What does an Insurance Analyst do?

Insurance analysts evaluate different insurance policies to determine the associated risks involved for both the insurance company and the policyholder. They make changes to policies, gather data on lapsed coverage, cancel policies, and verify records’ accuracy. They use computer software to evaluate insurance policies to determine risks for both a policyholder and an insurance company and meet with clients to recommend a policy that suits their needs.

Insurance analysts also review policyholder applications to ensure they are filled out completely and accurately. They assist with and complete steps related to policy renewals, changes, and cancellations and verify policyholder records thoroughly. They review claims to ensure their legitimacy by verifying the policy’s details, conducting investigations, gathering relevant underwriting data, and providing management recommendations. Insurance analysts need a bachelor’s degree in business administration or related fields and relevant insurance coursework.

EducationBachelor's Degree
Work/Life Balance
3.4 ★
Salary Range--
Career Opportunity
3.4 ★
Avg. Experience8+ years

Insurance Analyst Salaries

Average Base Pay

£27,080 /yr
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
£19K
Median: £27K
£38K
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Glassdoor Estimated Salary

Insurance Analyst Career Path

Learn how to become an Insurance Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

L1
Insurance Analyst Entry Level
£30,322/yr
L2
See Career Path

Insurance Analyst Insights

Read what Insurance Analyst professionals have to say about their job experiences and view top companies for this career.
ICICI Prudential Life InsuranceICICI Prudential Life Insurance
Insurance Consultant
21 Oct 2019

“Interesting and best opportunity which I worked”

Western Financial GroupWestern Financial Group
Insurance Advisor
10 Nov 2021

“They claim to be about career progression and diversity but progress is based on how well you fit into the clique”

TDTD
Insurance Advisor
5 Jun 2020

“You get used to it pretty quick though and the pay well compensates for that in my opinion.”

Bloom Insurance AgencyBloom Insurance Agency
Licensed Healthcare Insurance Advisor
11 Dec 2021

“Months of working here and never got a reply from HR on any of the emails I sent to them.”

USHEALTH AdvisorsUSHEALTH Advisors
Health Insurance Advisor
26 Jul 2021

“You can be the best salesman in the world and it still doesn’t matter.”

The Co-operatorsThe Co-operators
Associate Insurance Advisor
13 Jan 2020

“great place to start a career with good professional and training development courses”

TD Insurance
Insurance Analyst
2 Apr 2021

“Great work and people there”

belairdirectbelairdirect
Licensed Insurance Advisor
28 Oct 2021

“Excellent opportunities to grow and diversify your career”

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Insurance Analyst Interviews

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Insurance Analyst jobs

Frequently asked questions about the role and responsibilities of an insurance analyst

When working as an insurance analyst, the most common skills you will need to perform your job and for career success are Acceptance Testing, IN Spanish, Excellent Customer Service, Influencing and Time Management.

The most similar professions to insurance analyst are:
  • Financial Analyst
  • Financial Consultant
  • Finance Manager
  • Controller

The most common qualifications to become an insurance analyst is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.