Employment of Underwriters is expected to increase at a rate slower than the average for all occupations through the year 2005. More than half of all job openings are expected to result from the need to replace Underwriters who transfer to other occupations or stop working altogether. Insurance companies typically fill openings for Underwriters by hiring trainees. Company representatives go to college campuses to select qualified college graduates. They report that there usually are far more applicants than trainee positions available.
Employers are very selective, and there is a good deal of competition for available jobs.
Fringe benefits include paid vacations, holidays and sick leave, group life and health insurance, retirement programs, and sometimes profit sharing plans. Although Underwriters deal primarily with facts and figures, they must also be able to communicate effectively, both orally and in writing, and must get along well with others. Employers usually expect trainees to have a bachelor's degree, preferably in business administration or with emphasis on business subjects. Recommended courses include economics, accounting, statistics, commercial law, and insurance principles. Some employers start all trainees in support positions so they can learn each function thoroughly prior to being placed on the job doing actual underwriting work.