How much does an Insurance Analyst (technician) earn
A Insurance Analyst (technician) earns between $1.476 and $9.365 per month, with an average monthly salary of $3.679 and a median salary of $3.000 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 3.732 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 | 3.679 | 44.153 | 920 | 18 |
| 1º Quartile | 1.476 | 17.718 | 369 | 7 |
| Median Salary | 3.000 | 36.000 | 750 | 15 |
| 3º Quartile | 7.142 | 85.708 | 1.786 | 35 |
| Higher Salary | 9.365 | 112.382 | 2.341 | 46 |
Professional job categories
- Middle level technicians
- medium level technicians in administrative sciences
- technicians of administrative sciences
- insurance technicians
Related Positions:
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 Insurance Analyst (technician)
Insurance Technicians must:
Activities
- register claims;
- act with empathy;
- demonstrate flexibility;
- test fire safety equipment;
- reconcile current account with reinsurer and co-insurer;
- submit proposals to the company's underwriting rules;
- search competitor market;
- attract new business and customers;
- demonstrate research ability;
- photograph the insurance object;
- concept the product;
- transmit information about customer needs;
- check inspection object documentation;
- calculate premiums;
- determine insurance profitability;
- closing processes;
- request advance recovery;
- identify exposure and physical and moral aggravation of risk;
- receive requests for quotation and/or proposals;
- check implementation of suggested measures;
- analyze proposed conditions for the insurance;
- photograph the object of the insurance;
- implementing partnerships with brokers and other distribution channels;
- compare competitors' products;
- notify reinsurer and co-insurers of claims that have occurred;
- disclose products;
- act with persuasion;
- assist the development of the computer system;
- recommend loss prevention measures;
- define inspection procedures;
- act with empathy;
- request documentation;
- act with patience;
- demonstrate decision-making ability;
- prepare documentation and list of assigned risks (map or bordero);
- framing proposals to the company's reinsurance and coinsurance conditions;
- obtain information on physical and moral characteristics of the risk;
- demonstrate a sense of observation;
- search legislation;
- calculate reinsurance premiums and recovery;
- show credibility;
- prepare documentation and list of outstanding and paid claims;
- evaluate the dynamics of the claim, with causal link (cause and effect);
- evaluate damages and quotes;
- propose investigation;
- promote product adjustments;
- survey customer needs;
- request medical reports and inspections;
- send insurance renewal notices;
- create internal standards and procedures;
- frame proposals to the company's reinsurance and coinsurance conditions;
- suggest insurable value;
- forward processes for reimbursement and/or recovery;
- add documentation for bids;
- provide insurance quote and conditions;
- express yourself orally and in writing;
- inform data for the preparation of a technical note (sales cost, loss ratio);
- analyze inspection reports, medical reports and questionnaires;
- schedule inspection;
- give technical and commercial support to customers;
- consult other areas of the company;
- determine the insured's loss ratio;
- reason logically;
- negotiate budgets;
- monitor portfolio results;
- elaborate technical opinion;
- act with objectivity;
- get internal product approval;
- track product implementation;
- prepare technical claims report;
- assist in the training and development of personnel involved with the product;
- identify new market niches;
- settle a claim (payment to the beneficiary or the insured);
- process documents (policies, amendments, endorsements, annotations);
- increase production through distribution channels;
- elaborate inspection and survey reports;
- analyze contract;
- write contractual conditions for new products;
Sectors that hire Insurance Analyst (technician) the most in the job market
- insurance, pension plan and health brokers and agents
- non-life insurance
- other service activities provided mainly to companies
- health insurance
- temporary labor lease
- life insurance
- auxiliary activities of insurance, supplementary pensions and health plans
- electrical maintenance and repair services for motor vehicles
- business management consulting activities
- health plans
