Insurance Underwriter

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AVG. SALARY

$72,610

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Decreasing

Money & Outlook

:

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North Dakota Earnings

Average Annual Wage

$72,610

Entry Annual Wage

$52,830

Experienced Annual Wage

$98,040

Average Hourly Wage

$34.91

Entry Hourly Wage

$25.40

Experienced Hourly Wage

$47.14

Median Hourly Wage

$32.54

North Dakota Regional Earnings

North Dakota Metropolitan Areas Wages

Region Average Entry Level Experienced
Bismarck MSA $69,020 or $33.19/hr $53,260 or $25.60/hr $98,040 or $47.14/hr
Fargo ND-MN MSA $74,170 or $35.66/hr $52,780 or $25.38/hr $97,240 or $46.75/hr

North Dakota's Employment and Outlook (State-wide)

Outlook Decreasing
Growth rate is estimated to be -9%
Job Openings 10 estimated annual job openings
Employment 173 were employed in this occupation

North Dakota's Regional Employment and Outlook

Regions with decreasing outlook (negative growth rate expected)

Region Employment Projected Growth Rate Annual Openings (growth) Annual Openings (replacement) Annual Openings
Region 2 15 -20% 1 1
Region 5 100 -9% -1 7 6
Region 7 39 -10% 3 3

National Earnings

Average Annual Wage

$90,830

Average Hourly Wage

$43.67

Average Annual Range

$51,640 to $138,020

Note: variations in salaries reflect differences in size of firm, location, level of education and professional credentials.

Where do these numbers come from?


National Employment and Outlook

Outlook decreasing
  The employment change from 2023 to 2033 is estimated to be -4%.
(The National average for all occupations is +4%)
Job Openings very small number
  Less than 1000 average annual openings are expected for this occupation between 2023 and 2033.
(The National Average for all occupations is 1,724 openings)
Employment small occupation
  This was a small occupation in the United States, employing 118,400 workers in 2023.
(The National average for all occupations is 150,944 workers)
Growth Declining growth
  Automated underwriting software allows workers to process applications more quickly than before, reducing the need for as many underwriters. As this technology improves and becomes more widely adopted in the insurance industry, more underwriting decisions will likely be made automatically. However, there still will be a need for underwriters to review and update the criteria that run the automation. In addition, their analytical insight will be needed in specific fields, such as workers’ compensation, marine insurance, and health insurance. 
Industries Large concentrations of this occupation are found in these industries
  • Finance and insurance (NAICS520000) (95.1%)
  • Insurance carriers and related activities (NAICS524000) (93.1%)
  • Insurance carriers (NAICS524100) (61.2%)
  • Direct insurance (except life, health, and medical) carriers (NAICS524120) (47.6%)
  • Agencies, brokerages, and other insurance related activities (NAICS524200) (31.9%)
  • Insurance agencies and brokerages (NAICS524210) (27.1%)