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The differences between insurance analysts and adjusters can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance analyst has an average salary of $55,424, which is higher than the $49,396 average annual salary of an adjuster.
The top three skills for an insurance analyst include insurance coverage, insurance policies and life insurance. The most important skills for an adjuster are customer service, strong customer service, and litigation.
| Insurance Analyst | Adjuster | |
| Yearly salary | $55,424 | $49,396 |
| Hourly rate | $26.65 | $23.75 |
| Growth rate | -4% | -6% |
| Number of jobs | 44,280 | 7,936 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 62% |
| Average age | 44 | 44 |
| Years of experience | - | 4 |
An insurance analyst provides analytical services to maintain an efficient workflow at insurance companies. They are typically in charge of evaluating insurance policies to identify possible risks for the policyholder and the company, validating client information, and reviewing insurance applications to ensure their accuracy. They may meet with clients to answer inquiries, make arrangements, and advise which policies suit them the best. Moreover, an insurance analyst may process policy renewals and amendments, maintain records, perform cancellations, and investigate claims while adhering to the company's policies and regulations.
An adjuster is responsible for evaluating the extent of loss in the company by calculating the damage costs, determining the settlement payment to the client, and managing the reputation of the company for claims accountability. Adjusters must have extensive knowledge of the insurance principles and processes, following the state and federal regulations to protect clients and the business from insurance fraud. They collect documents from different organizations, perform field research, and interview witnesses to verify the accuracy of claims statement.
Insurance analysts and adjusters have different pay scales, as shown below.
| Insurance Analyst | Adjuster | |
| Average salary | $55,424 | $49,396 |
| Salary range | Between $34,000 And $88,000 | Between $35,000 And $68,000 |
| Highest paying City | San Francisco, CA | Parsippany-Troy Hills, NJ |
| Highest paying state | California | New Jersey |
| Best paying company | Credit Karma | FCCI |
| Best paying industry | - | Insurance |
There are a few differences between an insurance analyst and an adjuster in terms of educational background:
| Insurance Analyst | Adjuster | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 62% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between insurance analysts' and adjusters' demographics:
| Insurance Analyst | Adjuster | |
| Average age | 44 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 56.9% Female, 43.1% |
| Race ratio | Black or African American, 11.1% Unknown, 2.4% Hispanic or Latino, 9.0% Asian, 5.4% White, 71.7% American Indian and Alaska Native, 0.4% | Black or African American, 12.2% Unknown, 4.4% Hispanic or Latino, 16.3% Asian, 5.1% White, 61.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 10% |