The best Insurance jobs can pay up to $165,000 per year.
Depending on the type of insurance you want to cover, you have a wide range of job choices in the insurance industry. You could be an insurance salesperson, who is responsible for getting clients to sign up for policies. If you do not have an interest in sales, you could try to be a claims adjuster. An adjuster handles accident or injury claims, forwarding them to the firm so they can disburse funds to the client. Another possible job in the insurance industry is a claims investigator. This job involves you investigating the evidence as described by the claimant to determine whether, under their policy, they are eligible for coverage.
The minimum qualifications needed to get a job as an insurance premium auditor include a bachelor’s degree in accounting, risk management, or a related field. To be more competitive in your field, earn the certifications offered by The National Society of Insurance Premium Auditors. First, you need to complete the APA program, and then you may either complete the CIPA or the CIPTA, which is specialized for auditors who work over the phone. Once you have two years of experience in the field, you can earn the CIA certificate (Certified Internal Auditor).
1.High Paying Insurance Jobs
Automotive Finance and Insurance Manager
Salary range: $107,000-$165,000 per year
An automotive finance and insurance manager, also known as an F&I manager, works in the finance department of a dealership. You assist each customer with their purchase. Your responsibilities include discussing the sale of the vehicle with the customer, including the purchase price, taxes, and terms of the contract. As an F&I manager, you also outline payment options for the customer and explain their insurance requirements based on the finance agreement. An automotive finance and insurance manager may also have administrative duties. These duties include collecting payments, closing deals with lenders, closing out completed or canceled contracts, and filing all paperwork related to vehicle sales.
Salary range: $109,500-$149,000 per year
A pricing actuary is a statistician who works in either the insurance or financial industries. In this career, you use your extensive math skills to determine the price of products by calculating risks and analyzing data. Your goal is to ensure the coverage of the company’s expenses like the cost of claims or employee retirement. Your job duties include collecting statistical data, estimating claim payout probabilities like death or serious injury, contributing to policies for new products, handling state filing requirements, and maximizing returns. Actuaries need strong analytical and computer skills. Additional qualifications include a bachelor’s degree in math, statistics, or actuarial science is required.
Salary range: $93,000-$138,500 per year
A consulting actuary provides accounting and risk-assessment advice to clients. As a consulting actuary, you either work as part of a large consulting agency or as a freelancer. Your duties are to collect and analyze data and provide a solution to the company or client with whom you are consulting. Qualifications for a career as a consulting actuary include several years of experience in the actuarial field, and skills related performing financial audits and risk modeling. If you have a job as a freelance consulting actuary you will need to be comfortable seeking out new clients.
Salary range: $136,500-$137,000 per year
Actuaries model and measure the financial risk of future events for agencies and corporations that provide insurance, often using software like Excel and SQL. Actuaries are the business professionals most essential to the insurance industry. Their duties include maintaining daily correspondence with clients, programming or implementing risk management software, and strategizing events that bring financial risk to companies and their products. Actuaries price insurance policies and advise corporations on how to meet regulatory standards and balance capital. They lead busy professional lives, and on a daily basis they may review, prepare, and present reports to clients and executives whose financial well-being depends on the results of actuarial science. Four actuary specializations are property-casualty, life, health, and pension.
Salary range: $80,500-$134,500 per year
Actuaries work in the insurance and underwriting industry, calculating the economic costs of risk, rating risk management strategies, pricing insurance, and hedging against financial loss. The job duties of an actuarial assistant and assistant actuary are to compile and compute quantitative data for statistical analysis used in calculating valuation, risk, and loss. They work under the supervision of an actuary, developing and creating charts and graphs based on actuarial computations. An actuarial assistant also contributes to reports and makes recommendations to the company or its clients about the ways they can minimize or offset risk.
Salary range: $100,000-$133,000 per year
A claims director oversees the daily and long-term operations of an insurance claims department. In this career, you guide the department, establishing uniform policies on insurance coverage and claims for a variety of situations, such as personal injuries, property damage, or casualty loss, based on appraisal information and verification of claims by other insurance specialists. Although your duties and responsibilities are mostly in a managerial capacity, you may advise subordinates or take over claims that are particularly complex. You also represent the department and company and ensure that customers receive excellent service.
7.Life Insurance Actuary
Salary range: $81,500-$132,000 per year
A life insurance actuary helps determine pricing for life insurance policies to minimize cost and risk. As a life insurance actuary, your duties include assessing risk and uncertainty among customer bases, performing financial analysis, and creating reports for salespeople and management. Qualifications for becoming a life insurance actuary typically include a bachelor’s degree in mathematics, actuarial science, or a related field, as well as professional actuary certification. Many candidates gain relevant job experience and skills through summer internships or by starting at a different position at an insurance firm. Other useful skills include strong attention to detail, excellent written and verbal communication, and analytical problem-solving abilities.
