Insurance commercial underwriter job description, Key Duties and Responsibilities

Insurance commercial underwiter
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If you’re looking for an Insurance commercial underwriter job description to learn more about the position, you’ve come to the right place.

This post focuses on the key duties, tasks, and responsibilities that define the Insurance commercial underwriter job description in the majority of organizations.

You will also learn about the major requirements you may be expected to meet in order to be qualified for a position with many companies.

Commercial underwriters assist in the investigation of commercial applicants in order to determine their risk level and present a case for or against insuring them.

Continue reading to learn more about what a commercial underwriter does and how to get started in this field.

What is an underwriter?

An underwriter, also known as an insurance underwriter, is a professional who conducts risk assessments on insurance applicants to determine coverage eligibility. They act as a liaison between insurance companies and government agencies to ensure that company policies are followed at all levels.

Underwriters are in charge of reviewing information on insurance applications, identifying potential risk factors that the client may present, and comparing this information to what an insurance company considers acceptable for approval before deciding whether the applicant should receive coverage.

What Does an Insurance commercial Underwriters Do?

Insurance commercial underwriters are in charge of assessing the risk of commercial transactions. They collaborate closely with brokers, agents, and other insurance professionals to determine which clients should be offered coverage and what types of policies should be provided.

To make sound coverage decisions, commercial underwriters must have a strong understanding of business practices. They must also be able to quickly and accurately analyze large amounts of data. This includes analyzing client information, evaluating their financial health, and determining their likelihood of filing a claim in the future.

Insurance commercial underwriter Job Description

You’ll work for an insurance company as a commercial underwriter, investigating commercial applicants who want to be insured by your company. Your company may provide life, health, property, casualty, or other insurance products. You’ll determine whether the applicant is too risky or if they’ll be too expensive to insure.

You must conduct background research on the applicant, which may include looking into previous insurance coverage and claims, finances, management, assets, and debts. It is critical that you make your recommendation carefully; otherwise, your employer may lose a potentially profitable customer or take a risk and lose money.

To be a successful commercial underwriter, you must think analytically and understand reinsurance. Finally, a top-tier commercial underwriter should be an excellent investigator and researcher.

Insurance commercial underwriter key duties

Commercial underwriters are responsible for a wide range of tasks, which can include:

  • Developing relationships with clients in order to better understand their business styles and needs
  • Examining applications to see if they meet underwriting criteria
  • Negotiating loan and bond terms with borrowers and banks to reach an agreement
  • Examining financial statements, such as balance sheets and income statements
  • Analyzing market conditions and trends to determine a company’s ability to repay its debt obligations
  • Evaluate the company’s financial statements and other business data to see if it qualifies for coverage under a specific insurance policy or bond issue.
  • Investigating claims to determine liability and damage estimates in order to assess risk and price coverage appropriately
  • Reviewing insurance applications from start to finish, including underwriting and issuing policies or bonds
  • Contacting clients on a regular basis to ensure their satisfaction with their coverage and service.

Commercial Insurance Underwriter Salary

A professional working in this field with experience can earn well into the six figures. Those working in specialized fields such as health care, workers’ compensation, or marine insurance have the highest earning potential.

In the United Kingdom, the average commercial underwriter salary is £32,500 per year or £16.67 per hour. Starting salaries for entry-level positions start at £27,500 per year, with most experienced workers earning up to £47,000 per year.

Education, Training, & Certification for an Insurance commercial underwriter

Below are the Education, Training, & Certification for an Insurance commercial underwriter:

Education requirement

Although there are no industry-standard education requirements for commercial underwriters, many insurance companies, particularly larger ones, prefer a bachelor’s degree in business or finance or insurance experience.

Companies frequently train underwriters on the job, so you could start as a trainee and advance to a full-fledged underwriter position once your training is completed. You’ll learn how to use various online databases to gather information on commercial applicants, as well as the necessary computer software programs for the job.

There are also self-study programs available, such as the Insurance Institute of America’s Associate in Commercial Underwriting designation (AU).

Business, mathematics, science, accounting, finance, economics, probabilities and statistics, computer technology, and engineering are the best courses of study for a commercial insurance underwriter. Any degrees related to those fields will be advantageous.

Training for Insurance commercial specialist

If you are hired right out of college, as an Insurance commercial underwriters receive extensive on-the-job training and mentoring. Underwriting trainees are typically paired with more experienced underwriters to learn about policies, procedures, and techniques.

Certification for an Insurance commercial underwriter

Many employers encourage or require underwriting certifications obtained through The Institutes, which specializes in risk management and insurance. Junior underwriters are frequently certified as Associates in Commercial Underwriting or Associates in Personal Insurance.

These certification courses and exams typically take 1-2 years to complete.

Skills Required To Become An Insurance commercial underwriter

To become an insurance underwriter, you’ll need a combination of hard and soft skills such as: 


Excellent communication skills are required for a commercial underwriter in insurance. Commercial insurance underwriters will use written communication skills to understand insurance data and report results.

Analytical thinking

While some decisions are straightforward, many situations necessitate insurance underwriters weighing multiple factors pertaining to a specific applicant. Even underwriting software is only a starting point for many decisions; skilled underwriters must compare automated recommendations to their best judgment.


Each insurance applicant is unique, and each data point can have a different impact on applications. In order to make the best decisions, insurance underwriters must be as precise as possible with this information.

Problem-solving skills

Commercial underwriters assist clients by locating the most appropriate insurance options for them. They can apply their problem-solving skills to find solutions that meet the client’s needs while also ensuring that the company can afford the insurance.

Good knowledge of calculation

Perhaps the most important math skill is an understanding of statistics and probabilities. A large part of the job entails determining an appropriate rate for an applicant based on how likely that applicant is to file a claim based on available data.

Critical decision-making

An underwriter’s job entails making difficult decisions about insurance applicants. In order to make the best decision, they must consider the risks that a potential client presents to an insurance company. This may necessitate denying an applicant coverage.

Is Insurance commercial underwriting a good career?

Insurance commercial underwriting is an excellent career path for those interested in working in finance or insurance. Underwriters typically earn a high salary with opportunities for advancement. Despite a slightly declining job outlook over the next ten years, there are still several companies in need of excellent underwriters.

It also provides numerous opportunities for advancement and numerous on-the-job challenges to keep you engaged as you solve any workplace problems your employees or clients may encounter. This position is also ideal if you prefer a stable work environment where you complete tasks in an office and collaborate with clients and other employees on a daily basis.

FAQs about Insurance commercial underwriter job

What do Insurance commercial underwriter earn UK?

Qualified underwriters usually make between £25,000 and £40,000 per year. Senior/lead underwriter salaries start around £40,000 and can rise to £90,000 with significant experience, depending on location and area of insurance.

What is the role of Insurance commercial underwriter?

Insurance commercial underwriters are in charge of assessing the risk of commercial transactions.

Are there any online schools for insurance underwriters?

2- or 4-year colleges typically offer online underwriting courses. Schools devoted to financial services development and training…

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Insurance commercial underwriters are in charge of assessing the risk of commercial transactions.

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2- or 4-year colleges typically offer online underwriting courses. Schools devoted to financial services development and training…

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Commercial Underwriters typically work in the finance or insurance industries for any company that sells insurance. They work for companies that sell various types of insurance, such as life and health insurance, but their primary focus is on commercial property insurance.

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