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Risk and insurance consultant vs insurance adjuster

The differences between risk and insurance consultants and insurance adjusters can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a risk and insurance consultant, becoming an insurance adjuster takes usually requires 2-4 years. Additionally, a risk and insurance consultant has an average salary of $90,307, which is higher than the $57,315 average annual salary of an insurance adjuster.

The top three skills for a risk and insurance consultant include financial services, risk assessments and portfolio. The most important skills for an insurance adjuster are insurance policies, customer service, and liability claims.

Risk and insurance consultant vs insurance adjuster overview

Risk And Insurance ConsultantInsurance Adjuster
Yearly salary$90,307$57,315
Hourly rate$43.42$27.56
Growth rate11%-6%
Number of jobs61,77444,837
Job satisfaction-3
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 58%
Average age4344
Years of experience64

Risk and insurance consultant vs insurance adjuster salary

Risk and insurance consultants and insurance adjusters have different pay scales, as shown below.

Risk And Insurance ConsultantInsurance Adjuster
Average salary$90,307$57,315
Salary rangeBetween $69,000 And $117,000Between $40,000 And $80,000
Highest paying CitySan Francisco, CAHagerstown, MD
Highest paying stateRhode IslandNew Jersey
Best paying companyMcKinsey & Company IncCunningham Lindsey
Best paying industryInsuranceInsurance

Differences between risk and insurance consultant and insurance adjuster education

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

Risk And Insurance ConsultantInsurance Adjuster
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 58%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaStanford University

Risk and insurance consultant vs insurance adjuster demographics

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

Risk And Insurance ConsultantInsurance Adjuster
Average age4344
Gender ratioMale, 67.7% Female, 32.3%Male, 66.6% Female, 33.4%
Race ratioBlack 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%Black or African American, 13.0% Unknown, 4.4% Hispanic or Latino, 16.3% Asian, 5.1% White, 60.8% American Indian and Alaska Native, 0.5%
LGBT Percentage4%10%

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

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.

Insurance adjuster example responsibilities.

  • Achieve targeted performance goals in every aspect to manage costs and support Allstate's industry-leading operational standards.
  • Manage and dispose of claims in litigation by preparing and developing strategy with defense counsel and consensus relative to litigation handling.
  • Train in Xactimate estimation and sketch programs.
  • Manage and dispose of claims in litigation by preparing and developing strategy with defense counsel and consensus relative to litigation handling.
  • Skil in complex arbitration and mediation negotiations.
  • Recommend files for arbitration or litigation base on evidence available and inability to compromise with adverse party.
  • Show more

Risk and insurance consultant vs insurance adjuster skills

Common risk and insurance consultant skills
  • Financial Services, 7%
  • Risk Assessments, 7%
  • Portfolio, 6%
  • PowerPoint, 6%
  • Internal Audit, 4%
  • SAS, 4%
Common insurance adjuster skills
  • Insurance Policies, 15%
  • Customer Service, 15%
  • Liability Claims, 9%
  • Auto Claims, 7%
  • Catastrophe Claims, 5%
  • Public Adjusters, 4%

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