Top 11 Insurance Underwriter Certifications

Certifications are an important way for insurance underwriters to demonstrate their knowledge and expertise in the field. They serve as a sign of credibility that can help job seekers stand out from the competition and give them a competitive edge when applying for jobs. Certifications also provide employers with assurance that the candidate has the necessary skills and knowledge to handle complex tasks. By having certifications, an insurance underwriter can demonstrate their commitment to excellence and professionalism, which can ultimately lead to better job opportunities.

The purpose of this article is to provide an overview of the top certifications available for Insurance Underwriters and to explain how they can help to further an insurance underwriter's career.

What are Insurance Underwriter Certifications?

Insurance underwriter certification is a professional designation that demonstrates an individual's knowledge and expertise in the field of insurance underwriting. It is based on principles of risk assessment, financial analysis, and legal compliance. The certification is designed to help insurance underwriters better understand the complexities of their job and improve their skillset to better serve their clients. By obtaining certification, insurance underwriters are able to demonstrate to employers, clients, and other stakeholders that they possess the necessary skills and qualifications for their role.

Certification can also provide insurance underwriters with an advantage when applying for new positions or promotions. Many employers prefer employees who have taken the time to obtain certifications as it shows dedication and commitment to their profession. Additionally, having a certification may also increase salary potential as well as open up career opportunities that may not have been available before. Finally, obtaining a certification can give insurance underwriters access to exclusive networking opportunities which can lead to further advancement in the industry.

Pro Tip: Make sure to keep up with continuing education requirements for your insurance underwriter certification. Many certifications have specific requirements that must be met in order to maintain the certification and stay up-to-date on industry trends and changes.

Related: What does an Insurance Underwriter do?

Top 11 Insurance Underwriter Certifications

Here’s our list of the best certifications available to Insurance Underwriters today.

1. Chartered Property Casualty Underwriter (CPCU)

Chartered Property Casualty Underwriter (CPCU) is a professional designation program offered by The Institutes, a leading provider of risk and insurance education. The CPCU designation is widely recognized as the premier credential for property and casualty insurance professionals. It provides individuals with the knowledge and skills needed to succeed in their chosen field.

It typically takes three to five years to complete the program, depending on how much time an individual can commit to studying. To become a CPCU, an individual must pass eight exams that cover topics such as personal lines of insurance, commercial lines of insurance, legal principles and ethics in the insurance industry.

To get started on the path to becoming a CPCU, individuals must first join The Institutes’ membership program and pay an annual fee of $225. This fee covers all study materials and access to online resources such as practice exams, webinars, podcasts, discussion forums and more. After joining The Institutes’ membership program, individuals must then register for each exam they plan on taking through Prometric or Pearson VUE testing centers. Each exam costs $175 per attempt.

Once all eight exams have been passed successfully, individuals will be awarded their Chartered Property Casualty Underwriter (CPCU) designation from The Institutes.

2. Associate in Commercial Underwriting (AU)

Associate in Commercial Underwriting (AU) is a designation offered by The Institutes, an organization that provides education and professional development opportunities for insurance professionals. It is designed to help individuals develop the skills and knowledge necessary to become successful commercial underwriters.

The AU program consists of two parts: a self-study component and an exam component. The self-study component includes reading materials, videos, and practice exams on topics such as commercial property and casualty insurance, risk management principles, legal considerations, and more. The exam component requires applicants to pass a series of exams that cover the same topics as the self-study materials.

It typically takes about six months to complete the AU program. To get started, you must purchase the course materials from The Institutes’ website or from a certified provider. The cost of the program varies depending on where you purchase it from but usually ranges from $1,000 to $2,000 USD.

Once you have completed all of the coursework and passed all of the exams, you will receive your Associate in Commercial Underwriting (AU) designation. This designation will demonstrate to employers that you have developed specialized knowledge in commercial underwriting and are ready to take on more responsibility in this field.

