Insurance underwriters
Insurance underwriters review and evaluate insurance applications to determine insurance risks, insurance premiums and extent of insurance coverage according to company policies.
Good
Market Demand
TEER 2
Skill Level
NB, NS, SK
Top Provinces
What They Do
- 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, extent 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 inquiries from clients and from insurance agents, consultants and other company personnel
- Prepare underwriting reports and update insurance forms when necessary.
Qualifications
- checkCompletion of secondary school and some general insurance experience ora bachelor's degree, college diploma or some post-secondary education is required.
- checkSeveral years of on-the-job training and completion of insurance industry underwriting courses and training programs are required.
Market Outlook by Province
New Brunswick
The employment outlook will be Good for insurance underwriters (NOC 12202) in New Brunswick for the 2025-2027 period.The following factors contributed to this outlook:Employment growth will lead to several new positions.Not many positions will become available due to retirements.There are a small number of unemployed workers with recent experience in this occupation.Here are some key facts about insurance underwriters in New Brunswick: Approximately 600 people work in this occupation. Insurance underwriters mainly work in the following sectors: Insurance Carriers and related activities (NAICS 524, 526): more than 95% 77% of insurance underwriters work all year, while 23% work only part of the year, compared to 62% and 38% respectively among all occupations. Those who worked only part of the year did so for an average of 46 weeks compared to 42 weeks for all occupations.The gender distribution of people in this occupation is: Men: 20% compared to 52% for all occupations Women: 80% compared to 48% for all occupations The educational attainment of workers in this occupation is: no high school diploma: less than 5% compared to 11% for all occupations high school diploma or equivalent: 15% compared to 30% for all occupations apprenticeship or trades certificate or diploma: less than 5% compared to 12% for all occupations college certificate or diploma or university certificate below bachelor's: 40% compared to 23% for all occupations bachelor's degree: 31% compared to 16% for all occupations university certificate, degree or diploma above bachelor level: 7% compared to 7% for all occupations
Good
Outlook
Nova Scotia
The employment outlook will be Moderate for insurance underwriters (NOC 12202) in Nova Scotia for the 2025-2027 period.The following factors contributed to this outlook:Employment growth will lead to a moderate number of new positions.Not many positions will become available due to retirements.There are a small number of unemployed workers with recent experience in this occupation.Here are some key facts about insurance underwriters in Nova Scotia: Approximately 700 people work in this occupation. Insurance underwriters mainly work in the following sectors: Insurance Carriers and related activities (NAICS 524, 526): more than 95% 87% of insurance underwriters work all year, while 13% work only part of the year, compared to 62% and 38% respectively among all occupations. Those who worked only part of the year did so for an average of 49 weeks compared to 42 weeks for all occupations.The gender distribution of people in this occupation is: Men: 30% compared to 51% for all occupations Women: 70% compared to 49% for all occupations The educational attainment of workers in this occupation is: no high school diploma: less than 5% compared to 10% for all occupations high school diploma or equivalent: 21% compared to 27% for all occupations apprenticeship or trades certificate or diploma: 6% compared to 12% for all occupations college certificate or diploma or university certificate below bachelor's: 24% compared to 22% for all occupations bachelor's degree: 45% compared to 20% for all occupations university certificate, degree or diploma above bachelor level: less than 5% compared to 10% for all occupations
Moderate
Outlook
Saskatchewan
The employment outlook will be Moderate for insurance underwriters (NOC 12202) in Saskatchewan for the 2025-2027 period.The following factors contributed to this outlook:Employment growth will lead to a moderate number of new positions.Not many positions will become available due to retirements.There are a small number of unemployed workers with recent experience in this occupation.Here are some key facts about insurance underwriters in Saskatchewan: Approximately 350 people worked in this occupation in May 2021. Insurance underwriters mainly work in the following sectors: Insurance Carriers and related activities (NAICS 524, 526): more than 95% 91% of insurance underwriters work all year, while 9% work only part of the year, compared to 65% and 35% respectively among all occupations. Those who worked only part of the year did so for an average of 50 weeks compared to 43 weeks for all occupations.The gender distribution of people in this occupation is: Men: 25% compared to 53% for all occupations Women: 75% compared to 47% for all occupations The educational attainment of workers in this occupation is: no high school diploma: less than 5% compared to 11% for all occupations high school diploma or equivalent: 33% compared to 33% for all occupations apprenticeship or trades certificate or diploma: 8% compared to 15% for all occupations college certificate or diploma or university certificate below bachelor's: 24% compared to 17% for all occupations bachelor's degree: 28% compared to 18% for all occupations university certificate, degree or diploma above bachelor level: 5% compared to 7% for all occupations
Moderate
Outlook
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Immigration Pathways
TEER 2 occupations require college education or apprenticeship training and qualify for Express Entry under the Federal Skilled Worker Program.
Express Entry (FSW)
Canadian Experience Class
Provincial Nominee Programs
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Top Companies Hiring
Organizations with the most NOC 12202 openings right now.
Westlandcorp
5 active roles · Surrey, BC
Definity
5 active roles · Montreal, QC · Toronto, ON
Liberty Mutual Canada
5 active roles · Calgary, AB · Toronto, ON
Munich Re
4 active roles · Toronto, ON
Acera Insurance
4 active roles · Calgary, AB · Fort McMurray, AB
Zurich Insurance Group
4 active roles · Calgary, AB · Montreal, QC
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Recent Job Postings
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Search Insurance underwritersarrow_forwardCore Competencies
Evaluation and Systems Analysis
to ensure the processes are reliable and the underwriting processes adhere to company policies and regulatory requirements
Critical Thinking and Decision Making
to evaluate these scenarios from various angles, weigh evidence and make well-informed decisions about coverage and premiums
Problem Identification and Inductive Reasoning
to evaluate new and renewal insurance applications to determine risks, premiums, coverage and other conditions of insurance contracts
Mathematical Reasoning and Numerical Ability
to evaluate numerical data such as statistics, probability and historical trends to assess the likelihood of potential claims
Attention to Detail
to meticulously review applications and related documents to accurately assess the risk associated with insuring a particular individual or entity
Knowledge in Finance
to understand financial principles insuring an individual or entity and setting premiums that reflect that risk while ensuring profitability for the insurer
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