Associate underwriters use statistics and mathematical models to determine the premiums and values of insurance policies. Read about degree and certificate programs that can prepare you for this job, such as risk management programs. Learn about other training options for associate underwriters, and get additional info on their job duties. Schools offering Accounting & Finance degrees can also be found in these popular choices.
What You Need to Know
What Does an Underwriter Do?
These professionals can specialize in health, mortgage, property or life insurance. In this role, you use your knowledge of finance, statistics and risk assessment to determine if a person or company is a viable credit risk. You then use statistical tools to determine the applicants' premium as well as the value of the policy. Insurance companies prefer someone with a bachelor's degree for this entry-level position, according to the U.S. Bureau of Labor Statistics as of 2012 (www.bls.gov ).
What Kind of Degree Would Prepare Me for this Position?
Business schools commonly host undergraduate programs in insurance and risk management. You take courses in statistics, finance and information systems. You may have the
opportunity to study the relationship between insurance and employee benefits. Master's degree programs in insurance and risk management are also available and prepare candidates for advanced or leadership roles.
What Certificate Options Do I Have?
You can find certificate programs focusing on risk management and insurance. Introductory courses cover financial management, risk management, statistical methods and banking. An array of insurance courses may discuss various types as well as pertinent technologies. These programs may provide information necessary to pass the exams provided by the Insurance Institute of America.
What Other Kinds of Training Opportunities Exist?
The Insurance Institute of America offers an introductory training course for beginning underwriters. In addition, you can study to become certified as an Associate in Commercial Underwriting (AU) or a Chartered Property Casualty Underwriter (CPCU). The programs provide self-study materials for the exam. You can complete the AU program over a period of months and expect to complete the comprehensive CPCU certification program in years.
To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below: