I have been in the commercial insurance field as a Agent for over 3 years. I make good money and enjoy what I do, but my interest are with the company side.
What is the best place to start to obtain a position as a Commercial Lines Underwriter? I just started the ARM course, is this something Insurance Companies look for??
I am looking at TX, MN, MI, AZ and LA as potential places to which I can relocate. What kind of starting salary can I expect or is Reasonable to ask a potential employer.
thank you,
Mike
Adivice needed on a Career Change
Moderators: Josh, independent guy
The Associate in Underwriting (AU) designation would be a good designation to pursue.
Most company underwriters will specialize in a given area - Property, Inland/Ocean Marine, Casualty, etc. Depending upon which line(s) you want to pursue, you'll need to demonstrate a knowledge of what information is needed to underwrite that line of coverage.
Common sense plays a big part, as do good math skills (a good knowledge of Excel will help).
Starting salary will depend upon the area. Check Salary.com to get an idea of what you should expect.
Most company underwriters will specialize in a given area - Property, Inland/Ocean Marine, Casualty, etc. Depending upon which line(s) you want to pursue, you'll need to demonstrate a knowledge of what information is needed to underwrite that line of coverage.
Common sense plays a big part, as do good math skills (a good knowledge of Excel will help).
Starting salary will depend upon the area. Check Salary.com to get an idea of what you should expect.
You say you enjoy the commercial end but would rather be on the company side??? Having worked both sides through the years I wonder why anyone would want to be on the company side... corporate meetings, goals, deadlines etc and more importantly, your income is basically limited where as an agent... the sky is the limit on your income potential. New buisness, renewals etc etc.
Again, nothing against company people in any way, they are hard working knowledgable people but speaking as an agent who is straight commissions...well, I may not know what each check is going to be but I know that they can always grow more than a token % each year.
Good luck to you.
Again, nothing against company people in any way, they are hard working knowledgable people but speaking as an agent who is straight commissions...well, I may not know what each check is going to be but I know that they can always grow more than a token % each year.
Good luck to you.
salary
Salary is not an issue. Granted I would like to be paid an amount on which I can raise a family(when I have one). I do not mind starting at the bottom as long as I have an opportunity to grow.
Should I go to the wholesale/mga side first and then company side or can I expect a company to be interested in a Retail Agent for an underwriting position? Are their any good recruiters out there that can assist me?
Should I go to the wholesale/mga side first and then company side or can I expect a company to be interested in a Retail Agent for an underwriting position? Are their any good recruiters out there that can assist me?
With only 3 years of experience in insurance, I think you are unlikely to be hired as an underwriter for an insurer. I would definitely try an MGA first, and Big Dog is right -- start with AU. Or, even try CIC or CPCU. I'm in Arizona, and there is not much call for an ARM here unless you are a consultant.
As for salary, with a small amount of experience, I think you are looking at 45K max.
As for salary, with a small amount of experience, I think you are looking at 45K max.
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LadyBroker
- Insurance Journal Addict
- Posts: 366
- Joined: Fri Oct 13, 2006 9:10 pm
- Location: Southern California
Career change
Yes, you should meet with a recruiter who can help you polish and shape your experience and resume to highlight your best qualities, and present yourself in the best light to a carrier.
I would recommend South Bay Search...949 713 6900.
Good luck.
I would recommend South Bay Search...949 713 6900.
Good luck.
"It's a typical day, on the road to Utopia.."
Career Change
Sundance, after 9 years on the agency side and now 5 years with a carrier I can say I'll never willingly go back to the agency side. I'm glad you like it but I can't imagine my income going down by 20% or whatever the soft market brings on renewals. My agents are complaining about having to work much harder for less money while the insureds revel in lower premiums.
Two sides to every coin, I guess.
You are right about the meetings, goals, etc but they are an evil I'll put up with in exchange for the security.
Mike, I had the AU in hand when I came to the company side in 1992. I went through my company's underwriting training program and things have been going great. Steady income, good bonuses, have moved into some specialty underwriting from small commercial business.
I would guess $45-$50k depending on what part of the country you end up in.
It's a good time to get into underwriting, a lot of folks are retiring from the industry in the next 5 years.
Good luck!
Two sides to every coin, I guess.
You are right about the meetings, goals, etc but they are an evil I'll put up with in exchange for the security.
Mike, I had the AU in hand when I came to the company side in 1992. I went through my company's underwriting training program and things have been going great. Steady income, good bonuses, have moved into some specialty underwriting from small commercial business.
I would guess $45-$50k depending on what part of the country you end up in.
It's a good time to get into underwriting, a lot of folks are retiring from the industry in the next 5 years.
Good luck!
