Finance & accounting

Insurance underwriter

Insurance underwriters decide whether to insure a person or company, and set out the details of insurance policies.

Annual Salary

£18,000 to £65,000

Working hours

36 to 38 a week

You could work: between 8am and 6pm;

2.9%
Future employment

There will be 2.9% more Insurance underwriter jobs in 2027.
In your local area

What's it all about?

Day-to-day tasks

In your day-to-day tasks you could:

  • study insurance proposals
  • gather background information like medical histories
  • analyse statistics from actuaries and other sources
  • get specialist risk assessments from experts like surveyors or doctors
  • assess the likelihood of an insurance payout
  • calculate the price of insurance premiums
  • judge whether to share the risk with another insurer
  • prepare quotes and negotiate terms with brokers or business clients
  • write policies

Working environment

You could work in an office.

You can get into this job through:

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

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

  • business studies
  • finance
  • economics
  • maths

It will help to get some relevant work experience whilst you're studying, for example through an internship.

Entry requirements

You'll usually need:

  • 2 to 3 A levels, or equivalent, for a degree
For more information
College

You could do a T Level in Finance and then apply for trainee insurance underwriter roles and work towards further qualifications on the job.

Entry requirements

You'll need:

  • 4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths for a T level
For more information
Apprenticeship

You could start by doing an insurance practitioner advanced apprenticeship.

You could also take an insurance professional higher apprenticeship, depending on your background and qualifications.

These take between 24 to 36 months to complete with a mix of workplace learning and study.

Entry requirements

You'll usually need:

  • 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
For more information
Work

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

Employers set their own entry requirements, but it will 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.

More 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 Step Forward.

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.

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

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

Skills required and how your skills match up

What skills are required?

  • to be thorough and pay attention to detail
  • analytical thinking skills
  • the ability to work well with others
  • excellent verbal communication skills
  • maths knowledge
  • the ability to use your judgement and make decisions
  • customer service skills
  • administration skills
  • knowledge of medicine and dentistry
  • to be able to use a computer and the main software packages confidently
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