What Does an Insurance Analyst Do?

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  • Written By: G. Wiesen
  • Edited By: Shereen Skola
  • Last Modified Date: 01 April 2020
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The duties of an insurance analyst can vary, depending on the company an analyst works for and the specific tasks expected of him or her. Insurance companies often employ analysts to consider different insurance policies to determine risks involved that can impact both the premium and payments required. Analysts at these companies can also be responsible for reviewing claims that clients make, to determine if they are legitimate and to make recommendations on payment. An analyst can also be employed by companies that are not directly involved in insurance, to determine what types of insurance may be needed and to evaluate risks.

There are a number of different tasks that an insurance analyst may need to perform at a company, depending on his or her employer. Insurance companies often employ analysts to review different potential risks and determine the amount or type of insurance that should be offered for them. An analyst at an automotive insurer, for example, might consider various models of cars and review safety records on them to provide a recommendation on rates for owners of those vehicles. Health or life insurance companies can use analysts to review individuals to determine how their health conditions might impact premiums.


An insurance analyst can also be employed by an insurer to review and determine the legitimacy of claims made by insured parties. When someone files a claim with an insurance company, then analysts often review the details of the claim and perform an investigation to look for fraud or other mitigating circumstances. An insurance analyst often reads a report and performs an investigation. This may require traveling to the scene of an accident, interviewing claimants or witnesses, and working with law enforcement to find fraudulent claims. At the end of an investigation, the analyst then presents a recommendation to the company regarding how a claim should be handled.

Some companies that are not insurance providers might also employ an insurance analyst to provide information regarding possible risks or insurance needs. A college, for example, can hire an analyst to look for potential risk issues that need to be dealt with to avoid possible injuries that could be claimed against the school. An analyst can provide these types of employers with information regarding the kinds of insurance they should have and how well protected they are. This can allow companies to have a better understanding of how insurance can protect their owners and employees, and to ensure that an adequate and appropriate level of insurance is maintained.


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Post 3

@Laotionne - A healthy salary often comes with an insurance analyst job, but this is because a great deal of responsibility also comes with the position. Analysts are responsible for how companies spend large amounts of money in many cases, so the job is demanding to say the least.

Post 2

It sounds like an insurance analyst is one of those general profession titles that covers a lot of different duties depending on which company you work for. I saw an ad for an insurance analyst in the newspaper, and the salary that went with the position was very competitive. And they were looking for someone to fill a ground level position and possibly work her way up in the company.

Post 1

I have a friend who was math wiz all through high school. He had a natural gift for solving equations and grasping mathematical concepts. One of our math teachers was always getting upset with him because he didn't follow the steps he was supposed to, but he usually came up with the correct answers.

When he graduated high school he wasn't sure what he wanted to pursue as a profession, but he knew he should focus on a career where he could take advantage of his math skills. After getting to college he decided he would teach -- not that he really wanted to, but he could use his math skills as a math teacher.

Anyway, somehow, one of

his advisers convinced him to think of business rather than teaching as a future career. He now works as an actuary for a large insurance company. Basically, he figures out how mush the company needs to charge for specific policies in order to make the amount of profit they need to make.

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