Occupation Summary

Insurance Underwriters

O*NET 13-2053.00

Description:

Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Annual Wages:
$85,945.00
Employment Rate:
Employment is expected to increase by 7.40%.
Education Level:
Bachelor's Degree. According to O*Net, the majority of people employed in this occupation have this level of education.
Endorsement:
Business and Industry

  1. Decline excessive risks.
  2. Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
  3. Evaluate possibility of losses due to catastrophe or excessive insurance.
  4. Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
  5. Review company records to determine amount of insurance in force on single risk or group of closely related risks.
  6. Authorize reinsurance of policy when risk is high.
  7. Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.


National Industry Employment Patterns


Industry % of Insurance Underwriters employed Annual Growth Rate
Insurance carriers 60.3 -0.35
Agencies, brokerages, and other insurance related activities 30.7 0.08


Labor Market Information


2024 Statewide average hourly wage $41.32
2024 National average hourly wage $43.67
2022 National employment 125,500
2022 Texas employment 9,117
Texas projected employment by 2032 9,792
Texas projected annual employment and Turnover openings through 2032 719




TEXAS COUNTY MAP BY WORKFORCE DEVELOPMENT AREA
* Due to confidentiality rules, not all regions may have the data displayed. The sum of all the regions may not be equal to the state total.


Top 10 Relevant Knowledge Areas Relevant Importance Levels
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
80.00%
Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
78.00%
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
65.40%
Sales and Marketing
Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
63.40%
Administrative
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
58.60%
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
54.60%
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
53.80%
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
53.40%
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
48.20%
Psychology
Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
44.00%


Top 10 Relevant Skill Areas Relevant Importance Levels
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
75.00%
Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
75.00%
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
75.00%
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
75.00%
Speaking
Talking to others to convey information effectively.
72.40%
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
70.00%
Active Learning
Understanding the implications of new information for both current and future problem-solving and decision-making.
62.40%
Complex Problem Solving
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
62.40%
Service Orientation
Actively looking for ways to help people.
60.00%
Monitoring
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
60.00%


Top 10 Relevant Abilities Relevant Importance Levels
Written Comprehension
The ability to read and understand information and ideas presented in writing.
77.60%
Written Expression
The ability to communicate information and ideas in writing so others will understand.
75.00%
Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
75.00%
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
72.40%
Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
70.00%
Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
70.00%
Problem Sensitivity
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
67.60%
Speech Clarity
The ability to speak clearly so others can understand you.
67.60%
Speech Recognition
The ability to identify and understand the speech of another person.
65.00%
Near Vision
The ability to see details at close range (within a few feet of the observer).
65.00%


  • Getting Information
    -- Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Making Decisions and Solving Problems
    -- Analyzing information and evaluating results to choose the best solution and solve problems.
  • Analyzing Data or Information
    -- Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Working with Computers
    -- Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Establishing and Maintaining Interpersonal Relationships
    -- Developing constructive and cooperative working relationships with others, and maintaining them over time.
Other Activities


  • Independence
    - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
  • Relationships
    - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.



Tools

Desktop calculator: 10-key calculators;

Desktop computers: Desktop computers;

Notebook computers: Laptop computers; Notebook computers;

Personal computers: Personal computers;


Technology

Data base user interface and query software: Database software; Microsoft Access;

Document management software: IBM FileNet Content Manager;

Electronic mail software: Microsoft Outlook;

Enterprise resource planning ERP software: Fair Isaac Enterprise Decision Management for Insurance; Anodas Software Limited Phoenix; Consilience Software Maven Insurance Automation Suite; CSC nbAccelerator; QualCorp FormsPlus; SIS SEMCI PARTNER; Skywire Software InsBridge;

Financial analysis software: Valen Technologies Risk Manager; RGA AURA; RGA Facultative Application Console; NIIT Technologies WinRisk; Fannie Mae Desktop Underwriter; Fiserv Advanced Underwriting; Delphi Technology; LabOne NET;

Information retrieval or search software: LexisNexis;

Internet browser software: Web browser software;

Object or component oriented development software: C++;

Office suite software: Microsoft Office software;

Operating system software: Microsoft Windows;

Presentation software: Microsoft PowerPoint;

Spreadsheet software: Microsoft Excel; Spreadsheet software;

Word processing software: Word processing software; Microsoft Word;


Related O*NET occupational titles for Insurance Underwriters include:
  • 13-1031.00 Claims Adjusters, Examiners, and Investigators
  • 13-2041.00 Credit Analysts
  • 13-2071.00 Credit Counselors
  • 13-2051.00 Financial and Investment Analysts
  • 13-2054.00 Financial Risk Specialists
  • 41-3021.00 Insurance Sales Agents
  • 43-4131.00 Loan Interviewers and Clerks
  • 13-2072.00 Loan Officers
  • 13-2052.00 Personal Financial Advisors
  • 41-3031.00 Securities, Commodities, and Financial Services Sales Agents


Sources of Additional Information
  • For more information about property and casualty insurance, visit: Insurance Information Institute (III)
  • For more information about certifications, visit: The Institutes
  • The American College of Financial Services
  • National Association of Insurance and Financial Advisors (NAIFA)
  • Insurance Underwriters

  • Contact Texas Workforce Commission
    Labor Market and Career Information  |  101 E. 15th Street, Annex Room 0252  |  Austin, Texas 78778
    Official Website  |  1-800-822-PLAN (7526)  |  512.936.3200

    ** The information in this report may be derived from many sources like O*NET, BLS (Bureau of Labor Statistics), OOH (Occupational Outlook Handbook), and Career One Stop.