How much does an Claims technical analyst earn
A Claims technical analyst earns between $1.416 and $7.058 per month, with an average monthly salary of $2.863 and a median salary of $2.200 according to an Averwage.com salary survey along with to data of professionals hired and fired by companies in the labor market.
Our research is based on the salaries of 2.953 professionals hired and dismissed by the period from 06/2021 to 05/2022 (last year).
| Monthly Salary | Annual Salary | Salary Per Week | Hourly Salary | |
| Average wage | 2.863 | 34.359 | 716 | 14 |
| 1º Quartile | 1.416 | 16.996 | 354 | 7 |
| Median Salary | 2.200 | 26.400 | 550 | 11 |
| 3º Quartile | 5.383 | 64.592 | 1.346 | 26 |
| Higher Salary | 7.058 | 84.695 | 1.764 | 34 |
Professional job categories
- Middle level technicians
- medium level technicians in administrative sciences
- technicians of administrative sciences
- insurance technicians
Related Positions:
- Insurance assistant underwriter
- Auto risk inspector
- Claims adjuster
- Insurance technical assistant
- Claims technician
- Damage commissioner
- Insurance Analyst (technician)
- Insurance technical analyst
- Product assistant (insurance technician)
- Reinsurance technician
- Insurance Accounts Assistant
- Insurance sales assistant
Main workplaces
Insurance Technicians they work in insurance and private pension companies, mixed capital companies and government agencies in the insurance area. Work is carried out indoors during daytime hours. They are CLT or statutory workers and are organized as a team, under supervision. Eventually, they are subject to pressures at work that can cause stress.
What does it take to work in the field of Insurance Technicians
The exercise of these occupations requires high school education and professional courses of two hundred to four hundred class hours. The full performance of activities occurs after three to four years of experience.
Functions and activities of Claims technical analyst
Insurance Technicians must:
Activities
- demonstrate a sense of observation;
- survey customer needs;
- request documentation;
- inform data for the preparation of a technical note (sales cost, loss ratio);
- analyze proposed conditions for the insurance;
- get internal product approval;
- promote product adjustments;
- request medical reports and inspections;
- evaluate damages and quotes;
- provide insurance quote and conditions;
- receive requests for quotation and/or proposals;
- demonstrate decision-making ability;
- test fire safety equipment;
- assist the development of the computer system;
- request advance recovery;
- process documents (policies, amendments, endorsements, annotations);
- prepare technical claims report;
- prepare documentation and list of assigned risks (map or bordero);
- act with empathy;
- show credibility;
- compare competitors' products;
- recommend loss prevention measures;
- express yourself orally and in writing;
- propose investigation;
- search competitor market;
- schedule inspection;
- framing proposals to the company's reinsurance and coinsurance conditions;
- determine the insured's loss ratio;
- check implementation of suggested measures;
- suggest insurable value;
- disclose products;
- notify reinsurer and co-insurers of claims that have occurred;
- identify exposure and physical and moral aggravation of risk;
- search legislation;
- prepare documentation and list of outstanding and paid claims;
- attract new business and customers;
- photograph the object of the insurance;
- create internal standards and procedures;
- define inspection procedures;
- consult other areas of the company;
- act with patience;
- transmit information about customer needs;
- register claims;
- settle a claim (payment to the beneficiary or the insured);
- give technical and commercial support to customers;
- forward processes for reimbursement and/or recovery;
- frame proposals to the company's reinsurance and coinsurance conditions;
- demonstrate research ability;
- implementing partnerships with brokers and other distribution channels;
- act with objectivity;
- monitor portfolio results;
- track product implementation;
- increase production through distribution channels;
- analyze inspection reports, medical reports and questionnaires;
- act with empathy;
- demonstrate flexibility;
- assist in the training and development of personnel involved with the product;
- closing processes;
- determine insurance profitability;
- negotiate budgets;
- write contractual conditions for new products;
- calculate premiums;
- concept the product;
- elaborate inspection and survey reports;
- identify new market niches;
- check inspection object documentation;
- calculate reinsurance premiums and recovery;
- analyze contract;
- act with persuasion;
- elaborate technical opinion;
- submit proposals to the company's underwriting rules;
- evaluate the dynamics of the claim, with causal link (cause and effect);
- add documentation for bids;
- photograph the insurance object;
- obtain information on physical and moral characteristics of the risk;
- reason logically;
- send insurance renewal notices;
- reconcile current account with reinsurer and co-insurer;
Sectors that hire Claims technical analyst the most in the job market
- non-life insurance
- insurance, pension plan and health brokers and agents
- surveillance and private security activities
- other service activities provided mainly to companies
- insurance experts and assessors
- associative activities
- temporary labor lease
- document preparation and specialized administrative support services
- combined office and administrative support services
- life insurance
