Insurance underwriter

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

In this guide

What you'll do

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.

Career path and progression

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.

What it takes

Skills and knowledge

You'll need:

  • 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
  • to be able to use a computer and the main software packages confidently

Most relevant

  • Mathematics - Insurance underwriters use maths constantly to calculate insurance premiums, assess the probability of claims, and analyse statistical data from actuaries. They need to be confident working with numbers, percentages, and financial models to price risk accurately.
  • Economics - Insurance underwriters need to understand economic trends, market conditions, and how external factors like inflation or interest rates affect risk and pricing. Economics helps them think about how businesses and individuals make decisions under uncertainty.
  • Business - Insurance underwriters work within the financial services industry and need to understand how businesses operate, manage risk, and generate revenue. They negotiate terms with brokers and clients, so understanding commercial relationships and business strategy is essential.

Also relevant

  • Accounting - Insurance underwriters assess the financial health of companies and individuals when deciding whether to offer cover. Understanding financial statements, profit and loss, and how money flows through a business helps them evaluate risk more effectively.
  • English Language - Insurance underwriters write detailed policy documents that must be precise and unambiguous, as these become legal contracts. They also need strong communication skills to negotiate terms with brokers and explain complex decisions clearly.
  • Law - Insurance underwriters write and interpret policy documents that are legally binding contracts. Understanding contract law and regulatory requirements helps them ensure policies are properly worded and that the company meets its legal obligations.
  • Geography - Insurance underwriters assess risks related to natural hazards like flooding, storms, and earthquakes when insuring property or businesses. Understanding how environmental and geographical factors affect risk is important for setting accurate premiums.
  • Psychology - Insurance underwriters make judgements about human behaviour and risk – for example, assessing how likely someone is to make a claim based on their background and circumstances. Understanding decision-making and behavioural patterns can help them evaluate proposals more effectively.

How to become

You can get into this job through:

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

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

More Information

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

More Information

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

More Information

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.

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.

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.

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