Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between insurance analysts and claims analysts 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 $48,398 average annual salary of a claims analyst.
The top three skills for an insurance analyst include insurance coverage, insurance policies and life insurance. The most important skills for a claims analyst are customer service, medical terminology, and CPT.
| Insurance Analyst | Claims Analyst | |
| Yearly salary | $55,424 | $48,398 |
| Hourly rate | $26.65 | $23.27 |
| Growth rate | -4% | -6% |
| Number of jobs | 44,280 | 22,062 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 52% |
| Average age | 44 | 44 |
| Years of experience | - | 6 |
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.
A claims analyst specializes in processing medical insurance claims. They are primarily responsible for verifying the authenticity and eligibility of claims, analyzing the billing, communicating with policyholders, and ensuring adherence to all the policies and regulations during the entire procedure. Furthermore, a claims analyst is also in charge of administrative tasks such as keeping and updating records, reaching out and sending reports to creditors, setting appointments and schedules, processing paperwork, coordinating with key personnel, and discussing terms and necessary information to clients.
Insurance analysts and claims analysts have different pay scales, as shown below.
| Insurance Analyst | Claims Analyst | |
| Average salary | $55,424 | $48,398 |
| Salary range | Between $34,000 And $88,000 | Between $29,000 And $78,000 |
| Highest paying City | San Francisco, CA | Trenton, NJ |
| Highest paying state | California | New Jersey |
| Best paying company | Credit Karma | |
| Best paying industry | - | - |
There are a few differences between an insurance analyst and a claims analyst in terms of educational background:
| Insurance Analyst | Claims Analyst | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between insurance analysts' and claims analysts' demographics:
| Insurance Analyst | Claims Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 27.6% Female, 72.4% |
| 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, 11.3% Unknown, 4.4% Hispanic or Latino, 16.4% Asian, 5.1% White, 62.3% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 10% |