Insurance Underwriters
SOC Code: 13-2053 Job Zone 4: Considerable Preparation Needed
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
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Prevailing Wage Levels (National)
DOL/OFLC prevailing wage thresholds for Insurance Underwriters. Hourly rates x 2,080 = annual.
FY2027 Weighted Lottery Impact
| Level | Lottery Entries | Est. Selection Rate |
|---|---|---|
| Level I (Entry) | 1 entry | ~16% |
| Level II (Qualified) | 2 entries | ~31% |
| Level III (Experienced) | 3 entries | ~45% |
| Level IV (Expert) | 4 entries | ~61% |
Prevailing Wages by Metro Area
| Metro Area | Level I | Level II | Level III | Level IV |
|---|---|---|---|---|
| Northwest Colorado nonmetropolitan area | $75,421 | $99,486 | $123,573 | $147,638 |
| Denver-Aurora-Centennial, CO | $75,712 | $99,528 | $123,365 | $147,181 |
| Boulder, CO | $74,402 | $97,822 | $121,243 | $144,664 |
| Greeley, CO | $73,445 | $96,200 | $118,976 | $141,731 |
| Southwest Colorado nonmetropolitan area | $72,301 | $94,765 | $117,208 | $139,672 |
| Grand Junction, CO | $71,906 | $93,912 | $115,939 | $137,946 |
| Eastern and Southern Colorado nonmetropolitan area | $71,864 | $93,725 | $115,586 | $137,446 |
| Seattle-Tacoma-Bellevue, WA | $69,451 | $91,374 | $113,277 | $135,200 |
| Wenatchee-East Wenatchee, WA | $69,118 | $90,979 | $112,861 | $134,722 |
| Mount Vernon-Anacortes, WA | $67,974 | $89,752 | $111,509 | $133,286 |
Key Skills
| Skill | Importance | Level |
|---|---|---|
| Critical Thinking | 3.8 | |
| Active Listening | 3.8 | |
| Writing | 3.8 | |
| Reading Comprehension | 3.8 | |
| Speaking | 3.6 | |
| Judgment and Decision Making | 3.5 | |
| Complex Problem Solving | 3.1 | |
| Active Learning | 3.1 | |
| Coordination | 3.0 | |
| Service Orientation | 3.0 |
Knowledge Areas
| Knowledge | Importance |
|---|---|
| English Language | 4.0 |
| Customer and Personal Service | 3.9 |
| Mathematics | 3.3 |
| Sales and Marketing | 3.2 |
| Administrative | 2.9 |
| Economics and Accounting | 2.7 |
| Law and Government | 2.7 |
| Computers and Electronics | 2.7 |
Education Requirements
| Education Level | % of Workers |
|---|---|
| Bachelor's degree | 70.0% |
| High school diploma | 10.0% |
| Associate's degree | 10.0% |
| Post-secondary certificate | 6.7% |
| Master's degree | 3.3% |
Typical Tasks
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- 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.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Authorize reinsurance of policy when risk is high.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
Technology Skills
Green = Hot Technology in demand
C++ Microsoft Access Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft PowerPoint Microsoft Windows Microsoft Word Anodas Software Limited Phoenix CSC nbAccelerator Consilience Software Maven Insurance Automation Suite Database software Delphi Technology Fair Isaac Enterprise Decision Management for Insurance Fannie Mae Desktop Underwriter
Calculate your wage level for Insurance Underwriters →
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