Broken Underwriting: Why Hiring Underwriters Is So Hard, and How to Fix It

Most underwriting managers can name the role they've been trying to fill for months. Experienced underwriters are in short supply right across Australian General Insurance, and the gap is widest at senior level, where technical depth and broker trust take the longest to build.

The underwriting talent shortage is real, and it isn't new

Ask almost any insurer or underwriting agency and you'll hear the same thing: good underwriters are hard to find. Underwriting has been one of the hardest areas of insurance to hire for over several years, and the pressure hasn't eased. This isn't a blip tied to one hard market. It's structural, and it needs a structural response.

Why underwriting recruitment breaks down

An ageing workforce and a thin pipeline

A large share of the insurance workforce is nearing retirement, and underwriting feels it sharply. A senior property or financial lines underwriter carries years of risk knowledge, broker relationships and loss history that no system replaces overnight. When they retire without a successor ready, it shows up in referral queues, slower quotes and nervous brokers. Underneath them, too few assistant underwriters are coming through to take their place.

Technical skills are shifting

Employers now want underwriters who pair sound technical judgement with comfort in data and pricing tools, an understanding of emerging risks like cyber and climate, and the ability to explain a decision clearly to a broker. That blend is rare, and job descriptions that ask for all of it at once shrink an already small pool.

Underwriting agencies and MGAs are competing for the same people

Underwriting agencies and MGAs are now a major part of the Australian market, and they can offer what larger insurers sometimes can't: real authority, a specialist niche and a short line to decision makers. Insurers and agencies are fishing in the same pool, so strong candidates usually have more than one conversation on the go.

The hiring process itself

Some of the damage is self-inflicted. We regularly see four or five interview stages, feedback that takes a fortnight and salary bands set against last year's market. Good underwriters are rarely out of work, so a slow process gives them every reason to stay put or accept the counter-offer.

Retention is part of the hiring problem

Every underwriter who leaves creates a vacancy that's hard to fill, so keeping good people is the most cost-effective underwriting recruitment there is. Underwriters stay where they can see a path to greater authority, where their technical development is taken seriously and where they feel trusted. Clear authority frameworks, mentoring from senior underwriters and honest conversations about progression do more than a one-off pay rise.

How to fix your underwriting hiring

The employers who hire underwriters well don't rely on luck or a bigger salary. They do four things, every time:

• Define the role you actually need. Separate the must-haves from the nice-to-haves. Be clear on authority level, class of business and broker mix, and decide whether you need a class specialist or someone who can grow into the portfolio.

• Move quickly. Lock in interview dates before the search starts, keep stages to a minimum and give feedback within days, not weeks. Candidates read speed as a sign of how much they'll be valued.

• Hire for potential as well as experience. Look seriously at strong assistant underwriters, technical brokers and claims professionals with a good feel for risk, and pair them with an experienced mentor to build your own bench.

• Work with a specialist. A specialist General Insurance recruiter knows what the market is paying, who is genuinely open to a move and how to position your opportunity. That's the role our underwriting recruitment team plays for insurers, underwriting agencies and MGAs across Australia.

Let's talk about underwriting recruitment

Whether you're building out an underwriting team or weighing up your own next move, Oliver (Ollie) Bell, our underwriting recruiter, is always happy to have a confidential chat. Get in touch through our Underwriting Recruitment page, or explore our General Insurance division.

Frequently asked questions

Why is it so hard to hire underwriters in Australia?

Underwriting combines deep technical judgement with broker relationships and authority that take years to build. Experienced underwriters are in short supply, a large part of the workforce is nearing retirement, and the graduate pipeline is thin. Add strong demand from underwriting agencies and MGAs, and experienced candidates have plenty of choice.

What skills are employers looking for in underwriters today?

Strong technical knowledge of the class of business is still the foundation, along with sound risk judgement and the ability to build trust with brokers. Increasingly, employers also value comfort with data, pricing tools and emerging risks such as cyber and climate.

How can we speed up our underwriting hiring process?

Agree on the essentials of the role before you start, keep interview stages to a minimum, book interview times in advance and give candidates prompt feedback. Make sure your salary range reflects the current market, as good underwriters are rarely available for long.

Why use an insurance underwriter recruitment agency?

A specialist agency already knows the underwriting talent pool, including people who aren't actively applying. It can benchmark salaries, assess technical ability and authority levels, and present your opportunity in a way that resonates with underwriters, which saves time and reduces the risk of a costly mis-hire.

Does HAYLO People recruit for underwriting agencies and MGAs as well as insurers?

Yes. We recruit underwriting roles for insurers, underwriting agencies, MGAs and brokerages across Australia, from Assistant Underwriter through to Underwriting Manager and Head of Underwriting. Visit our Underwriting Recruitment page to speak with Ollie.