Underwriting Specialist Salary at New York Central Mutual Insurance Co BETA
How much does a New York Central Mutual Insurance Co Underwriting Specialist make?
As of December 2024, the average annual salary for an Underwriting Specialist at New York Central Mutual Insurance Co is $96,161, which translates to approximately $46 per hour. Salaries for Underwriting Specialist at New York Central Mutual Insurance Co typically range from $83,838 to $107,505, reflecting the diverse roles within the company.
It's essential to understand that salaries can vary significantly based on factors such as geographic location, departmental budget, and individual qualifications. Key determinants include years of experience, specific skill sets, educational background, and relevant certifications. For a more tailored salary estimate, consider these variables when evaluating compensation for this role.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
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What Skills Does a person Need at New York Central Mutual Insurance Co?
At New York Central Mutual Insurance Co, specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
- Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
- Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
- Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
- Risk Management: Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.
- Pricing: Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods.
Related Jobs
Check more jobs information at New York Central Mutual Insurance Co
| Job Title | Average New York Central Mutual Insurance Co Salary | Hourly Rate | |
|---|---|---|---|
| 2 | Accounts Clerk II | $50,336 | $24 |
| 3 | Assistant Division Manager | $285,080 | $137 |
| 4 | Attorney | $141,344 | $68 |
| 5 | Auto Appraiser | $74,215 | $36 |
| 6 | Business Analyst II | $105,448 | $51 |
| 7 | Business Intelligence Developer | $122,524 | $59 |
| 8 | Claims Representative | $47,685 | $23 |
| 9 | Clerical | $42,983 | $21 |
| 10 | Compensation Analyst III | $103,077 | $50 |
| 11 | Competitive Pricing Analyst II | $76,811 | $37 |
| 12 | Customer Service Representative I | $38,968 | $19 |
| 13 | Customer Service Representative III | $51,460 | $25 |
Hourly Pay at New York Central Mutual Insurance Co
FAQ about Salary and Jobs at New York Central Mutual Insurance Co
The average hourly pay is $46. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
According to the data, the highest approximate salary is about $107,505 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
According to the data, the lowest estimated salary is about $83,838 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
There are various ways to increase the wage. Level of education: An employee may receive a higher salary and get a promotion if they obtain advanced degrees. Experience in management: an employee with supervisory experience can increase the likelihood to earn more.