How much does an Insurance assistant underwriter earn
A Insurance assistant underwriter earns between $1.476 and $9.365 per month, with an average monthly salary of $3.679 and a median salary of $3.000 according to an Averwage.com salary survey along with to data of professionals hired and fired by companies in the labor market.
Our research is based on the salaries of 3.732 professionals hired and dismissed by the period from 06/2021 to 05/2022 (last year).
| Monthly Salary | Annual Salary | Salary Per Week | Hourly Salary | |
| Average wage | 3.679 | 44.153 | 920 | 18 |
| 1º Quartile | 1.476 | 17.718 | 369 | 7 |
| Median Salary | 3.000 | 36.000 | 750 | 15 |
| 3º Quartile | 7.142 | 85.708 | 1.786 | 35 |
| Higher Salary | 9.365 | 112.382 | 2.341 | 46 |
Professional job categories
- Middle level technicians
- medium level technicians in administrative sciences
- technicians of administrative sciences
- insurance technicians
Related Positions:
Main workplaces
Insurance Technicians they work in insurance and private pension companies, mixed capital companies and government agencies in the insurance area. Work is carried out indoors during daytime hours. They are CLT or statutory workers and are organized as a team, under supervision. Eventually, they are subject to pressures at work that can cause stress.
What does it take to work in the field of Insurance Technicians
The exercise of these occupations requires high school education and professional courses of two hundred to four hundred class hours. The full performance of activities occurs after three to four years of experience.
Functions and activities of Insurance assistant underwriter
Insurance Technicians must:
Activities
- closing processes;
- receive requests for quotation and/or proposals;
- inform data for the preparation of a technical note (sales cost, loss ratio);
- act with persuasion;
- determine the insured's loss ratio;
- obtain information on physical and moral characteristics of the risk;
- increase production through distribution channels;
- process documents (policies, amendments, endorsements, annotations);
- evaluate the dynamics of the claim, with causal link (cause and effect);
- assist in the training and development of personnel involved with the product;
- consult other areas of the company;
- transmit information about customer needs;
- forward processes for reimbursement and/or recovery;
- act with objectivity;
- reconcile current account with reinsurer and co-insurer;
- demonstrate research ability;
- recommend loss prevention measures;
- calculate premiums;
- write contractual conditions for new products;
- create internal standards and procedures;
- check implementation of suggested measures;
- negotiate budgets;
- elaborate technical opinion;
- check inspection object documentation;
- analyze contract;
- request documentation;
- attract new business and customers;
- prepare documentation and list of outstanding and paid claims;
- analyze inspection reports, medical reports and questionnaires;
- reason logically;
- act with empathy;
- demonstrate decision-making ability;
- photograph the object of the insurance;
- get internal product approval;
- demonstrate flexibility;
- submit proposals to the company's underwriting rules;
- determine insurance profitability;
- assist the development of the computer system;
- monitor portfolio results;
- settle a claim (payment to the beneficiary or the insured);
- show credibility;
- add documentation for bids;
- propose investigation;
- framing proposals to the company's reinsurance and coinsurance conditions;
- register claims;
- search legislation;
- act with empathy;
- identify exposure and physical and moral aggravation of risk;
- suggest insurable value;
- define inspection procedures;
- request advance recovery;
- promote product adjustments;
- photograph the insurance object;
- prepare technical claims report;
- compare competitors' products;
- implementing partnerships with brokers and other distribution channels;
- express yourself orally and in writing;
- give technical and commercial support to customers;
- provide insurance quote and conditions;
- evaluate damages and quotes;
- demonstrate a sense of observation;
- search competitor market;
- identify new market niches;
- calculate reinsurance premiums and recovery;
- concept the product;
- elaborate inspection and survey reports;
- act with patience;
- disclose products;
- frame proposals to the company's reinsurance and coinsurance conditions;
- schedule inspection;
- request medical reports and inspections;
- test fire safety equipment;
- send insurance renewal notices;
- analyze proposed conditions for the insurance;
- prepare documentation and list of assigned risks (map or bordero);
- survey customer needs;
- track product implementation;
- notify reinsurer and co-insurers of claims that have occurred;
Sectors that hire Insurance assistant underwriter the most in the job market
- insurance, pension plan and health brokers and agents
- non-life insurance
- other service activities provided mainly to companies
- health insurance
- temporary labor lease
- life insurance
- auxiliary activities of insurance, supplementary pensions and health plans
- electrical maintenance and repair services for motor vehicles
- business management consulting activities
- health plans