Salary range: $91,500-$129,500 per year
As an underwriting manager, your duties are to oversee the daily operations and administrative tasks of the underwriting department, typically under the supervision of a department head or director. Your responsibilities include helping underwriters review applications, establishing appropriate screening protocols, and developing new methodologies and models to assess the financial risk that your company assumes in the course of its transactions with clients. As the manager, you ensure that your team is meeting its goals and understands the objectives of the office. You may also perform customer service functions on behalf of the department.
Salary range: $96,000-$124,500 per year
Insurance consultants, also known as insurance sales agents, work for an insurance company to develop and implement their insurance policies. As an insurance consultant, you can find a job in all types of insurance fields, including auto, health, and life insurance. Your primary duties involve gathering information, providing quotes, and developing and selling policies. This career requires a strong customer service background as well as sales experience, preferably in the role of an insurance agent. Additional qualifications include knowledge of the insurance industry, strong problem-solving skills, and a license in your state of operation. Many insurance consultants are paid on commission.
Salary range: $68,000-$124,500 per year
A property underwriter is responsible for determining the insurance premium funds and coverage amounts needed for property such as real estate, vehicles, and boats. Your main job duties as a property underwriter include screening applicants and examining the risk associated with a property based on factors such as borrower claims history, loan amounts, and environmental circumstances. The career typically requires a bachelor’s degree in business, finance, or a related field and strong analytical skills. You may also pursue professional certification from insurance organizations to demonstrate your expertise and gain a competitive advantage with employers.
11.Life Insurance Sales Agent
Salary range: $85,000-$119,500 per year
A Life Insurance Sales Agent is a professional salesperson specializing in selling life insurance policies to individuals. They are generally responsible for calling potential clients to add leads to their book of business and make sales, meet with clients, explain the various types of life insurance available, customize packages and quotes for clients, and handle policy renewals. Life Insurance Sales Agents may also be responsible for helping clients plan for their financial future and retirement and help facilitate any additional exams that may be needed for their policies to be underwritten. Those in this role need to be up to date on state regulations regarding insurance and with new policies being offered by the company.
Salary range: $116,000-$116,500 per year
A field examiner is an advisor and analyst at a banking or lending institution. As a field examiner, your primary responsibilities center on the regulation of banks, ensuring that the institution is following best practices in their interactions with borrowers, especially when it comes to issues with collateral. Your day-to-day job duties include interacting with bank management at all branches, assessing all banking operations, and creating new strategies to mitigate risk. Field examiners often travel from branch to branch. Important qualifications include a bachelor’s degree in a related field, usually finance, and work experience in the banking industry. Field examiners must have excellent analytical, communication, and leadership skills.
Salary range: $77,500-$116,500 per year
Health actuaries work for healthcare organizations and insurance companies. They analyze healthcare data and marketplace trends to determine future financial and strategic plans. Health actuaries prepare rate files, review plan reserves, and interpret medical patterns for new risks and opportunities. They create monthly reports from aggregate health plan data that is collected from national databases. As a health actuary, you also study current and new legislation to ensure your company follows all legal guidelines.
14.Commercial Real Estate Underwriter
Salary range: $79,000-$116,000 per year
A commercial real estate underwriter examines loan requests that involve commercial buildings and projects. Their duties are to write reports that evaluate the risk or potential loss on proposals and suggest contingencies to account for unforeseen circumstances. Responsibilities include determining a borrower’s creditworthiness by using data such as their job and credit history and recommending any changes to the loan coverage. Qualifications for a commercial real estate underwriter include a bachelor’s degree, an understanding of current lender policies, and an ability to evaluate property values.
15.Auto Damage Estimator
Salary range: $50,000-$114,000 per year
Auto damage estimators inspect vehicles after an accident to determine what types of repairs are necessary. They usually work for insurance or appraisal companies, collision repair shops, or vehicle manufacturers. In this role, you perform a visual inspection of the automobile, document the damage in your files and with photos, and create a list of problems and required repairs. You use your observations to estimate repair costs, investigate insurance and warranty information to estimate coverage, and provide and explain claim and settlement details to clients. Depending on your specific job duties, you may also be responsible for handling client disputes over how much the insurance company should cover.
Salary range: $60,000-$110,500 per year
A claims consultant is an insurance claims adjuster that helps protect their employers from insurance fraud. As a claims consultant, you perform the typical job duties of a claims adjuster while also conducting specialized investigations on complicated insurance cases. You may be called upon to give court testimony in cases that involve insurance liability and loss. You must receive specialized training to learn the skills necessary to analyze these complex insurance cases. Claims consultants work closely with management, legal teams, and clients, so experience with collaborative investigation is crucial. Additional qualifications include a degree in forensic accounting or a related field.