Just registered at AAI. before I order books does anyone have the material for the AU courses? Text, study aids, CD's...etc.
I have received interest from some MGA's and Wholesaler's but not from the company side. I guess they all want someone with some Underwriting experience. I would love to get into a company training program but the ones I seen all look for recent college grads? Its been a little over 5 years since I graduated so I doubt that I meet that requirement.
thanks
I have received interest from some MGA's and Wholesaler's but not from the company side. I guess they all want someone with some Underwriting experience. I would love to get into a company training program but the ones I seen all look for recent college grads? Its been a little over 5 years since I graduated so I doubt that I meet that requirement.
thanks
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LadyBroker
- Insurance Journal Addict
- Posts: 366
- Joined: Fri Oct 13, 2006 9:10 pm
- Location: Southern California
Career change
I wouldn't discount the possibility of you getting into a company's training program. The reason they look for recent college graduates is that the salary is not very high in the first 2 years. They assume, and probably rightly so, that anyone who has been working in a carrer for 4 or 5 years can't take a pay cut to start over again.
HOWEVER, that doesn't mean you should not apply. Treat your job search like you would treat searching for new clients...turn over every rock and stone in the field of your choice, and be aggressive. The fact that you have held a job, steadily, and have a college degree could also make you more valuable to a company that could be looking to invest alot of time and money into training you. After all, you have a proven job history, while Mr 'I just graduated college and sobered up from the AXA party last week' may be willing to work for less money, but you get what you pay for....
Good luck.
HOWEVER, that doesn't mean you should not apply. Treat your job search like you would treat searching for new clients...turn over every rock and stone in the field of your choice, and be aggressive. The fact that you have held a job, steadily, and have a college degree could also make you more valuable to a company that could be looking to invest alot of time and money into training you. After all, you have a proven job history, while Mr 'I just graduated college and sobered up from the AXA party last week' may be willing to work for less money, but you get what you pay for....
Good luck.
"It's a typical day, on the road to Utopia.."
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mccluney
- Insurance Journal Addict
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Career Change
Best advice is to talk to agency recruiter that specializes in insurance placements. My experience indicates that most insurance companies would
rather hire less experienced persons rather than those with alot of "book training" Afer the hire, then get the advanced book training. It would not hurt to talk with the HR dept's of larger companies and ask what sources they use for hiring and what characteristics they are looking for when they do hire.
In making career choices, most young people, do not consider enough the benefit packages offered. Nor do they max out thier portion of the retirement plans offered.
On the company side there will be a great need for experienced underwriters. Afer some job experience with a comany, its far eaiser
to make lateral/promotional tranfers. Companies prefer to hire from other companies not from agencies.
rather hire less experienced persons rather than those with alot of "book training" Afer the hire, then get the advanced book training. It would not hurt to talk with the HR dept's of larger companies and ask what sources they use for hiring and what characteristics they are looking for when they do hire.
In making career choices, most young people, do not consider enough the benefit packages offered. Nor do they max out thier portion of the retirement plans offered.
On the company side there will be a great need for experienced underwriters. Afer some job experience with a comany, its far eaiser
to make lateral/promotional tranfers. Companies prefer to hire from other companies not from agencies.
websites
I just started with the usual, monster and hotjobs. If there are specific ones used by insurance companies please let me know.
I have pretty much decided that I really would like to be working for a company that encourages education/training and be family friendly. The one thing I hate to do is use a company as a stepping stone. I am kind of old school in my work ethic. If it is my decision I would not change companies if I have the choice of advancement, training, and the company has family friendly policies.
I have pretty much decided that I really would like to be working for a company that encourages education/training and be family friendly. The one thing I hate to do is use a company as a stepping stone. I am kind of old school in my work ethic. If it is my decision I would not change companies if I have the choice of advancement, training, and the company has family friendly policies.
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hdorland
- Insurance Journal Fan
- Posts: 3
- Joined: Tue Jun 19, 2007 3:26 pm
- Location: located in Texas but almost all business is on West Coast
your question
Mike -
Please send me your resume.
I have a family friendly carrier in Southern California that may have interest in you.
Thanks,
Harvey Dorland
Pacific Recruiting
936-597-6500
hdorland@ez2.net
Please send me your resume.
I have a family friendly carrier in Southern California that may have interest in you.
Thanks,
Harvey Dorland
Pacific Recruiting
936-597-6500
hdorland@ez2.net
How does one deal with the transition from agency to company underwriting from a standpoint of, well frankly, at an agency you can have the attitude of, "we'll get it done somewhere", and at a company you just have to say no for the smallest of reasons. I personally often think companies are declining things that should simply be debited rather than being forced into surplus lines....