Top 11 Underwriting Manager Certifications

Certifications are important for an underwriting manager in the job market because they demonstrate a level of expertise and knowledge in the field. They can help to distinguish qualified candidates from less experienced ones, as well as provide reassurance to employers that the candidate is capable of performing their duties. Certifications also provide evidence that a candidate has taken proactive steps to stay up-to-date on industry trends and regulations, which is essential for success in this role. Finally, certifications may be required by certain organizations or employers, making them a necessity for those looking to enter or stay competitive in the underwriting field.

The purpose of this article is to review some of the top certifications for Underwriting Managers and explain how they can enhance an underwriting manager's career.

What are Underwriting Manager Certifications?

Underwriting manager certification is a specialized training program that prepares individuals to manage the underwriting process in the insurance industry. This certification provides an understanding of the principles, concepts, and regulations that are involved in underwriting policies. It also covers topics such as risk management, financial analysis, and customer service. An individual who has completed this certification will be knowledgeable in how to properly assess risk and apply appropriate underwriting standards.

This certification can help insurance professionals in many ways. It can help them become more efficient and effective when underwriting policies for clients. This can result in better customer service since they will be able to provide customers with accurate and timely information about their policies. Additionally, having this certification may give individuals an edge when applying for promotions or higher-level positions within the company. Finally, it may also provide insurance professionals with a better understanding of the industry as a whole, giving them an advantage when dealing with complex cases or difficult decisions.

Pro Tip: When seeking an Underwriting Manager Certification, it is important to research the certifying organization and ensure that their credentials meet your industry standards. Additionally, make sure to review the certification requirements to ensure you have met all of the necessary qualifications before applying for a certification.

Related: What does an Underwriting Manager do?

Top 11 Underwriting Manager Certifications

Here’s our list of the best certifications available to Underwriting Managers today.

1. Certified Underwriting Manager (CUM)

Certified Underwriting Manager (CUM) is a professional designation that recognizes individuals who have achieved a high level of expertise in the field of underwriting. This certification is issued by the American Association of Professional Underwriters (AAPU). The CUM credential demonstrates an individual's commitment to excellence and knowledge in underwriting principles and practices.

The CUM certification process requires applicants to complete an online application, pass an examination, and meet certain educational requirements. Applicants must have at least three years of full-time experience in underwriting or related fields, as well as a bachelor’s degree or higher from an accredited college or university. In addition, applicants must submit documentation of their work experience and education for review by the AAPU.

Once all requirements are met, applicants can take the CUM exam which consists of 150 multiple-choice questions covering topics such as risk assessment, pricing strategies, legal issues, customer service, and product knowledge. The exam takes approximately four hours to complete and has a passing rate of 70%.

The cost for the CUM certification is $495 USD for members of the AAPU and $595 USD for non-members. Once certified, individuals must maintain their credentials through continuing education credits every two years.

2. Chartered Property Casualty Underwriter (CPCU)

Chartered Property Casualty Underwriter (CPCU) is a professional designation awarded by The Institutes, an organization that provides educational and research services to the insurance industry. The CPCU designation is one of the most respected and sought-after credentials in the property and casualty insurance industry. It is designed to recognize individuals who have demonstrated knowledge and experience in the field of property and casualty insurance.

To earn the CPCU designation, you must complete eight courses, pass eight exams, meet two years of relevant work experience, agree to abide by a code of ethics, and pay annual dues. Each course takes approximately three months to complete. The cost for each course ranges from $400-$600 depending on your membership status with The Institutes. In addition to course fees, there are exam fees associated with each exam ($150 per exam).

The total cost for obtaining the CPCU designation can range from $3200-$4800 depending on your membership status with The Institutes. It typically takes between 18-24 months to obtain the CPCU designation once you have completed all requirements.

3. Certified Insurance Counselor (CIC)

Certified Insurance Counselor (CIC) is a professional designation offered by The National Alliance for Insurance Education & Research. It is a comprehensive program designed to recognize individuals who have achieved excellence in the insurance industry.

The CIC program consists of five specialized courses that cover topics such as personal and commercial lines, life and health, agency management, and ethics. In order to become certified, individuals must pass all five exams with a score of 70% or higher.

It typically takes between six months and two years to complete the CIC program. This depends on the individual's experience level, study habits, and availability to attend classes or online instruction.

To get started, individuals must register for the CIC program through The National Alliance website. Once registered, they will receive access to course materials and exam information.

The cost of the CIC program varies depending on the number of courses taken and the delivery method chosen (online or classroom). Generally speaking, it costs around $2,000-$3,000 for all five courses plus exam fees.

4. Associate in Risk Management (ARM)

Associate in Risk Management (ARM) is a professional designation offered by the American Institute for Chartered Property Casualty Underwriters (AICPCU). The ARM program is designed to provide individuals with the knowledge and skills necessary to identify, analyze, evaluate, and manage risk. It is a comprehensive program that covers a wide range of topics related to risk management.

