What does an Insurance Analyst do?

Insurance analysts evaluate different insurance policies to determine the associated risks involved for both the insurance company and the policyholder. They make changes to policies, gather data on lapsed coverage, cancel policies, and verify records’ accuracy. They use computer software to evaluate insurance policies to determine risks for both a policyholder and an insurance company and meet with clients to recommend a policy that suits their needs.

Insurance analysts also review policyholder applications to ensure they are filled out completely and accurately. They assist with and complete steps related to policy renewals, changes, and cancellations and verify policyholder records thoroughly. They review claims to ensure their legitimacy by verifying the policy’s details, conducting investigations, gathering relevant underwriting data, and providing management recommendations. Insurance analysts need a bachelor’s degree in business administration or related fields and relevant insurance coursework.

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Average Years of Experience

0 - 1
31%
2 - 4
34%
5 - 7
0%
8+
35%

Common Skill Sets

Acceptance Testing
IN Spanish
Excellent Customer Service
Influencing
Time Management
Meet Deadlines
Attention To Detail
Critical Thinking

Insurance Analyst Seniority Levels

Financial Analyst
9% made the transition
Financial Consultant
6% made the transition
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Insurance Analyst Salaries

Average Base Pay

CA$49,740 /yr
Same as national average
Not including cash compensation
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CA$41k
Median: CA$50k
CA$61k
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Glassdoor Estimated Salary

Insurance Analyst jobs

Insurance Analyst Interviews