There are more than 21,000 open positions in the property-casualty insurers sector. These jobs range from actuarial roles to claims adjuster jobs. You can also work in marketing or sales. If you’re looking for a career in insurance, property casualty insurers offer a potent career outlook and a respectable salary. If you’re a savvy negotiator and a good communicator, this industry may be perfect for you. While the job market for property-casualty agents is competitive, there’s always room for growth and advancement.
As the economy grows, more people will be needing actuaries. These professionals will be responsible for analyzing insurance policies and statistical data to assess the risks of different scenarios. They will also be responsible for developing new insurance products and assessing risks associated with them. The number of opportunities for actuaries will grow by 20% over the next decade. As companies continue to evolve and create new products, the need for actuaries will increase.
According to the Bureau of Labor Statistics, more than 21,000 jobs are available in property-casually insurers. Many of these positions are in sales or underwriting, while the rest are in claims processing. In October 2011, there were approximately 19,800 property-casualty insurance offices with fewer than 20 employees. Nearly 36,000 companies employed more than 500 people. This means that there is plenty of opportunity for someone interested in working in this field.
1. Property Contents Specialist
A Property Contents Specialist is responsible for investigating and evaluating claims. This includes assessing the extent of contents damage and managing content vendors. It also involves negotiating with insureds and their representatives. Claim handling also involves maintaining compliance with internal and external quality standards and state regulations. The property claims adjuster’s work requires extensive training and may involve travel. The job description also requires accurate assessment of losses in the field, including evaluating the extent of damages, taking photographs, and producing written and computer-aided estimates.
- Salary: $41,900 – $69,200 a year
Personal property insurance is important for replacing personal property. It is crucial to document and value each item, and provide as much evidence as possible. Documenting every item can help avoid the need to reconstruct an inventory list. The best way to do this is to enlist the assistance of family members, as well as using online resources to determine what an item would cost to replace. In the event that you cannot reconstruct your inventory list, a cash-out settlement may be a wise option.
2. Property Claim Unit Manager
The role of Property Claim Unit Manager at property-casualty insurers entails managing a diverse team of claims professionals. This position requires strong analytical, organizational, and negotiation skills. It also requires the ability to prioritize workload, organize multiple tasks, and identify problematic situations. In addition, this job requires a high level of technical proficiency in Microsoft Office.
- Salary: $87,800 – $144,800 a year
The position of Property Claim Unit Manager at property-casualty insurers is a leadership role that focuses on the success of the organization. The successful candidate will oversee several claims teams and foster a culture of claims customer service excellence. Moreover, this position will also be responsible for providing guidance and leadership to direct reports, collaborating with agents, and providing strategic insight into the book of business.
The position also requires a high level of attention to detail and a keen eye for detail. The claims manager is responsible for the management of open and closed claims, overseeing multiple claims workflows, conducting open and closed file reviews, and mentoring and training staff. The claim manager also responds to inquiries from other departments and participates in audits of primary adjusters.
3. Claim Representative
As a property-casualty insurer’s representative, you will handle claims from within the company. Your primary responsibility is to ensure that your customer is treated fairly and that their claim is legitimate. A claims representative will also perform thorough investigations to ensure that no fraud is involved. They may also consult with lawyers and medical professionals to determine the best course of action. In addition, a claims representative will negotiate settlements and authorize payments for customers. This is a crucial part of your job, so it is important to possess excellent communication skills.
- Salary: $60,200 – $74,700 a year
As a claims representative, you will need to analyze insurance policies and facts presented by customers to determine loss coverage and compensation. In addition, you will need to be skilled in investigating damage to property, as well as knowledge of insurance contracts and company policies. You will also need to be able to calculate the amount of damage to property to determine if the insurance company should treat the claim as a total loss or pay out the full amount of the claim.
If you are thinking about a career in the insurance industry, a college degree is a good choice. According to the BLS, nearly six in 10 claims representatives have a college degree, and five percent hold a master’s degree. However, a high school education is also acceptable, as one-seventh of claims representatives did not finish college. Some of the most common college degrees for claims representatives are business and criminal justice.
4. Legal Bill Reviewer
A Legal Bill Reviewer is a professional who reviews litigation-related invoices from vendors. They work closely with internal business units and external partners to ensure that legal bills are submitted consistently and accurately. This position requires a Bachelor’s degree and paralegal certification, and at least three years of relevant experience. They develop and maintain extensive knowledge related to determining the likely legal necessity for specific insurance defense related law firm work. Makes quick decisions and negotiates a resolution of billing issues or disputes. Utilizes claim file and document review to obtain claim strategy information and apply it during the review process. Ensures prompt, accurate and efficient auditing of submitted legal fee and expense invoices and amends as appropriate.