3. Associate in Personal Insurance (API)

Associate in Personal Insurance (API) is a professional designation offered by The Institutes, a leading provider of insurance education and training. The API designation is designed to help individuals demonstrate their knowledge and understanding of the personal lines insurance industry. It is an entry-level designation for those who want to work in the field of personal lines insurance.

The API program consists of five courses covering topics such as personal lines coverages, underwriting, claims, customer service, and risk management. Each course requires approximately 30 hours of study time and can be completed online or through self-study materials. To earn the API designation, individuals must successfully complete all five courses within two years.

To get started with the API program, individuals must first register with The Institutes and pay a registration fee. The cost for registering for the entire program is $1,100; however, there are discounts available for those who purchase multiple courses at once or who are members of certain organizations. After registering, individuals can begin taking courses right away or wait until they are ready to start studying.

Once all five courses have been completed successfully, individuals will receive their official API certificate from The Institutes. This certificate serves as proof that they have earned the Associate in Personal Insurance designation and can use it to demonstrate their knowledge and skills in this area to potential employers or clients.

4. Associate in Reinsurance (ARe)

Associate in Reinsurance (ARe) is a professional designation that recognizes individuals who have demonstrated knowledge and experience in the field of reinsurance. It is offered by The Institutes, a leading provider of professional education and credentials for the insurance industry.

The ARe designation requires completion of four courses: Principles of Reinsurance, Reinsurance Accounting and Finance, Advanced Topics in Reinsurance, and Legal Aspects of Reinsurance. The courses are available online or through classroom instruction at approved education providers. The program also includes an exam to test the student’s mastery of the material.

It typically takes about one year to complete all four courses and pass the exam. However, some students may be able to complete the program in less time if they are able to take multiple courses simultaneously or have prior knowledge in reinsurance topics.

To get started on your ARe designation, you must first register with The Institutes as a student member. This requires an application fee and annual membership dues that vary depending on your location. After registering, you can purchase course materials from The Institutes or from an approved education provider such as Kaplan Financial Education or 360training.com. Course fees vary but generally range from $200-$400 per course. Once you have completed all four courses and passed the exam, you will receive your ARe designation certificate from The Institutes.

5. Certified Professional Insurance Woman (CPIW)

Certified Professional Insurance Woman (CPIW) is a professional certification program designed to recognize the accomplishments of women in the insurance industry. This certification is offered by The National Alliance for Insurance Education & Research and is available to both men and women.

To become a Certified Professional Insurance Woman (CPIW), you must meet certain eligibility requirements, including having at least two years of insurance-related experience, completing a minimum of 30 hours of approved continuing education credits within the past three years, and passing an exam. The exam consists of 100 multiple-choice questions covering topics such as risk management, claims handling, underwriting, sales, customer service, and more.

The cost for the CPIW certification program varies depending on your location and whether or not you are a member of The National Alliance for Insurance Education & Research. Generally speaking, it costs around $350 to take the exam.

Once you have completed all the necessary requirements and passed the exam, you will receive your official CPIW designation via mail. It typically takes about four weeks to receive your certificate after passing the exam.

6. Chartered Life Underwriter (CLU)

Chartered Life Underwriter (CLU) is a professional designation for life insurance professionals. It is a mark of distinction that demonstrates expertise in the complex field of life insurance and financial planning. The CLU designation is offered by The American College of Financial Services, which has been providing professional education since 1927.

The CLU program consists of eight courses, each focusing on different aspects of life insurance and financial planning. These courses cover topics such as estate planning, retirement income planning, investments and taxation. In order to become a CLU, individuals must complete all eight courses and pass an exam administered by The American College of Financial Services.

The program typically takes two years to complete if taken on a full-time basis. However, it can be completed in less time if taken part-time or online. The cost for the program varies depending on the method chosen to take the courses (online vs in-person). Generally speaking, it costs between $2,500 and $3,000 to become a CLU.

