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Material damage adjuster vs risk and insurance consultant

The differences between material damage adjusters and risk and insurance consultants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a material damage adjuster, becoming a risk and insurance consultant takes usually requires 4-6 years. Additionally, a risk and insurance consultant has an average salary of $90,307, which is higher than the $53,724 average annual salary of a material damage adjuster.

The top three skills for a material damage adjuster include insurance claims, policy coverage and repair estimates. The most important skills for a risk and insurance consultant are financial services, risk assessments, and portfolio.

Material damage adjuster vs risk and insurance consultant overview

Material Damage AdjusterRisk And Insurance Consultant
Yearly salary$53,724$90,307
Hourly rate$25.83$43.42
Growth rate-6%11%
Number of jobs28,60561,774
Job satisfaction--
Most common degreeBachelor's Degree, 68%Bachelor's Degree, 67%
Average age4443
Years of experience46

Material damage adjuster vs risk and insurance consultant salary

Material damage adjusters and risk and insurance consultants have different pay scales, as shown below.

Material Damage AdjusterRisk And Insurance Consultant
Average salary$53,724$90,307
Salary rangeBetween $36,000 And $80,000Between $69,000 And $117,000
Highest paying CityFlorence, KYSan Francisco, CA
Highest paying stateAlaskaRhode Island
Best paying companyErie InsuranceMcKinsey & Company Inc
Best paying industryInsuranceInsurance

Differences between material damage adjuster and risk and insurance consultant education

There are a few differences between a material damage adjuster and a risk and insurance consultant in terms of educational background:

Material Damage AdjusterRisk And Insurance Consultant
Most common degreeBachelor's Degree, 68%Bachelor's Degree, 67%
Most common majorBusinessBusiness
Most common collegeSUNY FarmingdaleUniversity of Pennsylvania

Material damage adjuster vs risk and insurance consultant demographics

Here are the differences between material damage adjusters' and risk and insurance consultants' demographics:

Material Damage AdjusterRisk And Insurance Consultant
Average age4443
Gender ratioMale, 61.2% Female, 38.8%Male, 67.7% Female, 32.3%
Race ratioBlack or African American, 11.6% Unknown, 4.5% Hispanic or Latino, 15.3% Asian, 5.8% White, 62.3% American Indian and Alaska Native, 0.5%Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3%
LGBT Percentage10%4%

Differences between material damage adjuster and risk and insurance consultant duties and responsibilities

Material damage adjuster example responsibilities.

  • Apply strong customer service, organizational and multitasking skills to efficiently manage auto insurance claims.
  • Review files for SIU investigations for all fire and theft losses.
  • Resolve total loss claims using CCC evaluations for market evaluation of vehicles.
  • Research and resolve total loss claims, while obtaining reports from CCC.
  • Create summaries explaining repair cost differences for arbitration purposes.
  • Research and review delinquent mortgage cases, financial scenarios and individual homeowner situations to develop solutions compliant with investor policy.
  • Show more

Risk and insurance consultant example responsibilities.

  • Manage litigation through appropriate selection of counsel, developing strategic action plans a while monitoring an active trial calendar.
  • Implement the forecasting models in SAS.
  • Monitor business line compliance to credit policy, exceptions to policy, underwriting standards and portfolio management.
  • Identify and capture risk factors, including idiosyncratic and macroeconomic to support capital assessment, portfolio management and business decisions.
  • Define and document a new application architecture which load client databases with properly format data using in-house develop Java ETL applications.
  • Process subpoenas, arrange depositions, process statutory requests for medical records and review medical records prior to depositions.

Material damage adjuster vs risk and insurance consultant skills

Common material damage adjuster skills
  • Insurance Claims, 21%
  • Policy Coverage, 19%
  • Repair Estimates, 7%
  • ISO, 6%
  • Customer Service, 5%
  • Police Reports, 5%
Common risk and insurance consultant skills
  • Financial Services, 7%
  • Risk Assessments, 7%
  • Portfolio, 6%
  • PowerPoint, 6%
  • Internal Audit, 4%
  • SAS, 4%

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