- Salary: $82,800 – $136,700 a year
5. Legal Secretary
If you’re looking for a job as a Legal Secretary for property-casualty insurers, there are a few things you should know. First, this position is highly technical and requires a minimum of two years of experience. You also should have excellent typing skills and have an understanding of Microsoft Word. Other duties include scheduling and coordinating meetings, preparing pleadings, and general office duties.
- Salary: $45,400 – $74,800 a year
Working for a property-casualty insurer requires a thorough understanding of legal terminology and concepts, as well as a thorough working knowledge of legal procedures. In addition to writing legal documents, this position requires you to be proficient in general office support, reviewing incoming mail, and providing telephone support.
As a Legal Secretary for a property-casualty insurer, you will be responsible for drafting the legal documents that cover the insured’s claims. You will review the policies and conduct research related to them. You’ll be expected to handle many different projects, ensuring that every issue is resolved in a timely manner. In addition, you’ll be expected to have advanced knowledge of MS Office and Outlook.
6. Document Support Specialist
In this position, you will be responsible for the classification of insurance documents, preparing them for preservation, and executing the company’s document preservation strategy. They are pesponsible for the categorization and reconciliation of insurance documents received through internal and external mail, as well as various archival sources. Prepares documents for digitization including removal of staples, paper clips, fasteners and posted notes from the documents. Analyzes documents in order to produce the best resolution for scanned reproductions. Accurately identifies and classifies documents according to characteristics per established guidelines.
- Salary: $32,700 – $54,000 a year
7. Financial Consultant
If you are a homeowner and are looking to add property-casualty insurance to your policy, a Financial Consultant may be the right choice for you. This type of insurance professional is specialized in this field and has specific knowledge of the industry. They help clients understand their insurance coverage and identify any gaps. They also consider how their insurance will affect their estate and overall financial plan. There are several types of consultants, including independent agents and large risk management companies.
- Salary: $57,100 – $94,200 a year
A financial advisor’s responsibilities range from greeting customers and answering questions to analyzing their financial situations and income and expenses. They also research opportunities and create custom plans for customers. They can also assist with paperwork such as lifestyle habits and age, and assist with insurance applications and policy renewals. Advisors also assist their clients with financial planning by meeting with them periodically to ensure they are meeting their goals.
Salary range for property-casualty insurance agents
Property and casualty insurance agents typically earn an average of $35,000 per year, or $17 an hour. This is significantly lower than the national average. The highest-paid agents work for companies such as AAA, while the lowest-paid work for companies such as State Farm Insurance. The following table highlights the salary range for property and casualty insurance agents. The table also explains the differences between the two types of insurance agents.
The highest-paid insurance agents earn more than $100,000 per year. Their salary depends on experience and how successful they are at building relationships with clients. For example, if they write $500,000 worth of premiums in one year, they will earn $75,000 as commissions. Eighty percent of those premiums will be renewed the next year. As with all jobs, experience plays an important role. Successful insurance agents must have a great work ethic and a willingness to learn.
The lowest-paid agents earn $26,120 a year. Those earning more than $26,120 per year earned more than the top 10% of agents. The highest-paid agents earn more than $120 an hour. This is nearly double the average wage for all American workers. The lowest-paid agents earn less than $26,120 per year. However, the pay difference for insurance agents depends on their sales and the type of insurance they specialize in.
Property-casualty insurers have jobs for every skill level, and some require licensing exams. However, you can usually prepare for the exam in a few weeks, and pass it in just a few days. The pay for this career varies depending on location and experience, but most companies pay either a salary or commission.
As the industry grows, so does the number of available jobs. According to the U.S. Bureau of Labor Statistics, employment opportunities in the property-casualty insurance industry are projected to grow 20 percent over the next decade. As companies continue to expand their business, they’ll need actuaries to evaluate the risks associated with new products. With these benefits, many people find a career in property-casualty insurance an attractive option. We continue to produce content for you. You can search through the Google search engine. You can check our recent article How Many Jobs Are Available in Consumer Durables? or you can find the relative posts right below.
There are more than 21,000 open positions in the property-casualty insurers sector. These jobs range from actuarial roles to claims adjuster jobs. You can also work in marketing or sales. If you're looking for a career in insurance, property casualty insurers offer a potent career outlook and a respectable salary. If you're a savvy negotiator and a good communicator, this industry may be perfect for you. While the job market for property-casualty agents is competitive, there's always room for growth and advancement.