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The differences between insurance analysts and claims representatives 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 $38,796 average annual salary of a claims representative.
The top three skills for an insurance analyst include insurance coverage, insurance policies and life insurance. The most important skills for a claims representative are customer service, quality standards, and policy coverage.
| Insurance Analyst | Claims Representative | |
| Yearly salary | $55,424 | $38,796 |
| Hourly rate | $26.65 | $18.65 |
| Growth rate | -4% | -6% |
| Number of jobs | 44,280 | 18,565 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 62% |
| 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 Representative is an agent who works for insurance companies in order to investigate and settle claims. The agent acts as an intermediary between customers and insurance companies by evaluating the customers' facts surrounding claims and determining whether the loss is covered or should be compensated. Such a role is important because an agent makes sure that no fraud claims are being paid out. It is also highlighted that an agent works in compliance with state regulations.
Insurance analysts and claims representatives have different pay scales, as shown below.
| Insurance Analyst | Claims Representative | |
| Average salary | $55,424 | $38,796 |
| Salary range | Between $34,000 And $88,000 | Between $28,000 And $53,000 |
| Highest paying City | San Francisco, CA | Dearborn, MI |
| Highest paying state | California | New Jersey |
| Best paying company | Credit Karma | W. R. Berkley |
| Best paying industry | - | Government |
There are a few differences between an insurance analyst and a claims representative in terms of educational background:
| Insurance Analyst | Claims Representative | |
| 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 claims representatives' demographics:
| Insurance Analyst | Claims Representative | |
| Average age | 44 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 37.5% Female, 62.5% |
| 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, 11.0% Unknown, 4.4% Hispanic or Latino, 16.5% Asian, 5.1% White, 62.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 10% |