Employment of insurance underwriters is projected to decline 11 percent from 2014 to 2024. Automated underwriting software allows workers to process applications more quickly than before, reducing the need for underwriters. As this technology improves, more underwriting decisions can be made automatically. However, there still will be a need for underwriters to evaluate automated recommendations, particularly in complex or specific fields, such as marine insurance.
Job Prospects
Job opportunities should be best for those with a background in finance and strong computer and analytical skills.
Insurance Underwriters
Percent change in employment, projected 2014-24
Financial specialists
10%
Total, all occupations
7%
Insurance underwriters
-11%
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Employment Projections program