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Insurance analyst vs claims representative

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 vs claims representative overview

Insurance AnalystClaims Representative
Yearly salary$55,424$38,796
Hourly rate$26.65$18.65
Growth rate-4%-6%
Number of jobs44,28018,565
Job satisfaction--
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 62%
Average age4444
Years of experience-6

What does an insurance analyst do?

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.

What does a claims representative do?

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 analyst vs claims representative salary

Insurance analysts and claims representatives have different pay scales, as shown below.

Insurance AnalystClaims Representative
Average salary$55,424$38,796
Salary rangeBetween $34,000 And $88,000Between $28,000 And $53,000
Highest paying CitySan Francisco, CADearborn, MI
Highest paying stateCaliforniaNew Jersey
Best paying companyCredit KarmaW. R. Berkley
Best paying industry-Government

Differences between insurance analyst and claims representative education

There are a few differences between an insurance analyst and a claims representative in terms of educational background:

Insurance AnalystClaims Representative
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 62%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Insurance analyst vs claims representative demographics

Here are the differences between insurance analysts' and claims representatives' demographics:

Insurance AnalystClaims Representative
Average age4444
Gender ratioMale, 28.7% Female, 71.3%Male, 37.5% Female, 62.5%
Race ratioBlack 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 Percentage9%10%

Differences between insurance analyst and claims representative duties and responsibilities

Insurance analyst example responsibilities.

  • Cold-Cal to generate leads for individual life and disability insurance and annuities.
  • Organize and examine medical records for physical therapy clinics for patients, attorneys and disability insurance claims.
  • Verify insurance benefits for specialty medications cover under both pharmacy and major medical benefits and communicate coverage to patients and physicians.
  • Prepare project kickoff PowerPoint presentation for client site visits.
  • Review retail and wholesale files to submit to FHA for HUD insuring.
  • Provide supporting documentation and reconciliation reports for monthly close and billing using GAAP.
  • Show more

Claims representative example responsibilities.

  • Perform initial set-up and continuously manage claims in the Juris claims management system.
  • Investigate, evaluate, and manage call to complete coverage analysis confirming or denying coverage using Xactimate estimating software.
  • Prepare necessary state filings within statutory limits, manage litigation and vocational rehabilitation process, used appropriate cost containment techniques.
  • Assist the training department in developing CSR training in order to set expectations.
  • Create custom templates and guide sheets for new trainees in the CSR Internet division to ensure consistency and increase department efficiency.
  • Utilize proper SIU reporting procedures for extensive investigation as required.
  • Show more

Insurance analyst vs claims representative skills

Common insurance analyst skills
  • Insurance Coverage, 11%
  • Insurance Policies, 8%
  • Life Insurance, 6%
  • Patients, 5%
  • Health Insurance, 5%
  • PowerPoint, 5%
Common claims representative skills
  • Customer Service, 26%
  • Quality Standards, 6%
  • Policy Coverage, 6%
  • Reservations, 5%
  • Claims Handling, 3%
  • Insurance Coverage, 3%

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