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Insurance Underwriter

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AVG. SALARY

$73,510

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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

$73,510

Entry Annual Wage

$49,810

Experienced Annual Wage

$103,160

Average Hourly Wage

$35.34

Entry Hourly Wage

$23.95

Experienced Hourly Wage

$49.60

Median Hourly Wage

$32.06

North Dakota Regional Earnings

North Dakota Metropolitan Areas Wages

Region Average Entry Level Experienced
Bismarck MSA $63,200 or $30.38/hr $51,290 or $24.66/hr $76,370 or $36.71/hr
Fargo ND-MN MSA $77,830 or $37.42/hr $49,930 or $24.01/hr $124,070 or $59.65/hr

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

Outlook Decreasing
Growth rate is estimated to be -7%
Job Openings 12 estimated annual job openings
Employment 218 were employed in this occupation
Industries Large concentrations of this occupation are found in these industries
  • Insurance carriers (NAICS524100) (46.15%)
  • Agencies, brokerages, and other insurance related activities (NAICS524200) (26.44%)

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 11 -9%
Region 5 161 -9% -1 11 10
Region 7 25 -8% 2 2

National Earnings

Average Annual Wage

$85,610

Average Hourly Wage

$41.16

Average Annual Range

$48,480 to $132,010

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 2022 to 2032 is estimated to be -2%.
(The National average for all occupations is +3%)
Job Openings very small number
  Less than 1000 average annual openings are expected for this occupation between 2022 and 2032.
(The National Average for all occupations is 1,670 openings)
Employment small occupation
  This was a small occupation in the United States, employing 125,500 workers in 2022.
(The National average for all occupations is 147,916 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) (94.1%)
  • Insurance carriers and related activities (NAICS524000) (91%)
  • Insurance carriers (NAICS524100) (60.3%)
  • Direct insurance (except life, health, and medical) carriers (NAICS524120) (46.3%)
  • Agencies, brokerages, and other insurance related activities (NAICS524200) (30.7%)
  • Insurance agencies and brokerages (NAICS524210) (25.8%)