Top 25 Best Paying Jobs In Specialty Insurers In 2024
Top 25 Best Paying Jobs In Specialty Insurers In 2024. Insurance is a huge, lucrative industry that requires complex calculations to make it profitable. It requires a lot of expertise and bureaucracy to work properly, meaning that there are a lot of available careers in specialty insurance. Kamerpower.com
Demand for insurance will increase, but employment in the insurance industry will increase more slowly than employment growth across all industries. Many of the positions in the insurance industry are office jobs, which are seen as being cozy and reliable. If you find it unappealing, there are certain exceptions, such as insurance investigators and insurance appraisers that visit claims in person.
Is Specialty Insurer A Good Career Path?
Yes, specialty insurers are a great career choice. An enormous and successful sector, insurance needs intricate math to be profitable. There are many careers in specialized insurance because it requires a lot of knowledge and bureaucracy to function efficiently. Jobs in the insurance industry frequently have a lot of room for advancement, so you have a high chance of getting hired and earning well.
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Best Paying Jobs In Specialty Insurers
1. Risk Assessment Analyst
Risk assessment analysts can work in any industry. Their responsibility is to determine how risky various business choices are. They mainly focus on operational risks as in, risks associated with the business that the company is in. Average Annual Salary is $78,000.
2. Liability Analyst
A liability analyst analyzes a company or organization’s risks. This can be what assets they have that are vulnerable or if a practice they’re engaged in is risky. That can be in terms of financial loss, asset loss, or a high probability of being sued – especially if the suit is likely to be successful. Average Annual Salary is $81,000.
3. Insurance Appraiser
Insurance appraisers are responsible for checking up on claims. Their job is to assess the damage and make sure that the cause is covered by the insurance policy. Most of their duties are focused on evaluation, both in terms of making sure that the coverage is applicable as well as deciding how much money the insurance company owes. Average Annual Salary is $46,000.
4. Insurance Broker
Unlike an insurance sales representative that represents the insurance company, insurance brokers represent the client. They have strong knowledge of insurance policies, risk assessment, and coverage to help their client pick the best insurance policy for their needs. Average Annual Salary is $97,000.
5. Liability Claims Manager
As the title implies, this is a management position. That means that this job is focused more on overseeing the process and helping the employees in the department effectively do their jobs. A liability claims manager manages the department that processes liability insurance claims. Average Annual Salary is $61,000.
6. Liability Claims Representative
This is a heavily customer-facing job. A liability claims representative is the person that clients go to when making an insurance claim. They have to be available to take calls and get the information they need, all while being professional and calm. Average Annual Salary is $50,000.
7. Insurance Verification Representative
An insurance verification representative’s role is to make sure that a procedure is covered by the insurance policy. They work with clients to ensure they know what’s covered and what isn’t, as well as to explain why certain procedures aren’t covered. Average Annual Salary is $31,000.
8. Insurance Clerk
Insurance clerks are responsible for keeping records up to date. They process applications, modifications to a policy, and cancellations. Someone in this role has to be extremely detail-oriented and organized, as the accuracy of the information can determine whether or not an insurance company properly pays out a policy. Average Annual Salary is $33,000.
9. Insurance Claims Processor
Insurance claims processors are responsible for the paperwork and monitoring of a claim. They verify that the information they’ve been given is correct and in line with the insurance policy. This job requires speaking with the claimant, the beneficiary, and other employees of the company, as needed. Average Annual Salary is $37,000.
10. Appraiser
Appraisers may work directly for an insurance company to determine how much something should be insured for, or they work for a private party to calculate the value of artwork, antiques, or property. Average Annual Salary is $55,000.
11. Insurance Agent
Insurance agents are salespeople. They’re responsible for getting new clients in the door and signing up for insurance policies. They’re most often seen in automotive insurance, but they aren’t restricted to that industry. Average Annual Salary is $46,000.
12. Insurance Specialist
They work with the client to help interpret insurance plans as well as explain risk management plans. They are typically employed by an insurance company and are responsible for following government requirements and regulations. Average Annual Salary is $39,000.
13. Insurance Underwriter
The main job of an insurance underwriter is to evaluate the risk of an insurance applicant. They then decide whether or not to offer them a policy and how high the premium should be. Average Annual Salary is $61,000.
13. Medical Coder
Medical coders are experts in medical insurance and billing. Their primary duty is to translate medical procedures into codes that can be processed by insurance companies. Average Annual Salary is $44,000.
14. Marine Underwriter
Underwriters, as a rule, analyze risk in terms of insuring a particular person, vehicle, or policy. In this case, you’d be focused on marine insurance. That means you have to be familiar with maritime law, what ports the insured vessel will be expected to visit, as well as the value of the cargo, the vessel itself, and the crew. Average Annual Salary is $54,000.
15. Billing and Insurance Coordinator
Billing and insurance coordinators are responsible for making sure that the billing and insurance administrative tasks are taken care of. They are most often employed in medical settings. Average Annual Salary is $50,000.
16. Insurance Sales Representative
This is a sales position. Insurance sales representatives call clients and potential clients to try to get them to sign on. They also need to know their audience in order to offer them an insurance deal that they’re likely to purchase. Average Annual Salary is $75,000.
17. Loss Control Consultant
Loss control consultants look for potential risks in a company or industry and come up with ways to mitigate them. This means that they have to be well acquainted with the industry in question and usually have experience in that industry before moving into this role.
18. Insurance Investigator
Insurance fraud is a major concern for insurers, especially when large sums of money are involved. That’s where insurance investigators come in. Their job is to investigate the claim and make sure that it isn’t fraudulent. Average Annual Salary is $43,000.
19. Insurance Attorney
They can work to represent the insurance company in the case of preventing fraud or lowering a payout or represent an insurance policyholder who feels that they’ve been maligned. Average Annual Salary of an Insurance Attorney is $75,000.
