Employers prefer to hire candidates who have a bachelor's degree. However, insurance-related work experience and strong computer skills may be enough. Certification is generally necessary for advancement to senior underwriter and underwriter manager positions.
Most firms prefer to hire applicants who have a bachelor's degree. Courses in business, finance, economics, and mathematics are particularly helpful.
Beginning underwriters usually work as trainees under the supervision of senior underwriters. Trainees work on basic applications and learn the most common risk factors. As they gain experience, they become responsible for more complex applications and work independently.
Licenses, Certifications, and Registrations
Employers often expect underwriters to become certified through coursework. 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 3 years of insurance experience, The Institutes offer the Chartered Property and Casualty Underwriter (CPCU) designation. For beginning underwriters, The Institutes offer a training program.
The Institutes also offer two special designations: Associate in Commercial Underwriting (AU) and Associate in Personal Insurance (API). To earn either the AU or API designation, underwriters complete a series of courses and exams that generally take 1 to 2 years.