The ARM program consists of four courses: Principles of Risk Management, Enterprise Risk Management, Commercial Lines Coverage, and Personal Lines Coverage. Each course takes approximately 30 hours to complete. Once all four courses have been successfully completed, candidates will be eligible to take the ARM examination and become an Associate in Risk Management.

To get the ARM designation, candidates must first complete the four courses mentioned above. After completing the courses, they must then pass the ARM examination administered by AICPCU. The exam consists of 100 multiple-choice questions and must be completed within two hours.

The cost of obtaining an Associate in Risk Management designation varies depending on where you take the courses and how you choose to pay for them. Generally speaking, it can cost anywhere from $500-$2,000 USD depending on your chosen method of payment and provider.

5. Associate in Underwriting Management (AUM)

Associate in Underwriting Management (AUM) is a professional designation program offered by The Institutes, a leading provider of education and research for the insurance industry. This program is designed to help underwriters gain the knowledge and skills necessary to become successful underwriting professionals.

The AUM program consists of three courses: Principles of Underwriting, Risk Analysis & Evaluation, and Advanced Underwriting Practices. Each course is designed to provide an in-depth understanding of the principles and practices of underwriting. Topics covered include risk assessment, pricing strategies, policy forms, contracts, legal issues, and more.

The AUM program takes approximately six months to complete if studying full-time or one year if studying part-time. To get started on the program, you must first register with The Institutes and pay the registration fee which is $500 USD. Once registered, you can purchase the course materials online or through your local bookstore. After completing all three courses successfully, you will receive your Associate in Underwriting Management certificate from The Institutes.

The cost of the AUM program varies depending on whether you choose to study full-time or part-time and where you purchase your course materials from. Generally speaking, expect to spend around $1,000 USD for all three courses combined if studying full-time or around $1,500 USD if studying part-time.

6. Certified Professional Liability Underwriter (CPLU)

Certified Professional Liability Underwriter (CPLU) is a professional designation awarded by the Insurance Institute of America (IIA). It is designed to recognize individuals who have achieved a high level of expertise in the field of professional liability underwriting. This certification program provides an opportunity for professionals to demonstrate their knowledge and skills in this specialized area.

It typically takes between six months and one year to complete the CPLU program. The program consists of four courses: Professional Liability Underwriting, Professional Liability Claims, Professional Liability Risk Management, and Professional Liability Law. Each course requires passing a comprehensive exam.

To get the CPLU designation, candidates must first meet certain eligibility requirements such as having at least three years of experience in professional liability underwriting or related fields. They must also pass all four courses with a grade of 70% or higher and submit an application form along with supporting documentation.

The cost of the CPLU program varies depending on the provider but typically ranges from $1,500 to $2,500 USD.

7. Certified Professional Reinsurance Designation (CPRD)

The Certified Professional Reinsurance Designation (CPRD) is a professional designation awarded by the Reinsurance Association of America (RAA). It is designed to recognize individuals who have achieved a high level of expertise in the reinsurance industry. To earn the CPRD, an individual must demonstrate knowledge and experience in areas such as risk management, underwriting, claims handling, reinsurance administration and accounting, legal aspects of reinsurance, and other related topics.

It typically takes two to three years to complete the requirements for the CPRD designation. Candidates must first pass a written examination that covers all aspects of reinsurance. After passing this exam, they must then complete an approved course of study in one or more areas of specialization within the reinsurance industry. This includes completing courses at accredited universities or colleges, attending seminars and workshops sponsored by RAA members or other organizations, and participating in online learning programs.

Once all requirements are met, candidates must submit an application to RAA for review and approval. The cost for obtaining the CPRD designation varies depending on which courses are taken and how long it takes to complete them. Generally speaking, it can range from $2,000 - $4,000 USD for tuition costs alone. Additional fees may also apply for books and materials required for study purposes.

8. Chartered Life Underwriter (CLU)

Chartered Life Underwriter (CLU) is a professional designation awarded by The American College of Financial Services. It is the highest level of recognition for professionals in the life insurance industry. The CLU designation is designed to provide life insurance agents and financial advisors with an advanced level of knowledge and expertise in life insurance products, tax laws, estate planning, investments and retirement planning.

It typically takes between two to three years to obtain the CLU designation. To become a Chartered Life Underwriter, individuals must complete seven courses offered through The American College of Financial Services which cover topics such as taxation, estate planning, investment management, retirement planning and more. Additionally, applicants must pass four exams administered by the college in order to receive their CLU designation.

The cost of obtaining the CLU designation can vary depending on individual circumstances but typically ranges from $2,500 - $3,000 USD. This cost includes tuition fees for all seven courses as well as exam fees for each of the four exams required for certification.

Overall, obtaining the CLU designation requires a significant commitment in terms of both time and money but it is well worth it for those looking to become experts in the field of life insurance and financial services.

