Average Annual Pay
Annual Survey of Hours and Earning 2017
Average Weekly Hours
Annual Survey of Hours and Earning 2015
Labour Force Survey 2018
Future employment projections (Working Futures UK)
Insurance underwriters identify and measure the risks associated with an activity, determine whether this risk is insurable and issue insurance polices which provide financial compensation in the event of loss.
QualificationsThere are no formal academic requirements, although many employers expect entrants to study for and attain the associateship examinations of the Chartered Insurance Institute. Entrants to professional examinations usually require GCSEs/S grades and A levels/H grades, an Advanced GNVQ/GSVQ Level III, or a BTEC/SQA award.
- receives and assesses proposals and propositions for insurance from brokers and clients;
- identifies and evaluates the risks associated with a proposal;
- liaises with insurance surveyors, actuaries and risk managers where the risks associated with a proposal are not clear;
- calculates premiums, provides quotations and, if acceptable to the client, issues policies;
- ensures that the insurance policy clearly defines the liabilities accepted and any exceptions or exclusions;
- negotiates terms of reinsurance contracts.
Common job titles
Destination of Leavers survey, supplied by the Higher Education Statistics.