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Career and Education Opportunities for Insurance Underwriters in Scottsdale, Arizona

If you want to be an insurance underwriter, the Scottsdale, Arizona area offers many opportunities both for education and employment. About 1,500 people are currently employed as insurance underwriters in Arizona. By 2016, this is expected to grow 5% to 1,570 people employed. This is better than the nation as a whole, where employment opportunities for insurance underwriters are expected to shrink by about 4.1%. Insurance underwriters generally review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Insurance underwriters earn approximately $23 per hour or $48,330 yearly on average in Arizona. Nationally they average about $27 per hour or $56,790 per year. Incomes for insurance underwriters are not quite as good as in the overall category of Accounting and Auditing in Arizona, and better than the overall Accounting and Auditing category nationally. Insurance underwriters work in a variety of jobs, including: underwriter, underwriting service representative, and insurance analyst.

There are seventy-six schools of higher education in the Scottsdale area, including one within twenty-five miles of Scottsdale where you can get a degree to start your career as an insurance underwriter. Insurance underwriters usually hold a Bachelor's degree, so you can expect to spend about four years studying to be an insurance underwriter if you already have a high school diploma.

CAREER DESCRIPTION: Insurance Underwriter

Insurance Underwriter video from the State of New Jersey Dept. of Labor and Workforce Development

In general, insurance underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

Insurance underwriters decline excessive risks. They also write to field representatives and others to obtain further data or explain company underwriting policies. Equally important, insurance underwriters have to inspect company records to establish amount of insurance in force. They are often called upon to decrease value of policy when risk is substandard and specify applicable endorsements. Finally, insurance underwriters authorize reinsurance of policies when risks are high.

Every day, insurance underwriters are expected to be able to read and understand documents and reports. It is also important that they articulate ideas and problems.

It is important for insurance underwriters to evaluate possibility of losses due to catastrophe or excessive insurance. They are often called upon to examine documents to establish degree of risk from such factors as applicant financial standing and value and state of property. Somewhat less frequently, insurance underwriters are also expected to write to field representatives and others to obtain further data or explain company underwriting policies.

And finally, they sometimes have to decrease value of policy when risk is substandard and specify applicable endorsements.

Like many other jobs, insurance underwriters must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Scottsdale include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Insurance Underwriter Training

Phoenix College - Phoenix, AZ

Phoenix College, 1202 W Thomas Rd, Phoenix, AZ 85013. Phoenix College is a large college located in Phoenix, Arizona. It is a public school with primarily 2-year programs and has 10,917 students. Phoenix College has a less than one year and an associate's degree program in Insurance.

CERTIFICATIONS

Chartered Property Casualty Underwriter: More than 65,000 people have earned the CPCU professional designation.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Commerical Underwriting: Enhance your professional confidence by building a strong foundation in underwriting principles with the Institutes' Associate in Commercial Underwriting program.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Risk Management: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Premium Auditing: The Associate in Premium Auditing program provides a sold foundation in essential auditing, accounting, and insurance principles.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Insurance Services: The Associate in Insurance Services program is a nationally recognized educational program designed specifically for insurance personnel.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Risk Management for Public Entities: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Risk Management for Public Entities: Understand the unique nature of the public sector.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Certified Pension Consultant: The Certified Pension Consultant (CPC) credential is designed for benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning.

For more information, see the American Society of Pension Professionals and Actuaries website.

LOCATION INFORMATION: Scottsdale, Arizona

Scottsdale, Arizona
Scottsdale, Arizona photo by Flyer84

Scottsdale is located in Maricopa County, Arizona. It has a population of over 235,371, which has grown by 16.1% in the past ten years. The cost of living index in Scottsdale, 104, is above the national average. New single-family homes in Scottsdale are priced at $633,700 on average, which is far greater than the state average. In 2008, two hundred thirty-three new homes were constructed in Scottsdale, down from six hundred eighty-nine the previous year.

The three big industries for women in Scottsdale are health care, professional, scientific, and technical services, and educational services. For men, it is professional, scientific, and technical services, finance and insurance, and accommodation and food services. The average travel time to work is about 24 minutes. More than 44.1% of Scottsdale residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 14.7%, is higher than the state average.

The unemployment rate in Scottsdale is 6.4%, which is less than Arizona's average of 9.3%.

The percentage of Scottsdale residents that are affiliated with a religious congregation, 39.7%, is less than the national average but more than the state average. The most common religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.

Scottsdale is home to the Arabian Library and the McCormick Ranch Golf Course as well as Indian Bend Wash Greenbelt and McCormick Railroad Park. Shopping centers in the area include Los Arcos Mall, Park Scottsdale Shopping Center and Papago Plaza Shopping Center. Visitors to Scottsdale can choose from Hyatt Regency & Resorts - Hyatt Regency Scottsdale Resort, Doubletree Paradise Valley and Innsuites Hotel-Scottsdale for temporary stays in the area.