Insurance Underwriter Education Requirements


Insurance Underwriter education is an important requirement for assessing the different risks involved every year and the adequate insurance required for them, as a result. The insurance underwriters are required to calculate the risks involved for each policy holder and determine the appropriate policy for it to cover the risk. There are colleges and universities that offer courses related to this field. There are private courses and training institutes available that deal specifically with risk calculation and insurance determination. There are no official specific requirements from the insurance underwriter. However, insurance companies require a minimum graduate degree from the aspiring insurance underwriter.

Insurance Underwriter Education Requirements:

  • A high school degree with excellent grade point average in Mathematics and English is very important for an aspiring insurance underwriter.
  • There are colleges and universities that offer degrees related to business management, commerce and finances that should be taken up in order to understand and calculate insurance risk claims.
  • Private certificate courses can be taken up for insurance policy management as well as enhancing communication skills that are necessary while dealing with many clients.
  • Computing is an important part of the underwriter’s job and hence private computer courses should be taken up. This will provide an advantage while on the job.
  • High School Degree
  • Bachelor’s Degree in Commerce, Business Management
  • Master’s Degree in Commerce, Business Management/ MBA Degree
  • Certification in Insurance risk management and policy management
  • Computer Certification in MS Office and data calculation
  • Certification in Oral Communication

Insurance Underwriter Degrees, Courses and Certifications:

Insurance Underwriter Qualifications and Training:

The insurance underwriters need to possess both adequate academic qualification as well as training. It is important to pursue post graduate courses to strengthen the necessary knowledge required in this field. Various colleges and institutes offer internships that help develop the skills for risk and insurance calculation. An insurance company can suffer severe loss if the calculations made by the underwriter are wrong. It is also necessary for the underwriter to be computer savvy and perform calculations on the computer. Sufficient training is, hence, required for this and can be done from various private institutes.

Insurance Underwriter Colleges and Universities:

Insurance Underwriter Wages and Salaries:

According to the U.S Bureau of Labor Statistics, the starting annual average income of an insurance underwriter is around $60,000. Insurance underwriters with 8 years and more experience earn around $89,000 to $105,000 per annum.

Category: Insurance Education Requirements

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