Launch League

Finance & accounting · Analyzing & Problem-solving

Insurance underwriter: what the job actually is

Deciding which risks an insurer will take on and at what price, using information that is never quite complete.

Published Last reviewed How we research and correct this

Insurance underwriter: quick facts

Insurance underwriter salary in Ontario: the median pay is $33.65 an hour, according to Job Bank (reference period 2023-2024). Its three-year outlook in Ontario is moderate. The job usually needs a college diploma, or an apprenticeship of two or more years.

Median pay in Ontario
$33.65 an hour
Pay range (low to high)
$24.73 to $48.35 an hour
Job outlook, 2025-2027
Moderate
People working in it in Ontario
11,100
Usually needs
Usually a college diploma, or an apprenticeship of two or more years

Source: Job Bank wages (updated 19 November 2025) and job prospects (updated 10 December 2025), NOC 12202. Pay varies by region and experience.

The work

What this job actually is

  • Reading applications for insurance, deciding whether the insurer should cover the person or business, and setting the terms and the price. You are judging risk before anything has gone wrong.
  • Job Bank says that almost all insurance underwriters are employed in finance and insurance, at insurance carriers, agencies and brokerage houses.
  • Job Bank says the occupation is not regulated in Canada, so certification is voluntary. It says completion of secondary school and some general insurance experience, or a bachelor's degree, college diploma or some post-secondary education, is required.
  • Job Bank also says several years of on-the-job training and completion of insurance industry underwriting courses and training programs are required. Learning is a long part of the job.
  • Underwriters are different from adjusters, who deal with claims after a loss, and from agents and brokers, who sell the policies. An underwriter is closer to the numbers and the rules.
  • Job Bank's Ontario outlook says employment growth will lead to several new positions, with not many positions from retirements. Read the rating on this page.

A Tuesday

What a normal day looks like

Not a good day or a bad one. The ordinary version, which is what you would actually be living.

  1. 8:30 — Open the queue of applications. A farm, a small restaurant, a house with a woodstove and a fleet of delivery vans.
  2. 9:00 — Read the first one properly. The broker's summary says one thing and the attached survey says another.
  3. 10:00 — Phone the broker and ask what they know that the form does not say.
  4. 11:00 — Check your guidelines. The risk is outside your authority, so you write up a case for a senior underwriter.
  5. 12:00 — Lunch.
  6. 13:00 — Price a renewal. The claims history is bad, and you must decide whether to raise the premium, change the terms or decline.
  7. 14:30 — A broker is unhappy with a decline and wants you to reconsider. You explain your reasoning and what would change it.
  8. 15:30 — Training module on a type of risk you have not underwritten before.
  9. 16:30 — Record your decisions and your reasons, because someone will ask later.

Honestly

Who loves this, and who should not do it

The second list is the useful one. Nearly every careers page leaves it out, which is why nearly every careers page reads like an advert.

You may like this if
  • You like reading and weighing evidence, and deciding with incomplete information.
  • You can say no clearly and explain why, without being unfriendly.
  • You are comfortable with numbers, and with rules that you must apply consistently.
  • You like learning for a long time on the job, and building up through courses.
You may hate this if
  • You do not like judging people's risk. Some of your decisions will mean a person or business is turned down or pays more.
  • You hate long training. Job Bank says several years of on-the-job training and courses are required.
  • You want fast feedback. You make a decision now and learn whether it was good only when claims arrive later.
  • You dislike pressure from sellers. Brokers and agents want business approved, and you need to hold your line.
  • You prefer talking to people all day. Much of the work is reading, analysis and writing, at a desk.

The route in

How you actually get there in Ontario

  1. Finish high school, and add general insurance experience or post-secondary study

    Job Bank says completion of secondary school and some general insurance experience, or a bachelor's degree, college diploma or some post-secondary education, is required. Business, commerce and economics courses help.

  2. Start in an insurance office

    Many people begin in underwriting support, customer service, claims or a brokerage and move into underwriting. Look for insurance carriers, agencies and brokerages, which Job Bank says employ almost all underwriters.

  3. Do the courses while you work

    Job Bank says completion of insurance industry underwriting courses and training programs is required. The Insurance Institute of Canada says the Chartered Insurance Professional designation takes ten courses, each ending in a national exam, plus at least one year of full-time employment in general insurance, life insurance or a related financial services industry, as well as ten short workplace-skills modules.

  4. Build authority over time

    Job Bank says several years of on-the-job training are required. Over that time you are given larger or more complex risks to decide. Ask any employer how decisions are reviewed and how you move up.

Where this comes from: Job Bank — Insurance underwriters (NOC 12202), requirements · Insurance Institute of Canada — About the CIP Program

The money

Insurance underwriter salary in Ontario

Job Bank's own figures, quoted rather than summarised, with the period they describe — so you can tell how old they are and go and check them.

$24.73
Low (hourly)
$33.65
Median (hourly)
$48.35
High (hourly)

Ontario, NOC 12202. Reference period 2023-2024, last updated by Job Bank on 19 November 2025. Wages vary a lot by region inside Ontario and by how long you have been doing it — the low figure is roughly where you start, not what the job is worth.

