- 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.
Typical Education Level
Level 3 NVQ; A Levels
Will retirement created job openings
In the UK, 11% in this profession are aged 55 or above.* They will likely retire in the next 10 years, creating a demand for new workers
*This is based on national data
Average annual earnings
The current average wage for insurance underwriter is £29,328
The number of jobs in the career for the current year is 610. Job counts include both employed and self-employed persons, and do not distinguish between full- and part-time jobs.
Over the past year, jobs have been posted for insurance underwriter roles.
How well does it pay?
Normal pay for this occupation is £29,328 per year. That is about £2,444 per month or £15.04 per hour. New workers generally start on £21,923, while highly experienced workers can earn as much as £53,123
Is it growing or declining?
This career has shrunk over the last 2 years, and is expected to remain the same over the next 4 years. Currently, 610 people are employed in the region.