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Workers' compensation claims adjuster vs risk and insurance consultant

The differences between workerss' compensation claims adjuster 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 workers' compensation claims 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 $57,583 average annual salary of a workers' compensation claims adjuster.

The top three skills for a workers' compensation claims adjuster include customer service, claim process and compensation benefits. The most important skills for a risk and insurance consultant are financial services, risk assessments, and portfolio.

Workers' compensation claims adjuster vs risk and insurance consultant overview

Workers' Compensation Claims AdjusterRisk And Insurance Consultant
Yearly salary$57,583$90,307
Hourly rate$27.68$43.42
Growth rate-6%11%
Number of jobs16,50661,774
Job satisfaction--
Most common degreeBachelor's Degree, 63%Bachelor's Degree, 67%
Average age4443
Years of experience46

What does a workers' compensation claims adjuster do?

A worker's compensation claims adjuster is responsible for analyzing and validating compensation claims, ensuring eligibility and accuracy to authorize payments. Their responsibilities also include coordinating with different departments to gather data, liaising with internal and external parties, determining the amount of compensation, and negotiating claims. Furthermore, a worker's compensation claims adjuster may also perform administrative support tasks such as preparing progress reports and other documentation, answering calls and inquiries, maintaining records of all transactions, and training new members of the workforce.

What does a risk and insurance consultant do?

A risk and insurance consultant is a person whose job is to advise organizations and companies on what might happen in the future and how to deal with it. They advise the management on the next steps and possible outcomes. A risk and insurance consultant does research and calculations and uses that to predict or solve financial or risk issues.

Workers' compensation claims adjuster vs risk and insurance consultant salary

Workerss' compensation claims adjuster and risk and insurance consultants have different pay scales, as shown below.

Workers' Compensation Claims AdjusterRisk And Insurance Consultant
Average salary$57,583$90,307
Salary rangeBetween $40,000 And $82,000Between $69,000 And $117,000
Highest paying CitySacramento, CASan Francisco, CA
Highest paying stateRhode IslandRhode Island
Best paying companyThe Travelers CompaniesMcKinsey & Company Inc
Best paying industryFinanceInsurance

Differences between workers' compensation claims adjuster and risk and insurance consultant education

There are a few differences between a workers' compensation claims adjuster and a risk and insurance consultant in terms of educational background:

Workers' Compensation Claims AdjusterRisk And Insurance Consultant
Most common degreeBachelor's Degree, 63%Bachelor's Degree, 67%
Most common majorBusinessBusiness
Most common collegeStanford UniversityUniversity of Pennsylvania

Workers' compensation claims adjuster vs risk and insurance consultant demographics

Here are the differences between workerss' compensation claims adjuster' and risk and insurance consultants' demographics:

Workers' Compensation Claims AdjusterRisk And Insurance Consultant
Average age4443
Gender ratioMale, 27.4% Female, 72.6%Male, 67.7% Female, 32.3%
Race ratioBlack or African American, 11.0% Unknown, 4.4% Hispanic or Latino, 16.4% Asian, 5.1% White, 62.6% 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 workers' compensation claims adjuster and risk and insurance consultant duties and responsibilities

Workers' compensation claims adjuster example responsibilities.

  • Manage OSHA logs and insure ongoing awareness for warehouse safety and risk management guidelines
  • Manage litigation, pay timely compensation, file necessary state forms timely, negotiate appropriate settlements within company assign authority.
  • Adjust complex workers' compensation claims, which include litigation management, vocational rehabilitation, medical management, and reserving practices.
  • Coordinate all medical and vocational rehabilitation services.
  • Coordinate all provide medical and vocational rehabilitation services to the catastrophically injure worker.
  • Prepare claims for hearing process order DWC.
  • 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.

Workers' compensation claims adjuster vs risk and insurance consultant skills

Common workers' compensation claims adjuster skills
  • Customer Service, 28%
  • Claim Process, 16%
  • Compensation Benefits, 12%
  • Settlement Authority, 9%
  • Data Entry, 4%
  • Litigation, 4%
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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