A risk and insurance consultant provides advice to individuals and corporations on insurance issues. They review individual and company requirements before proposing a tailor-made cover plan. They use their business, finance, and insurance expertise to assist them in eliminating and mitigating the risks they undertake when processing insurance payouts. Risk and insurance consultants also organize surveys and prepare reports for underwriters to determine the potential financial risk for personal products and properties.
Risk and Insurance Consultants should have money management experience and be sales-oriented with excellent interpersonal skills. Since they deal with both clients and teams, they require verbal and written communication skills. They should possess good customer service skills and have the ability to convert complicated data into simple information.
Risk and Insurance Consultants usually work full time 40 hours per week from Monday to Friday between 9 and 5. Some additional work hours in the evenings and during the weekends, depending on the client's needs.
What is a Risk And Insurance Consultant?
What Does a Risk And Insurance Consultant Do
There are certain skills that many risk and insurance consultants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed interpersonal skills, time-management skills and problem-solving skills.
How To Become a Risk And Insurance Consultant
If you're interested in becoming a risk and insurance consultant, one of the first things to consider is how much education you need. We've determined that 67.1% of risk and insurance consultants have a bachelor's degree. In terms of higher education levels, we found that 21.4% of risk and insurance consultants have master's degrees. Even though most risk and insurance consultants have a college degree, it's impossible to become one with only a high school degree or GED.
Risk And Insurance Consultant Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of consultant you might progress to a role such as manager eventually. Later on in your career, you could end up with the title senior manager.
Average Salary for a Risk And Insurance Consultant
What Am I Worth?
Top Colleges for Risk And Insurance Consultants
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. SUNY at Binghamton
Vestal, NY • Private
5. Villanova University
Villanova, PA • Private
6. San Diego State University
San Diego, CA • Private
7. Bentley University
Waltham, MA • Private
8. Boston University
Boston, MA • Private
9. SUNY Stony Brook
Stony Brook, NY • Private
10. New York University
New York, NY • Private
Top Skills For a Risk And Insurance Consultant
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 6.3% of risk and insurance consultants listed financial services on their resume, but soft skills such as interpersonal skills and time-management skills are important as well.
Choose From 10+ Customizable Risk And Insurance Consultant Resume templates
Zippia allows you to choose from different easy-to-use Risk And Insurance Consultant templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Risk And Insurance Consultant resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Risk And Insurance Consultant Demographics
Risk And Insurance Consultant Gender Distribution
After extensive research and analysis, Zippia's data science team found that:
- Among risk and insurance consultants, 32.3% of them are women, while 67.7% are men.
- The most common race/ethnicity among risk and insurance consultants is White, which makes up 62.0% of all risk and insurance consultants.
- The most common foreign language among risk and insurance consultants is Spanish at 29.0%.
Online Courses For Risk And Insurance Consultant That You May Like
Risk Management Strategies: Risk Analysis Techniques: Risk Management Principles: Risk Management Process: Methods...
In this course, learners will look at how reserving works for P&C, Life and Annuity lines of business. Next, we look at how the capital and surplus for an insurance company is calculated and also the use of Surplus Notes to increase statutory capital. Learners will also explore how regulators calculate risk-based capital (RBC) and use it to monitor the solvency of insurance companies under their jurisdiction. Next, we’ll cover reinsurance which is a key component of risk management for...
Without risk, there can be no reward. Learn how to your risks it into your allies...
Best States For a Risk And Insurance Consultant
Some places are better than others when it comes to starting a career as a risk and insurance consultant. The best states for people in this position are Rhode Island, Virginia, New Jersey, and Texas. Risk and insurance consultants make the most in Rhode Island with an average salary of $109,238. Whereas in Virginia and New Jersey, they would average $105,503 and $100,633, respectively. While risk and insurance consultants would only make an average of $100,051 in Texas, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Rhode Island
$109,238
Avg. Salary
2. Nevada
$99,592
Avg. Salary
3. Vermont
$97,420
Avg. Salary
How Do Risk And Insurance Consultant Rate Their Jobs?
Top Risk And Insurance Consultant Employers
Most Common Employers For Risk And Insurance Consultant
| Rank | Company | Average Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| 1 | McKinsey & Company Inc | $114,628 | $55.11 | 3 |
| 2 | AIG | $102,534 | $49.30 | 3 |
| 3 | Deutsche Bank | $97,291 | $46.77 | 2 |
| 4 | Staff Leasing | $94,286 | $45.33 | 3 |
| 5 | Chubb | $93,453 | $44.93 | 4 |
| 6 | Aon | $92,728 | $44.58 | 3 |
| 7 | capSpire | $92,351 | $44.40 | 2 |
| 8 | AIR Worldwide | $90,600 | $43.56 | 5 |
| 9 | FIS | $90,215 | $43.37 | 3 |
| 10 | Protiviti | $89,595 | $43.07 | 6 |