Please upgrade your web browser

These pages are built with modern web browsers in mind, and are not optimized for Internet Explorer 8 or below. Please try using another web browser, such as Internet Explorer 9, Internet Explorer 10, Internet Explorer 11, Google Chrome, Mozilla Firefox, or Apple Safari.

I am in my final year of undergraduate study and looking to become an insurance underwriter

Veteran

christopher graffagnino Staten Island, NY

I currently work as a consultant for a fortune 100 insurance company. I am in my final year of undergraduate study for my Bachelor's in Economics. I have been looking to get into finance but I am also considering trying to get a position in underwriting (casualty and property). I do a lot of analysis now with my current job and do a lot of research and risk assessments for underwriters, but I would like to work directly for an underwriter until I finish school, and can license to become an underwriter myself. Any suggestions from anyone in insurance? It is extremely hard to network into a position as a regular employee with my company, as it is very clickish and competitive. Underwriters make a good salary and do a lot of research and analysis, that I have been doing for almost 2 years. I am also open to suggestions for becoming an actuary. Thank you in advance for the assistance.

7 December 2012 5 replies Career Exploration

Answers

Advisor

Greg Joiner Boston, MA

Hi Christopher,

I work for Liberty Mutual Insurance and although I am not an Underwriter, I know that the company is actively recruiting candidates for this role and has a substantive and cohesive Underwriting development program for new employees.

I encourage you to visit Liberty's internet home page: http://www.libertymutual.com/ to learn more about the company as well as our Careers web site: http://www.libertymutualgroup.com/insurance-careers. I'll also pass your note on to our recruiting team!

I hope this helps and wish you the best of luck in securing a position.

Greg

7 December 2012 Helpful answer

Veteran

Zona Schroeter Dunedin, FL

Chris,

I am a head-hunter for the insurance industry with over 16 years experience on a global basis, there is no position I have not filled, for the last 14 years my focus has being on the actuarial profession. My advice to you is this

The insurance industry is predicted to grow by 26% until 2015, the actuarial consulting field is expected to grow by over 50%, the job outlook growth for the actuarial profession for the next 10 years is 26.7%

Underwriter
As you have decided you wish to enter in the Property & Casualty arena also look at the product class you wish to have exposure too: Liability, Auto, Homeowners, Marine, Aviation etc

Once you have decided on the above, then research insurance carriers that specialise in the field you wish to enter, and approach them directly

I would also suggest looking into obtaining professional insurance examinations by obtaining these should make you stand out from the crowd when you apply.

Actuary
Being an actuary has being voted one of the best profession to enter since 1995. The demand for actuaries around the world is increasing and will continue to do so as the fields where these individual skills set can applied is expanding.

If this is the profession you decide to enter my advice would be to contact the SOA (Society of Actuaries) or the CAS (Casualty Actuarial Society) and start your professional examinations as soon as possible. Entry level roles are very competitive but if you are persistent you will obtain a role.

Good luck

Advisor

Dana Shields Roswell, GA

New York's a good place to be if you're interested in risk. Try www.starrcompanies.com (of Hank Greenberg fame).

You're on the right track with actuarial studies. What's big now? Predictive Analytics. Automated decisioning, big data, reinsurance, excess insurance, global interconnectedness.

All of it involving assessing risk without guessing so that your competitor gets the residual (based on their outmoded hunches), you get the good risks based on facts, and your customer gets the price and service they like that unwaveringly supports them in their endeavors.

Data is king. And actuaries have never had at their fingertips such a trove of deep and wide data from which to particularize decisions.

Interesting article on making sense of data:

http://blog.aon-esolutions.com/blog/bid/277528/one-way-to-understand-big-data-in-the-context-of-risk-management?source=Blog_Email_%5bOne%20way%20to%20understan&goback=%2Egde_4270997_member_239589190

Veteran

Lindsay Brewer Milwaukee, WI

I thought with ObamaCare coming into effect that role in insurance companies were starting to be filtered elsewhere, I know it is at my mom's insurance company. I think it will still exist but not as abundant as it is now or previously has been.

Veteran

christopher graffagnino Staten Island, NY

Thank you very much! I will look into it!

Your Answer

Please log in to answer this question.

Sign Up

You can join as either a Veteran or an Advisor.

An Advisor already has a career, with or without military experience, and is willing to engage with and help veterans.
Sign Up as an Advisor.

A Veteran has military experience and is seeking a new career, or assistance with life after service.
Sign Up as a Veteran.