If you like working with numbers, you may want to become an insurance analyst once you’re out of school. These professionals are normally employed by insurance providers, and they are usually in charge of analyzing factors that have to do with getting insurance or making an insurance claim. Once they review these factors, they can decide on whether or not a claim is valid or how to much or charge for premiums and payments.
Qualities and Skills
To become an insurance analyst, you’ll have to have certain qualities and skills. For instance, while you may not be required to know anything about science or history, you should be comfortable working with numbers. Because insurance analysts have to analyze many factors, you should also be able to pay attention to detail and have the skills necessary to solve problems after collecting many sources of information that may or may not be relevant to a given situation. While working, you’ll also come across many cases that aren’t black and white, so you should be prepared to make unbiased decisions in a quick and efficient manner. Insurance analysts often have to communicate with people over the phone, through email and in person, so good communication skills are also necessary.
Education
According to the Bureau of Labor Statistics, you’ll have to have at least a bachelor’s degree if you want to become an insurance analyst. While you may be able to get hired with a humanities degree if you minor in another area or take the right electives, most employers are looking for individuals who have degrees in:
- Finance
- Math
- Economics
- Business
If you want to stand out, try taking some computer science courses as electives. As a general rule of thumb, you don’t have to have previous experience in this line of work in order to get a job, but an internship or a related work experience is certainly helpful. You’ll be trained after you’ve been hired and will then be able to start working your way up the ranks.
Lifestyle
Every career is different, and every career requires workers to live a different lifestyle. Before you decide that you want to become an insurance analyst, find out whether or not your lifestyle fits this line of work. For instance, insurance writers normally work at a desk every day. If you can’t sit still for very long, this job may not be for you, but if you’re a calm person or a person with a medical condition that prevents you from working on your feet all day, the job could be a great fit. Most employers look for full-time employees who can work traditional hours, so people who can only work part-time may have trouble finding work. Individuals who need or want full-time hours may be in luck, though. The average insurance analyst earns a little over $60,000 annually, so you’ll be able to live comfortably, but you won’t be able to live like someone who’s part of the upper class.
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This type of job is a good choice for many people, but the work isn’t for everyone. If it sounds like a career that you’d enjoy, though, you may want to become an insurance analyst.
