Save 40% or More on Travel Insurance from Top Carriers We've got exclusive agreements with the leading insurers to sell travel insurance direct. These are the same insurers behind the brands you buy from your travel agent at direct to consumer prices. We cut out the middlemen and save you 40% or more over similar plans from other comparison sites, travel agents, or tour operators. Car insurance: get a quote. Please fill in your details below to get a new quotation. You will be given a Web Reference number, which allows you to recall the. International Travel Guide. Travel and Leisure, Backpackers Guide, Hotels and Hostels & Travel Insurance. Computers and Internet. Get fast, free insurance quotes today. Find affordable insurance coverage for your car, motorcycle, and much more. GEICO has been trusted since 1936. We back our plans with a 100% money back guarantee – cancel your plan within 14 days of purchase and get a full refund, for any reason. Get Top Customer Service With Your Travel Insurance Travel with confidence with our 24/7 customer support. This includes live telephone assistance to help with everything from medical to legal issues on your trip. We give you complimentary e-Travel Alerts, for up-to-the-minute online notifications that let you know about local/regional developments that may affect your trip. And if you need to file or check on the status of a claim, you do that right here on TripInsurance.com. Call: 877-219-8169. We Make It Easier to Compare We designed our website for people who have asked, 'Isn't there a simpler way to buy trip insurance?' On TripInsurance.com it's easy to understand the important features and benefits and plans. To help you pick the right coverage and price, we organize the plans into three coverage categories: Good, Better and Best. We also give you professional evaluations and reviews of each plan so you know their Pros and Cons. You Get Better Value We've negotiated exclusive policies at direct-to-consumer rates from some of the largest and most reputable companies in the travel insurance business. These are the very same insurance companies that are behind the brands you buy from your travel agent or other consolidator sites. By eliminating the middlemen in the channel, we pass the substantial savings on to you. By buying direct, you save an average of 40% or more on similar or better coverage. We Give You 24/7 Support All of our policies offer 24/7 travel support while you are on your trip. A quick call can help you with travel delays, medical assistance or even emergency evacuation. Every policy comes with e-Travel Alerts to warn you of any problems that might affect your trip. We are the only travel insurance comparison website that helps you file a claim for any policy purchased from us, right here on our website or our 800 phone number. Insurance underwriters determine the risk of insuring a client. Quick Facts: Insurance Underwriters $67,680 per year $32.54 per hour Bachelor's degree None Moderate-term on-the-job training 104,100 -5% (Decline) -5,400 Insurance underwriters decide whether to provide insurance, and under what terms. They evaluate insurance applications and determine coverage amounts and premiums. Insurance underwriters work indoors in offices. Most work full time. Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough for some positions. Certification is generally necessary for advancement to senior underwriter and underwriter manager positions. The median annual wage for insurance underwriters was $67,680 in May 2016. Employment of insurance underwriters is projected to decline 5 percent from 2016 to 2026. Automated underwriting software allows workers to process applications more quickly than before, reducing the need for as many underwriters. Explore resources for employment and wages by state and area for insurance underwriters. Compare the job duties, education, job growth, and pay of insurance underwriters with similar occupations. Learn more about insurance underwriters by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations. Insurance underwriters use computer software programs to determine whether an applicant should be approved. Insurance underwriters decide whether to provide insurance, and under what terms. They evaluate insurance applications and determine coverage amounts and premiums. Most underwriters work full time. Insurance underwriters held about 104,100 jobs in 2016. The largest employers of insurance underwriters were as follows: Direct insurance (except life, health, and medical) carriers 47% Insurance agencies and brokerages 19 Other insurance related activities 6 Direct health and medical insurance carriers 5 Credit intermediation and related activities 4 Underwriters work indoors in offices. Although underwriters spend most of their time working alone on applications at a computer, they sometimes must handle customer inquiries. Some property and casualty underwriters may travel to assess properties in person. Work Schedules Most underwriters work full time. Most firms prefer to hire applicants with a bachelor’s degree. Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough for some positions. Certification is generally necessary for advancement to senior underwriter and underwriter manager positions. Education Most employers prefer to hire applicants who have a bachelor’s degree. Although a specific major is not required, some coursework in business, finance, economics, and mathematics is helpful. Training Beginning underwriters usually work as trainees under the supervision of senior underwriters. Trainees work on basic applications and learn the most common risk factors. Some companies offer training programs that include classroom instruction on the basics of underwriting. As new underwriters gain experience, they work independently and handle more complex applications. Licenses, Certifications, and Registrations Employers often expect underwriters to become certified through coursework. These courses are important for keeping current with new insurance policies and for adjusting to new technology and changes in state and federal regulations. Certification is often necessary for advancement