Is a finance or business administration degree an advantage for Insurance Underwriting job?

If I have done my graduate in finance or business administration then do I have an edge over other candidates applying for the same job?

Graduates who have a degree in finance or business administration, with courses in accounting definitely have an edge over others. And they are likely to find opportunities more frequently and easily for employment with large insurance companies. Getting a degree in finance or accounting is an important factor in your career but people with a normal graduation degree in any field can also apply for a job in this field. But more importantly if you do a specialisation in property or mortgage underwriting, which is an additional course in finance, accounts or computer applications, you will be at an advantage while going ahead in this field. It also depends on the profile that you are getting into. For example, if you are planning to take up anything related to health and life insurance underwriting job, then a degree in medical or paramedical field is important, as health and life insurance underwriters have to assess the medical risk along with the financial risk involved with an individual.

Also, apart from the educational qualification you should also have good communication and interpersonal skills which play an important role in this field as the work of an underwriter involves frequent communication with clients. You should have computer skills which have become an integral part of an underwriter’s day to day job. Analytical and decision making skills is also needed because as an underwriter you would be required to take quick decisions with accuracy. As it involves calculation of risk and premium, having mathematical skills is mandatory. You should have a good power of judgement too.