7. Certified Risk Manager (CRM)

Certified Risk Manager (CRM) is a professional designation offered by the Global Risk Management Institute (GRMI). It is designed to recognize those who have achieved a high level of proficiency in risk management. The CRM program provides a comprehensive approach to risk management, covering all aspects of the risk management process from identification and assessment through to control, monitoring, and reporting.

The CRM program consists of three courses: Introduction to Risk Management, Advanced Risk Management, and Professional Practice. The courses are offered online or in-person and can be completed at your own pace. The total time required for completion depends on how quickly you complete the coursework but typically takes between six months and one year.

To become certified as a CRM, you must pass all three courses with a minimum grade of 70% or higher. Once you have successfully completed the coursework, you must submit an application form along with proof of completion to GRMI for review and approval. After approval, you will receive your official certification certificate.

The cost of the CRM program varies depending on whether you choose to take the courses online or in-person. Online courses typically cost around $2,000 while in-person classes range from $3,000-$4,000.

8. Insurance Institute of America's Associate in Insurance Services (AIS)

The Associate in Insurance Services (AIS) is a professional designation offered by the Insurance Institute of America (IIA). It is designed to provide insurance professionals with a comprehensive understanding of the principles and practices of insurance. The AIS designation is recognized as an industry standard for individuals who are interested in advancing their knowledge and career in the insurance industry.

The AIS program consists of four courses, each focusing on a different area of insurance: Property & Liability, Life & Health, Personal Lines, and Commercial Lines. Each course requires approximately 40 hours of study time and must be completed within one year. Upon completion of all four courses, students will receive their AIS designation.

To get the AIS designation, you must first become an IIA member. Membership costs range from $50 to $150 depending on your professional status. After becoming a member, you can register for the AIS program online or through your local IIA chapter. The cost for the program varies depending on which course you take and whether or not you are an IIA member. Generally speaking, it costs around $200 per course for non-members and around $100 per course for members.

Once you have registered for the program, you will be given access to online materials such as lectures, quizzes and exams that will help you prepare for each course. You can also attend live classes if available at your local IIA chapter or through webinars hosted by IIA staff members. Once all four courses have been completed successfully, you will receive your AIS designation and be eligible to use it on resumes and other professional documents.

9. Certified Professional Liability Underwriter (CPLU)

Certified Professional Liability Underwriter (CPLU) is a professional designation given by the American Institute for Chartered Property Casualty Underwriters (AICPCU). The CPLU designation is an advanced credential that recognizes individuals who have demonstrated a mastery of professional liability underwriting knowledge and skills. This certification is designed to help underwriters better understand the complexities of professional liability insurance, providing them with the tools they need to make informed decisions when assessing risk and developing coverage solutions.

It typically takes between six and twelve months to complete all requirements for the CPLU designation. To qualify, candidates must pass two exams administered by AICPCU: Principles of Professional Liability Insurance and Professional Liability Insurance Practices. Candidates must also have at least three years of experience in professional liability insurance or related fields.

The cost for the CPLU program varies depending on your membership status with AICPCU. If you are a member, it will cost $1,095; if you are not a member, it will cost $1,295. Additionally, there may be additional fees associated with taking the exams or any other materials needed for completion of the program.

Once you have successfully completed all requirements for the CPLU designation, you will receive your certificate from AICPCU and can use the CPLU acronym after your name on business cards, resumes, and other documents.

10. Certified Insurance Counselor (CIC)

Certified Insurance Counselor (CIC) is a professional designation that recognizes individuals who have achieved a high level of knowledge and expertise in the insurance industry. The CIC program is administered by the National Alliance for Insurance Education & Research, which provides education and training to insurance professionals.

To obtain the CIC designation, an individual must complete five courses in insurance and risk management, pass a comprehensive exam, and meet certain experience requirements. The courses are offered online or in-person at various locations throughout the United States. Each course requires approximately 40 hours of study time and can be completed within three to six months depending on the student's schedule.

