A person working as a Insurance Underwriter in South Africa will on average earn $8029 per year (pre-tax value). Salary is provided in USD ($/dollar) value.
Below is a break-down of yearly, monthly, weekly and hourly rate.
| Rate Type | Amount (USD) |
|---|---|
| Yearly salary | $8,029.00 |
| Weekly salary | $154.40 |
| Daily salary | $22.00 |
| Hourly salary | $2.75 |
This means insurance underwriter salary is above average!
Job Industry: insurance
Description: An insurance underwriter is responsible for assessing and evaluating insurance applications to determine the level of risk involved and the appropriate premium to be charged. They analyze various factors such as the applicant's health, age, occupation, and lifestyle to calculate the likelihood of a claim being made. Underwriters use statistical models and actuarial data to make informed decisions and ensure that the insurance company remains profitable. They also review policy renewals, negotiate terms with brokers, and provide guidance on risk management strategies.
Tagged with: Insurance underwriter, Risk assessment, Premium calculation, Actuarial analysis, Policy renewal, Risk management.