Insurance Underwriter Do You Need A Degree
However some employers may hire you as an underwriter without a degree if you have relevant work experience and computer.
Insurance underwriter do you need a degree. Any coursework in business finance or accounting can be helpful but is not required. A lot of insurers employ underwriting assistants to work in their call centres dealing with immediate quotations and straightforward insurance cover. However insurance related work experience and strong computer skills may be enough for some positions. It s not that the underwriter doesn t need to use analytical skills for such a case but auto insurance policies are so common there s an abundance of data from which levels of risk can be assessed.
People seeking a career in insurance underwriting should have at least a bachelor s degree preferably in a field such as finance or business administration. Bureau of labor states that more than one third of sales agents have a bachelor s degree. Studying finance business economics and math can help you gain a strong foundation of knowledge according to the united states bureau of labor statistics bls. Find schools for insurance underwriters near you.
A master of business administration degree can be a useful credential depending on the firm. Courses in business finance economics and mathematics are particularly helpful. You may be able to join an underwriting team in one of these roles and then work your way up. Companies set their own entry requirements but it will help your chances of finding work if you have gcses in english and maths and some a levels.
Get the education you need. Courses in business finance economics and mathematics are particularly helpful. Common courses in a 4 year bachelor s. When insurance policies are for something less common or include variables that are less common or less predictable underwriters need to rely more on their own experience knowledge and insight.
Employers prefer to hire candidates who have a bachelor s degree. To become an insurance underwriter you must have a bachelor s degree. While a bachelor s degree is not required for an insurance agent it can be helpful. However several popular options can provide you with the skills you will need.
A high degree of computer literacy is important as the position involves performing data analysis which is commonly computerized. There is no single degree that that makes for success as an insurance underwriter.
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