to senior underwriter and underwriter management positions. Many certification options are available. For underwriters with at least 2 years of insurance experience, offer the Chartered Property and Casualty Underwriter (CPCU) designation. For beginning underwriters, The Institutes offer a training program. The Institutes also offer several other designations in insurance specialties, including the Associate in Commercial Underwriting (AU) and Associate in Personal Insurance (API). To earn these designations, underwriters complete a series of courses and exams that generally takes 1 to 2 years. The offers the Life Underwriter Training Council Fellow (LUTCF) designation, which consists of a three-part curriculum in basic insurance concepts. Offers the Chartered Life Underwriter (CLU) certification. This certification consists of five core courses and three electives, and candidates must have 3 years of related work experience. Important Qualities Analytical skills. Underwriters must be able to evaluate information from a variety of sources and solve complex problems. Decisionmaking skills. The core function of an underwriter is making decisions, such as whether to offer insurance coverage and at what level to set premiums. Detail oriented. Underwriters must pay attention to detail, because each individual item on an insurance application can affect the coverage decision. Interpersonal skills. Underwriters need good communication and interpersonal skills because much of their work involves dealing with other people, such as. Determining the probability of losses on an insurance policy and calculating appropriate premiums require mathematical ability. Note: All Occupations includes all occupations in the U.S. Bureau of Labor Statistics, Occupational Employment Statistics The median annual wage for insurance underwriters was $67,680 in May 2016. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $40,160, and the highest 10 percent earned more than $121,430. In May 2016, the median annual wages for insurance underwriters in the top industries in which they worked were as follows: Credit intermediation and related activities $73,060 Direct health and medical insurance carriers 68,480 Direct insurance (except life, health, and medical) carriers 66,990 Insurance agencies and brokerages 66,690 Other insurance related activities 64,720 Most underwriters work full time. Note: All Occupations includes all occupations in the U.S. Bureau of Labor Statistics, Employment Projections program Employment of insurance underwriters is projected to decline 5 percent from 2016 to 2026. Automated underwriting software allows workers to process applications more quickly than before, reducing the need for as many underwriters. As this technology improves and becomes more widely adopted in the insurance industry, more underwriting decisions will likely be made automatically. However, there still will be a need for underwriters to review and update the criteria that run the automation. In addition, their analytical insight will still be needed in complex or specific insurance fields, such as workers’ compensation or marine insurance. Demand for health insurance is also expected to increase and the health insurance industry is projected to grow faster than other insurance industry segments. Insurance underwriters working in health insurance are therefore likely to see stronger employment growth over the coming decade. Employment of insurance underwriters in the direct health and medical insurance carriers industry is projected to grow 15 percent from 2016 to 2026. Job Prospects Job opportunities should be best for those with a background in finance and strong computer and analytical skills. Employment projections data for insurance underwriters, 2016-26 Occupational Title SOC Code Employment, 2016 Projected Employment, 2026 Change, 2016-26 Employment by Industry Percent Numeric SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program Insurance underwriters 13-2053 104,100 98,600 -5 -5,400. State & Area Data Occupational Employment Statistics (OES) The (OES) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OES data maps for employment and wages by state and area. • Projections Central Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved. CareerOneStop CareerOneStop includes hundreds of with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a to search for wages by zip code. Similar Occupations This table shows a list of occupations with job duties that are similar to those of insurance underwriters. Occupation Job Duties ENTRY-LEVEL EDUCATION 2016 MEDIAN PAY Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk of potential events, and they help businesses and clients develop policies that minimize the cost of that risk. Actuaries’ work is essential to the insurance industry. Bachelor's degree $100,610 Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending. Bachelor's degree $73,840 Claims adjusters, appraisers, examiners, and investigators evaluate insurance claims. They decide whether an insurance company must pay a claim, and if so, how much. $63,670 Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry. Bachelor's degree $61,790 Insurance sales agents contact potential customers and sell one or more types of insurance. Insurance sales agents explain various insurance policies and help clients choose plans that suit them. High school diploma or equivalent $49,990 Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses. Bachelor's degree $63,650. Pay The Pay tab describes typical earnings and how workers in the occupation are compensated—annual salaries, hourly wages, commissions, tips, or bonuses. Within every occupation, earnings vary by experience, responsibility, performance, tenure, and geographic area. For most profiles, this tab has a table with wages in the major industries employing the occupation. It does not include pay for self-employed workers, agriculture workers, or workers in private households because these data are not collected by the Occupational Employment Statistics (OES) survey, the source of BLS wage data in the OOH.
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