9. Accredited Advisor in Insurance (AAI)

Accredited Advisor in Insurance (AAI) is a designation offered by The Institutes, an organization that provides educational and research services to the risk management and property-casualty insurance industry. The AAI designation is designed for individuals who are involved in sales, marketing, underwriting, or service of personal lines insurance products. It recognizes those who have achieved a level of knowledge and expertise in the field of personal lines insurance.

The AAI designation requires the completion of six courses covering topics such as personal lines coverage, policy forms, underwriting principles and procedures, customer service principles, agency operations and ethics. To earn the AAI designation, individuals must pass all six exams with a score of 70% or higher.

It typically takes about six months to complete the coursework necessary to obtain the AAI designation. However, this time frame may vary depending on how quickly an individual can study and complete the required exams.

To get started on earning your AAI designation you must first register with The Institutes. Once registered you will be able to purchase access to each course's online learning materials and practice exams. After completing each course you will be required to take a proctored exam at an approved testing center.

The cost for earning your AAI designation varies depending on which courses you choose to take and where you take them from. Generally speaking it costs between $1,500 - $2,500 USD for all six courses and exams combined.

10. Certified Insurance Service Representative (CISR)

Certified Insurance Service Representative (CISR) is a professional designation for insurance agents, brokers, and customer service representatives. It is awarded by the National Alliance for Insurance Education & Research, a non-profit organization dedicated to providing education and training in the insurance industry.

To become a CISR, individuals must complete five courses: Personal Lines; Commercial Casualty; Commercial Property; Business Income and Extra Expense; and Agency Operations. Each course consists of three days of classroom instruction followed by an exam. The total cost of the program is $1,495.

In order to receive the designation, individuals must pass all five exams with a score of at least 75%. The exams are administered online or in person at one of the National Alliance's locations around the country. Upon successful completion of all five courses and exams, individuals will be awarded their CISR designation.

The CISR designation requires ongoing education in order to maintain it. Individuals must complete 15 hours of continuing education every three years in order to remain certified.

11. Associate in Commercial Underwriting (ACU).

Associate in Commercial Underwriting (ACU) is a professional credential awarded by The Institutes, a leading provider of insurance education and training. It is designed to recognize individuals who have demonstrated knowledge, experience, and skills in the underwriting of commercial lines of insurance.

The ACU program consists of eight courses covering topics such as property and casualty underwriting principles, risk assessment and analysis, legal liability concepts, and financial analysis. To earn the ACU designation, candidates must successfully complete all eight courses within two years.

To get started on the path to earning your ACU designation, you must first become an Associate in Insurance Services (AIS). This requires completing four core courses offered by The Institutes. Once you have obtained your AIS designation, you can then begin taking the required ACU courses.

The cost of obtaining the ACU designation depends on several factors including course fees and exam fees. Course fees vary depending on the course delivery method chosen (online or classroom). Exam fees are $90 per course for members of The Institutes or $110 per course for non-members. There are also additional costs associated with membership in The Institutes if desired.

Do You Really Need a Underwriting Manager Certificate?

The answer to this question depends on your particular career goals. An Underwriting Manager Certificate can be a great asset for those looking to advance their careers in the insurance industry. It is designed to give the holder a comprehensive understanding of the underwriting process, including risk assessment, pricing, and policy writing. In addition, it provides an opportunity to demonstrate expertise in managing a team of underwriters.

For those already working in the field, the Underwriting Manager Certificate can help them stand out from their peers and gain recognition as an expert in their field. It is also beneficial for those looking to switch into an underwriting role or transition into management within the industry. Having this certificate on your resume may make you more attractive to potential employers and give you an edge over other candidates who do not have it.

In conclusion, having an Underwriting Manager Certificate can be a valuable asset for many people seeking a career in the insurance industry. It can provide recognition of expertise and help open up new opportunities for advancement within the field. However, whether or not you need one will ultimately depend on your individual career goals and aspirations.

Related: Underwriting Manager Resume Examples

FAQs About Underwriting Manager Certifications

1. What is an Underwriting Manager Certification?

Answer: An Underwriting Manager Certification is a professional certification that verifies the knowledge and skills required to manage a successful underwriting department. It is offered by the Insurance Institute of America (IIA).

2. Who should pursue an Underwriting Manager Certification?

Answer: The Underwriting Manager Certification is designed for individuals who are responsible for managing underwriters and staff in an underwriting department. It is also beneficial for those interested in advancing their careers within the insurance industry.

3. What are the requirements to obtain an Underwriting Manager Certification?

Answer: To obtain an Underwriting Manager Certification, applicants must pass two exams administered by the IIA: Fundamentals of Risk Management and Insurance and Advanced Risk Management and Insurance. Applicants must also have three years of work experience in underwriting management or related positions.

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

Answer: The certification process typically takes about six months to complete, depending on how quickly you can prepare for and pass both exams.

5. What kind of job opportunities are available with this certification?

Answer: With this certification, individuals may qualify for jobs in underwriting management, such as assistant underwriter, senior underwriter, or chief underwriter positions. Additionally, having this certification can help individuals gain access to more advanced positions within the insurance industry.