The cost of obtaining the CIC designation varies depending on which courses are taken and where they are taken. Generally speaking, it costs between $1,000 - $2,000 to complete all five courses and take the exam.

11. Chartered Financial Consultant (ChFC).

Chartered Financial Consultant (ChFC) is a professional designation awarded by The American College of Financial Services. It is designed for financial professionals who provide comprehensive financial planning services to individuals, families, and business owners.

The ChFC program consists of nine college-level courses on topics such as insurance planning, investment planning, income taxation, retirement planning, estate planning, and financial analysis. To earn the ChFC designation, candidates must pass all nine courses and an ethics exam.

In order to be eligible for the ChFC program, candidates must have at least three years of full-time experience in the financial services industry or a bachelor’s degree from an accredited college or university. Candidates must also be members of The American College of Financial Services and pay an application fee.

The program typically takes between two and four years to complete depending on the candidate’s prior experience and educational background. The cost of the program varies depending on which courses are taken and whether they are taken online or in person. Generally speaking, the cost ranges from $2,000-$4,000 per course.

Do You Really Need a Insurance Underwriter Certificate?

The answer to this question depends on the individual and their career goals. For some, obtaining an insurance underwriter certificate is the best way to gain the knowledge and skills needed to become a successful underwriter. For others, it may not be necessary.

For those who are just starting out in their insurance career or who want to work in an entry-level position, an insurance underwriter certificate may not be necessary. However, if you want to advance your career and become a senior underwriter or manager, having an insurance underwriter certificate can open up more opportunities for you. Many employers prefer candidates with an insurance certification because it demonstrates commitment and dedication to the industry.

The insurance industry is highly regulated, so having a certification can also help demonstrate your understanding of state and federal regulations that apply to the insurance industry. This can increase your credentials as a professional and give employers confidence in you as they hire you for higher level positions.

Finally, having an insurance underwriter certificate can provide peace of mind when dealing with difficult claims or complex coverage questions. Knowing that you have been trained on how to handle these issues properly and efficiently can give both yourself and employers added confidence in your abilities.

In conclusion, whether or not one needs an Insurance Underwriter Certificate depends on the individual's career goals and experience level within the industry. For those wanting to move up within the field or demonstrate their knowledge of applicable laws, obtaining a certification is likely worth considering.

Related: Insurance Underwriter Resume Examples

FAQs About Insurance Underwriter Certifications

1. What is an Insurance Underwriter Certification?

Answer: An Insurance Underwriter Certification is a certification that demonstrates knowledge and proficiency in the field of insurance underwriting. This certification is typically earned through an examination administered by a professional organization such as the American Institute for Chartered Property Casualty Underwriters (AICPCU).

2. What are the benefits of obtaining an Insurance Underwriter Certification?

Answer: Benefits of obtaining an Insurance Underwriter Certification include increased job opportunities, access to better salary ranges, and recognition as an industry expert. It also indicates a commitment to ongoing education and training in the field.

3. How do I become certified as an Insurance Underwriter?

Answer: To become certified as an Insurance Underwriter, you must pass the exam administered by the AICPCU. The exam covers topics such as risk assessment, risk management, policy analysis and more. Additionally, most certifications require continuing education credits to maintain certification status.

4. Is there any special training required to obtain an Insurance Underwriter Certification?

Answer: While special training is not required to obtain an Insurance Underwriter Certification, it can be helpful in preparing for the exam and increasing your chances of success on the test. Many organizations offer online or in-person courses that focus on insurance underwriting topics covered on the AICPCU exam.

5. How long does it take to complete the certification process?

Answer: The length of time needed to complete the certification process varies depending on individual circumstances and preparation methods used for the exam. Generally speaking, it takes about three months from start to finish to earn your certification if you are adequately prepared for the test with self-study or other training methods such as online courses or workshops.