like medical histories
analysing statistics from actuaries and other sources
getting specialist risk assessments from experts like surveyors or doctors
assessing risk (the likelihood of an insurance payout)
calculating the price of insurance premiums
judging whether to share the risk with another insurer
preparing quotes and negotiating terms with brokers or business clients
writing policies
maintaining accurate and detailed records

Working Environment

You could work in an office.

Career Path & Progression

With experience, you could deal with more complex risks.

You could also move into management or apply for related jobs like risk management, loss adjusting and claims management.

Volunteering Opportunities

Volunteering Opportunities are not listed for this job.

Tips & Information

Professional and industry bodies

You could join the Chartered Insurance Institute for professional development and training opportunities.

Further information

You can find out more about working in insurance from the Chartered Insurance Institute and Discover Risk.

Restrictions & Requirements

Restrictions & Requirements are not listed for this job.