man in professional attire inspecting a damaged car while crouched down next to it writing on a clipboard

Insurance underwriters

(NOC 12202)
High opportunity occupation High opportunity occupation
Annual Earnings
$78,210
Training, Education, Experience and Responsibilities
College Diploma or Apprenticeship, 2 or more years
Job Openings
(2024-2034)
680

Career Overview

Insurance underwriters:

  • Review and evaluate insurance applications to determine insurance risks, insurance premiums and extent of insurance coverage according to company policies
  • Work at head and branch offices of insurance companies

Job Titles

Group underwriter
Insurance underwriter
Liability underwriter
Property underwriter

Duties

Insurance underwriters:

  • Review individual and group applications for automobile, fire, health, liability, life, property, marine, aircraft and other insurance
  • Evaluate new and renewal applications to determine insurance risks, insurance premiums, level of insurance coverage and other conditions of the insurance contract using medical reports, rate tables and other documents and reference materials
  • Adjust premiums, coverage or risk itself to make acceptance of new and renewal applications possible
  • Approve sale of insurance policies and ensure compliance with government regulations
  • Provide recommendations on individual or group insurance plan designs
  • Provide underwriting advice and answer questions from clients and from insurance agents, consultants and other company personnel
  • Prepare underwriting reports and update insurance forms when necessary

Earnings

Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.

Annual Earnings

$78,210

Provincial Hourly Rate

High$62.50/hr
Median$37.50/hr
Low$29.81/hr
Source: B.C. Labour Market Information Office, derived from 2024 Job Bank Wage data

Work Environment

# Workers Employed

1,720

% Employed Full Time

83%
Source: 2021 Census

Work in this occupation is typically performed in a structured environment, such as an office.

Career Pathways

Promotion to management positions, such as underwriter manager, is possible with experience.

Completion of educational programs through the Insurance Institute of Canada or its provincial counterparts entitles insurance underwriters to professional recognition as an Associate of the Insurance Institute of Canada (A.I.I.C.) and with additional university courses, as a Fellow of the Insurance Institute of Canada (F.I.I.C.).

Occupational Interests

It’s important to understand what kinds of occupations align with your interests.

For more about occupational interests visit Skills for the Future Workforce > Characteristics.

Here are the top occupational interest(s) for this career profile:

Conventional
Conventional

Education, Training and Skills

  • Completion of secondary school and some general insurance experience or a bachelor's degree, college diploma or some post-secondary education is required.
  • Several years of on-the-job training and completion of insurance industry underwriting courses and training programs are required.

Education programs in B.C.

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Find out more information about programs offered specifically for this career.

Skills

Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.

Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.

See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!

Active Listening

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

68%
Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

68%
Reading Comprehension

Understanding written sentences and paragraphs in work-related documents.

68%

Labour Market Statistics

Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.

Employment

Find out about employment types and trends by region and industry.

Employment

1,720
Source: 2021 Census

Employment by Region

Cariboo
Kootenay
Mainland/Southwest
North Coast and Nechako
Northeast
Thompson-Okanagan
Vancouver Island/Coast
Region Employment % Employment of this Occupation
Cariboo 10 0.6%
Kootenay 0 0.0%
Mainland/Southwest 1,425 82.8%
North Coast and Nechako 0 0.0%
Northeast 0 0.0%
Thompson-Okanagan 105 6.1%
Vancouver Island/Coast 175 10.2%
Source: 2021 Census

Labour Market Outlook

The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.

Forecasted Job Openings (2024-2034)

680
Source: B.C. Labour Market Outlook

Forecasted Job Openings

Forecasted Employment Growth Rate

Composition of Job Openings

Source: B.C. Labour Market Outlook

Job Openings by Region (2024-2034)

Cariboo
Kootenay
Mainland/Southwest
North Coast and Nechako
Northeast
Thompson-Okanagan
Vancouver Island/Coast
Region Job Openings Avg. Annual Employment Growth
Cariboo Not available Not available
Kootenay Not available Not available
Mainland/Southwest 560 1.6%
North Coast and Nechako Not available Not available
Northeast Not available Not available
Thompson-Okanagan 60 1.4%
Vancouver Island/Coast 70 1.0%
Source: B.C. Labour Market Outlook

Industry Highlights

Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.

Forecasted Job Openings by Industry

IndustryJob Openings (2024-2034)
Finance, Insurance and Real Estate680
For additional industry information, visit the Industry Profiles page.
Source: B.C. Labour Market Outlook

Resources

Resource information is currently not available.