Insurance Analyst Job Description

Insurance Analyst Job Description

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Insurance analyst provides insurance coverage, verification details prior authorization statues and alternate funding options for existing and newly launched products.

Insurance Analyst Duties & Responsibilities

To write an effective insurance analyst job description, begin by listing detailed duties, responsibilities and expectations. We have included insurance analyst job description templates that you can modify and use.

Sample responsibilities for this position include:

Use Excel to perform Profitability Models and be confident in explaining the profitability of new and existing insurance products
Calculate all general insurance expenses including IT Finance
Obtain timely, complete and accurate information from various departments within the Firm to enable optimal renewal of all insurance lines
Support the Solvency II project by performing analyses on the insurance policy portfolio
Assist in research, organization and maintenance of statutory filing requirements for international insurance operations through maintaining filing requirements chart, calendar and coordinating with international operations counterparts in various countries worldwide
Assist the General Counsel and Counsel – Insurance Regulatory with legal support on corporate transactional matters for international operations
Manage, coordinate and maintain property and casualty insurance program
Coordinate certificates of insurance
2 or more years of relevant work experience preferably including statistical modeling and data mining in a P&C insurance context using large and complex datasets
Maintain claims log for annual billingVarious Insurance Related Matters

Insurance Analyst Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Insurance Analyst

List any licenses or certifications required by the position: IIBA, LOMA, TSA, CPCU, ARM, AINS, CIC, CRM, RMIS, CIP

Education for Insurance Analyst

Typically a job would require a certain level of education.

Employers hiring for the insurance analyst job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Business, Finance, Accounting, Education, Management, Economics, Mathematics, Statistics, Computer Science, Business/Administration

Skills for Insurance Analyst

Desired skills for insurance analyst include:

Billing
Specialty pharmacy operations
Prior authorization and appeal filings
Alternate funding resources
Reimbursement processes
Commercial and government pharmacy and medical insurance programs
Insurance
Accounting and rate-making concepts
Excel
Microsoft Office products

Desired experience for insurance analyst includes:

Possesses a university degree/college diploma and 5+ years progressive business analysis experience, supporting smaller to medium size projects
Gather, document and manage business requirements and is familiar with different techniques for gathering requirements
Solid understanding and use of tools associated with the role
New Product Design & Analysis on Ingenium – PLAN, RHDR, RLTB (Plans, Rate Headers, Rate Load Tables)
Commissions via FASAT/EIM
Experience as a lead for requirements management activities

Insurance Analyst Examples

1

Insurance Analyst Job Description

Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of insurance analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for insurance analyst
  • Prepare the business plan, the budget and the two forecasts projections during the year
  • Prepare the business plan, budget and forecasts full Income Statement for all companies in the group
  • Perform analysis of the economic results of the group companies and make a comparison with the budget and the forecasts during the course of the year
  • Prepare monthly reports for both the Risk Committee and the Board of each entity
  • Respond to frequent requests for financial information from other Group entities, from our distributors and from other relevant counterparties
  • Coordinate international regulatory filing submissions, including liaising with outside counsel, including preparing and completing applications, fee payments, certified documents, registration renewals, as required
  • Collaborate with finance, operations, and underwriting departments to respond to regulator inquiries in connection with regulatory filings and audits for international operations
  • Coordinate with the Office of the Corporate Secretary on governance matters including assisting on data entry and information requests from the Office of the Corporate Secretary database
  • Coordination and distribution of signature requests from executives for the signature of documents
  • Perform online legal research and work with legal documentation
Qualifications for insurance analyst
  • At least 3 years experience in BA
  • Organised individual who can self-manage multiple priorities, routine work and urgent issues as they arise
  • Display Attention to Details in all aspects of work and relationship
  • Can establish him/herself as a Reliable Point of Contact for internal and external parties
  • Relevant 3rd Level Degree (actuary, finance, economics etc)
  • Relevant experience in a busy reporting environment
2

Insurance Analyst Job Description

Job Description Example
Our company is looking for an insurance analyst. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for insurance analyst
  • 40% Evaluate, monitor and update 30+ insurance policies, having a total budget of over $3 million
  • 15% Complete annual insurance applications
  • 5% Participate in quarterly meetings with insurance brokers to discuss current and outstanding issues
  • 5% Participate in quarterly Operation Risk Management meetings and present once a year updating the committee on current insurance issues
  • 5% Process insurance invoices, allocating to cost centers
  • Process certificate of insurance and vehicle ID cards as needed
  • Gather and review underwriting information and specifications
  • Determine premium TIV formulas for covered properties
  • Budget preparation and premium allocations
  • Monitor & control policies and endorsements
Qualifications for insurance analyst
  • Good understanding of capital, profit and value measurement and drivers of margins and profits in the wealth protection value chain
  • Solid understanding of general business and financial metrics and the ability to understand the implications of various business plans and initiatives on financial outcomes
  • Capable decision making skills in commercial and people environments
  • Paralegal degree preferred
  • Post-secondary accreditation in business or related field is an asset
  • BS degree with 3-5 years Business Analyst experience
3

