Similar careers
Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.
An Insurance Underwriter is a professional who evaluates and analyzes the risks involved in insuring people and assets. They determine the coverage terms and calculate premiums based on the likelihood of a claim being made.
Education: Bachelor's degree
Years in related career: None
On-the-job training: Moderate-term
Projected Growth: -2.4% (negative growth)
Annual job openings: 8 200
Direct AI exposure: 14% of tasks
Potential AI exposure: 86% of tasks
| Income data is from Employment and Social Development Canada's 2025 wage tables. The closest match for this career in Canada’s occupational classification system is Insurance Underwriters. According to the wage tables, average income is $72K per year. | ||||
|---|---|---|---|---|
| Bottom 10% | Bottom 25% | Median (average) | Top 25% | Top 10% |
| $52K per year | $62K per year | $72K per year | $85K per year | $107K per year |
| Compared to other careers: Median is $7.01K above the national average. | ||||
Insurance Underwriters typically work in office settings at insurance companies. They spend much of their time working on computers, analyzing data, and making decisions about insurance applications. Some underwriters may specialize in particular types of insurance and might need to travel to assess properties or meet with clients.
Insurance Underwriting is a critical function in the insurance industry, balancing the need to protect the insurance company's financial health with the need to provide fair coverage. Underwriters must analyze various risk factors and use their judgment and expertise to make decisions. They rely on software but also bring in their analytical skills to interpret data that the software cannot fully assess.
This role requires a good balance of analytical skills and intuition. Underwriters must be detail-oriented to accurately evaluate risks, yet also able to make decisions with sometimes incomplete information. They must keep up with changes in the insurance industry and regulatory environment.
Insurance Underwriters work closely with other professionals in insurance, such as agents, risk managers, and actuaries. Good communication skills are essential to explain their decisions and to negotiate terms with agents and brokers.
A bachelor's degree is commonly required for this role, typically in fields such as finance, economics, or business administration, which amounts to about 4 years of post-secondary education. Additional training and certification in underwriting can be advantageous.
Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.