Salary range: $54,000-$107,500 per year
A medical underwriter reviews applications and drafts policies for health insurance applicants. As a medical underwriter, your main duties involve studying insurance documents, reviewing applications and medical exams, and calculating individual risk to your company. You also assign appropriate coverage and premium amounts. Positions are most often available with health insurance companies and brokers.
18.Personal Lines Underwriter
Salary range: $55,000-$107,500 per year
A personal lines underwriter is a person who determines whether or not a customer should receive insurance, such as home insurance, life insurance, or auto insurance. As a personal lines underwriter, your duties are to gather information about your customer’s lives and analyze their risk factors to decide whether they qualify for your services. You analyze occupational risks, tax and credit histories, and financial history. The career has several qualifications, including a bachelor’s degree in a field such as accounting or business administration, and experience in the insurance industry. Useful skills for the job include good written and verbal communication and strong mathematics.
Salary range: $68,500-$107,000 per year
Insurance companies hire actuarial analysts to measure the probability of accidents, injuries, product failures, and deaths that can occur within specific circumstances. In this job, you calculate the potential costs for these events. This data allows insurance companies to create policies and assign price values. This career also requires strong computer skills, advanced research capabilities, and proficiency in mathematics.
Salary range: $57,500-$105,500 per year
The most common underwriters work for insurance companies or financial institutions to evaluate financial risk for insurance policies or loans. They review applications and paperwork and can approve or deny the request based on a set of three criteria–credit reputation, capacity to repay the loan, and collateral value. Underwriters check the applicant’s credit report and credit history, weight their annual salary with the cost of the loan or policy, and determine the loan-to-value ratio. Using these factors, they may approve the application, suspend it until further stipulations are met, or deny it.
Other kinds of underwriters include equity underwriters who administer the distribution of securities, and debt securities underwriters who buy government bonds and other debt securities and sell them for a profit.
21.Licensed Insurance Agent
Salary range: $43,500-$105,000 per year
A licensed insurance agent sells a variety of insurance policies to customers based on the customer’s needs. Licensed insurance agents typically specialize in one or two types of insurance, such as car and home insurance or health and life insurance. You must complete training courses to learn general insurance or have some experience in the field to pass the state insurance license exam. Licensed insurance agents may also sell financial products and services.
Salary range: $64,000-$103,500 per year
A reinsurance accountant prepares reinsurance reporting packages for client accounts and offers assistance with servicing and accounting for existing reinsurance deals. As a reinsurance accountant, you prepare, review, and approve payments; help implement and improve systems to ensure accurate accounting; and report on ceded reinsurance activity. Your responsibilities also include setting up new client reporting, helping with agent negotiation, handling enrollment in new or amended agreements, and assisting with administrative tasks. You are expected to monitor claims and premiums, perform risk management, and lead the analysis and reconciliation of reinsurance to support financial statement preparation. Other duties include fulfilling reporting requests from various departments and clients as needed, as well as communicating issues and new trends to management while providing your recommendations.
Salary range: $52,000-$100,000 per year
An insurance manager oversees the performance of all the employees who work for an insurance branch and verifies that all corporate policies are followed, including the filing of client records. Specifically, as an insurance manager, you supervise a sales agent or broker to help them drive sales and make sure they sell enough policies. Then, you ensure each of your sales agents receives a commission for excelling in their duties. To maximize profits, you set premiums by using actuary data and information from appraisers to determine the likelihood of clients filing claims, as well as the value of their assets. In this role, you are typically involved in many actions that the branch takes, such as the approval, denial, or investigation of claims.
Salary range: $96,500-$100,000 per year
A general adjuster is an insurance professional that is responsible for analyzing incidents to determine the financial liability of the insurance company. As a general adjuster, your duties revolve around researching the property or physical damage related to insurance claims. You assess the cause of the incident, the extent of the damage, and the cost of repairs. Your research may require you to conduct interviews with law enforcement, medical professionals, and eyewitnesses to investigate the claims thoroughly. Essential qualifications for this career include investigative research experience and interpersonal skills.
Salary range: $54,000-$100,000 per year
Insurance advisors provide a range of insurance-related advice to individual customers. Your duties in this career involve financial management, client sales, and business advice for customers. You provide a detailed analysis of the current options available to your clients and suggest possible options for them to pursue. You also provide businesses with information related to compliance and insurance administration projects. You often work closely with underwriters and other people who assess risk to determine the best products for your customers.