Insurance Analyst Job Description

Job Description Example
Our growing company is looking to fill the role of insurance analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for insurance analyst
  • Proactively engages with business stakeholders to ensure that proposed risk guidance around insurance requirements is understood, practical, and adds value
  • Manage monthly accounting and budget variance reporting process for global insurance costs
  • Responsible for the timely and accurate submissions of Data Calls to state Insurance Departments, NCCI and Independent Workers’ Compensation Bureaus, ISO, AAIS and other statutory and regulatory entities
  • Analyze and articulate business requirements to translate them into functional requirements
  • Translate business requirements to create and execute viable user acceptance test cases with traceability
  • Organize information gathered from multiple sources, reconcile conflicts and present information in a manner that business partners can review to make informed decisions
  • Apply expertise to work with end-users to educate and resolve workflow problems
  • Develop user guides, process documentation and reference materials for business end users
  • Ensure effective communication of the initiatives, goals, requirements, specifications, expectations and progress between all parties for maintenance releases and projects
  • 20% Originate and participate in discussions with various members of Senior, Mid-Level and Front Line Management
Qualifications for insurance analyst
  • 4+ years' experience within the financial services industry (potentially less for those with specific group or retail life insurance pricing experience)
  • Experience in insurance or commercial mortgage banking/and or servicing is preferred
  • Independently execute research projects ensuring quality and timelines
  • Learn and apply established research tools and methodologies to develop research ideas
  • Demonstrate sound working knowledge in insurance industry or its sub-sectors by delivering industry insights
  • Liaise with U.S. -based insurance team to understand, refine, and manage project expectations and priorities
4

Insurance Analyst Job Description

Job Description Example
Our growing company is looking to fill the role of insurance analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for insurance analyst
  • Assist in claim loss analysis, documentation and submission
  • Compile and maintain SOX compliance documentation for Treasury & Risk Management department
  • Prepare daily cash position and movement of funds
  • Manage, maintain and update bank accounts including signors, legal names
  • Assist in the preparation of weekly and long term cash forecast and improve variance analysis
  • May review work of less seasoned staff for accuracy, logic and appropriateness
  • Own RMIS system change management procedures, data reliability, and reporting functions
  • Develop and manage UA’s global exposure growth database within RMIS system
  • Analyze draft third-party contracts
  • Ability to break requirements into logical phases and identify key dependencies
Qualifications for insurance analyst
  • Clarifies the business rationale of a solution concept
  • Educates developers on a project’s business context
  • Effectively collaborates with geographically distributed teams
  • Deep knowledge in technology
  • Ability to understand and navigate the organizational structure to identify and gain access to the appropriate business and technology stakeholders, users and smes effectively and efficiently
  • Knowledge of Business Objects, LifePro, Issue/Sharp, and general ledger knowledge a plus
5

Insurance Analyst Job Description

Job Description Example
Our company is growing rapidly and is hiring for an insurance analyst. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for insurance analyst
  • Assist in the editing process of the ISO Quarterly Statistical Data Submissions
  • Identify Data Quality issues impacting reporting and propose solutions
  • Supply statistical data to internal customers
  • Facilitate the reconciliation of data from multiple sources
  • Ensure procedures and workflows are well documented and kept current
  • Improve the level of automation surrounding workarounds, reconciliations and systems supported extracts
  • Working closely with other team members, we promptly process all requests and questions to ensure we can close and fund all loans in a timely fashion
  • Monitor and manage the Non-Agency pipeline to ensure loan statuses are up-to-date with investors
  • Weekly investor funding reports are analyzed and verified
  • Sense of urgency, attention to detail, time management and independent thinking are crucial in this role
Qualifications for insurance analyst
  • Execute payments
  • Follow up to ensure payments were received by beneficiary
  • Liaise with broker/insurance Co
  • Deal with any inquiries from the local country teams
  • Solid end to end business BA skills
  • 3 - 5 years analysis experience within Financial Services / Insurance

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