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The differences between insurance analysts and appraisers 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 $42,223 average annual salary of an appraiser.
The top three skills for an insurance analyst include insurance coverage, insurance policies and life insurance. The most important skills for an appraiser are commercial property, appraisal reports, and customer service.
| Insurance Analyst | Appraiser | |
| Yearly salary | $55,424 | $42,223 |
| Hourly rate | $26.65 | $20.30 |
| Growth rate | -4% | 7% |
| Number of jobs | 44,280 | 1,186 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 62% |
| Average age | 44 | 49 |
| 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 appraiser is someone who assesses the monetary value of a property such as an automobile, real property, and personal claim. His/Her or her responsibilities include resolving disparities between a property's monetary values and preparing narrative reports for projects. The essential skills that an appraiser should possess to accomplish such responsibilities include a keen eye for details, strong communication, analytical, and problem-solving skills, and the ability to work under pressure. The education requirements for the job vary depending on the area of focus.
Insurance analysts and appraisers have different pay scales, as shown below.
| Insurance Analyst | Appraiser | |
| Average salary | $55,424 | $42,223 |
| Salary range | Between $34,000 And $88,000 | Between $29,000 And $59,000 |
| Highest paying City | San Francisco, CA | San Mateo, CA |
| Highest paying state | California | California |
| Best paying company | Credit Karma | City National Bank |
| Best paying industry | - | Insurance |
There are a few differences between an insurance analyst and an appraiser in terms of educational background:
| Insurance Analyst | Appraiser | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 62% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance analysts' and appraisers' demographics:
| Insurance Analyst | Appraiser | |
| Average age | 44 | 49 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 67.8% Female, 32.2% |
| 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, 4.6% Unknown, 3.9% Hispanic or Latino, 6.8% Asian, 2.9% White, 81.5% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 8% |