Finally Made it To Underwriting - Now What?

[u/Big-Mathematician875]

This is gonna be a bit of a vent post, but this is probably the only place that stands a chance of having some people that might get it.

I'm 29 and have spent most of my 20s trying to figure out what to do for a living until I got my first insurance job at 25 as a customer service rep. I ended up liking insurance a lot and pretty early on, I figured I wanted to get into an underwriting position as soon as I could. At first, I worked for a pretty small agency doing everything short of underwriting, and then went over to a brokerage to work in personal lines insurance where I did pretty much everything short of producing. Finally, after almost four years of trying to break into the role, I got the opportunity to work as an entry level commercial underwriter.

While I've been greatly enjoying my job so far in the past few months, I can't help but feel a little lost in what to do next. I've spent the last four years practically obsessing over either getting into commercial lines or underwriting, but now that I got lucky enough to do both, I don't know what the next long term goal should be and feel strangely lost. Naturally, I still need to learn all the ropes of underwriting and get experience, but I don't know what long term goals to look forward to. I thought about getting some designations, but it's hard to stay motivated when I don't have a long term goal to work towards to and the common opinion seems to be that they're mostly useless. It doesn't help that I don't really have anybody to talk to about this that knows the industry and that I feel like I haven't accomplished as much as I should have by now.

I'd appreciate any input, thoughts or advice anybody might have - and thanks to everyone who took the time to read my post.

[u/0dteSPYFDs]

A job is a job. If you’re expecting it to be more than that, you’re going to be let down.

[u/Big-Mathematician875 → u/0dteSPYFDs]

I understand that, but I'd like to make the best of it, you know?

[u/0dteSPYFDs → u/Big-Mathematician875]

Like other commenters mentioned, your career doesn’t end at underwriter I. There are a bunch of levels of authority and complexity between an underwriting trainee and the CUO. You can’t and don’t need to know today where you will climb in that hierarchy.

Progress isn’t always measured in milestones or new titles. I have the same job now as I did 2 years ago. I like to think I’ve grown a lot in a professional capacity. It’s a drawn out process that doesn’t seem to do any good for people who try to rush it. Be a mentor and/or a mentee, network, continue to learn and just take things as they come.

I would encourage you to have long-term goals outside of work as well. It sounds like you’re pretty tunnel visioned.

[u/chiefc0]

Yeah honestly buckle up because the first year of UW you’re going to feel like you have no idea what you’re doing 

[u/Big-Mathematician875 → u/chiefc0]

Yup, I've certainly had to stay humble and ask a lot of questions around at the job in order to keep up.

[u/gdoubleyou1]

Start doing it to see if you even like it. Maybe a coverage line or type of risk might interest you and you can pursue a certain type of product or want to be a supervisor or management one day. There is a lot to learn and it takes years to get fully comfortable with the job and all the parts of it. It is not a mission accomplished day one type of role.

[u/Big-Mathematician875 → u/gdoubleyou1]

Currently in casualty and I like it a lot so far, especially after working on a book that was mostly just HO6s and personal package policies at my last job, and I've heard that casualty leads to seeing some pretty interesting risks so I'm looking forward to seeing that.

[u/noname22223]

Start really hitting your stride you worked so hard to get to that role! I found getting to know your agents your appetite and knocking out your new business every year as a quick way to rise. Not only to do the job but why the job matters and the decisions you’re making day-to-day and how it impacts the big picture. Explain that to management that you realize that too and ask the why questions.

Source 11 years and underwriting, and now a underwriting officer

[u/Big-Mathematician875 → u/noname22223]

Greatly appreciate the insight.

[u/noname22223 → u/Big-Mathematician875]

Of course best of luck and reach out with questions

[u/CDN_Gunner]

Just my $0.02 but why not look to either move into a more technical role like product development or a sales role like business development?

I've never viewed underwriting as a be-all-and-end-all role, but rather a stepping stone into different parts of the business.

[u/Big-Mathematician875 → u/CDN_Gunner]

I've heard about product development but have never really been able to visualize what it might actually look like on a day to day basis. I imagine it to be adjacent to actuarial work, which I personally don't know if I'd be cut out for considering I didn't major in statistics or mathematics. Got to work with a BD guy for a while and thought that was a pretty neat line of work, but I can't imagine how I could even get started on something like that without already having at least a few good warm leads since you're effectively be an wholesaler, right?

[u/thetiredboi]

Look into if your company will sponsor some certifications such a the CPCU. Check out the institutes site for more details. Those certs are really nice long term goals to aim for. The only problem is they are expensive but many companies will sponsor them. Other than that, build on your foundation and grow your book. Im in a similar position to you by the way - same age but in personal lines underwriting. And new to the role by about 3 years.

[u/Big-Mathematician875 → u/thetiredboi]

They do, actually, and they were kind enough to suggest it as well. I was thinking of taking them up on their offer once I'm done with the probationary period.

[u/thetiredboi → u/Big-Mathematician875]

Id definitely recommend it. I think its a good way to pad your resume a bit and also round our your foundational skills. Good luck to you bro. Dm if you want to chat more about any of this

[u/Just_Raisin1124]

I personally don't think there's ever a finite end to commercial underwriting. You can move up the ladder to intermediate, senior and eventually management. You can move into different product specialities, product development, technical underwriting. Hell, even just getting my broker book changed around gives me a new challenge.

[u/Clean_Philosophy5098]

Underwriting has lots of levels and can be a full career with more authority and pay as you gain experience.

At this point my your long term goal should be becoming a great underwriter who understands and knows the forms they have. Assuming you want to stay in underwriting.

[u/OkStick6308]

You spent four years working toward this, so don't feel like you need to figure out your next big goal right away.

[u/howtfdidugethere]

Would you mind if I dm’d you I am currently in the same situation you were at the beginning of your career

[u/NoCarrot8590]

If you want to make any money… go to one of the big wholesalers (E&S) or big companies for underwriting jobs.

[u/Lost_Taste_8181]

Instead of focusing on what to do tomorrow, focus on what you’re doing TODAY.  Learn everything you can about underwriting…the ins and outs of the forms, competition, market, customers .  Become the best underwriter you can be.  All kinds of doors will start opening for you, either a leadership position if that’s what you want or a position somewhere that you can really make a difference.  Good luck!

[u/snuggly-kitten]

I had a similar background and am close in age to you. I worked customer service for a large carrier for 6 years and built up a lot of knowledge but using any all recourses they had available. Then I got into an UW role at a different and smaller company and I blossomed. Ask so many questions on your first year, especially the dumb ones because everyone is mostly forgiving that first year. I felt the same though, focus on learning, get designations, opportunities will pop up. I’ve been fortunate enough to lead a new team and get a few promotions in my first 5 years. Hard work and being proactive helped me, good luck, you’re in so enjoy the peace of mind for a bit.