Source: Job Bank — Insurance underwriter wages in Ontario

Where it is heading

The outlook for the next three years

Job Bank publishes a three-year outlook for every job in every province. It is the closest thing to an honest forecast, and it moves, so read it as a weather report rather than a verdict.

Ontario, 2025-2027

Moderate3 out of 5 stars

  • 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.

What that rating means: how many openings Job Bank expects in Ontario for this kind of work against how many people are likely to be looking — not whether it is a good job. A “limited” rating means more competition for each opening; it does not close the door, and it can change before you are ready to walk through it.

What is changing in this work

  • Growth in the population and in the number of residences should support insurance business activities
  • Climate change, resulting in incidences of severe weather conditions and property damage
  • Increase in motor vehicle registrations

Who hires for it

  • Almost all insurance underwriters are employed in the finance and insurance sector, working at insurance carriers, agencies, and brokerage houses
11,100
people work in this job in Ontario
67%
are women (48% across all jobs)
5%
are self-employed (15% across all jobs)

Source: Job Bank — Insurance underwriters job prospects in Ontario (NOC 12202). Outlook updated by Job Bank on 10 December 2025; read by us on 5 October 2026.

Before you leave school

Things you can do now

  • Take maths, business and economics courses, and statistics if your school offers it.
  • Read news about floods, fires and storms with an underwriter's eye: what would make one house or farm riskier than another?
  • Ask a family member or neighbour who works in insurance, at an agency or brokerage, whether they would talk to you for ten minutes.
  • Look at Ontario college and university programmes in business, finance and insurance and note the entry courses.

Test it

Do this before you decide anything

Reading about a job tells you almost nothing. This is designed to be done alone, this week, for free.

Underwrite three imaginary houses and defend your decisions

About 60 minutes
  1. Invent three houses on a street: write a short description of each with age, heating type, whether anyone has had a claim, and distance from a fire station. Keep them simple.
  2. For each, decide: accept, accept with a higher price, or decline. Write the reason in two sentences.
  3. Write one thing you wish you knew about each one before deciding.
  4. Swap with a friend or family member and have them argue the opposite. Do your answers survive?

What it tells you. If you enjoyed weighing the facts and finding the missing information, underwriting is that done well for real businesses. If you hated guessing without enough information, or felt uneasy turning someone down, the job will feel like that often, and a job closer to helping or selling may be better.

Better than any article

Questions for somebody who does this job

Most people say yes to a teenager who asks good questions. These are the ones that get real answers rather than encouragement.

  1. “What kind of risks do you underwrite, and what makes a good one or a bad one?”
  2. “How long did it take before you made decisions without checking with someone?”
  3. “What do you do when a broker disagrees with your decision?”
  4. “Which courses did you take, and did your employer support them?”
  5. “How is an underwriter's job changing because of climate, data and technology?”

Could you own one of these?

The part other career sites never mention

Not usually. Job Bank shows a low share of self-employment for underwriters. People in insurance can own agencies or brokerages, but that is selling and advising, and is licensed differently. See the insurance agent page.

Business 101 is free and teaches that part

Quick answers

Questions people ask about this job

How much does an insurance underwriter make in Ontario?

The median pay for an insurance underwriter in Ontario is $33.65 an hour, according to Job Bank (reference period 2023-2024, updated 19 November 2025). The range Job Bank publishes runs from $24.73 to $48.35 an hour. Pay varies by region, employer and experience.

What is the job outlook for an insurance underwriter in Ontario?

Job Bank rates the employment outlook for this work in Ontario as moderate for 2025-2027 (updated 10 December 2025). 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. A lower rating means more competition for each opening, not that no one is hiring.

What do you need to become an insurance underwriter in Ontario?

Job Bank says this work usually needs a college diploma, or an apprenticeship of two or more years. The usual route in Ontario, in order: Finish high school, and add general insurance experience or post-secondary study; Start in an insurance office; Do the courses while you work.

Where does an insurance underwriter work in Ontario?

Almost all insurance underwriters are employed in the finance and insurance sector, working at insurance carriers, agencies, and brokerage houses. (Job Bank.)

How many people work as an insurance underwriter in Ontario, and how many are women?

Job Bank counts about 11,100 people working in this job in Ontario. 67% of them are women, compared with 48% across all jobs. That describes who does the work today, not who can.

Not sure this is the right list to be reading

Start from yourself, not from the job.

Future Finder is free, takes about ten minutes, needs no account and stores nothing. It will tell you which kinds of work you lean toward, and which of these pages are worth your time.

Try Future Finder — freeAll jobs

Parent of a teenager weighing this up? Career coaching for teens gets them talking to people who do the work, anywhere in Ontario.

If this appeals, look at these too

insurance adjuster insurance agent actuary financial analyst accountant

Read next

University vs college vs apprenticeship What to do after high school Careers that match your strengths All careers guides

Wages and training requirements change. Every figure on this page is linked to the body that publishes it, and the review date above says when we last checked. If you find something out of date, tell us and we will fix it.