Automotive companies will say the same as the two are interchangeable. The insurance industry offers several lucrative jobs that employ transferrable skills and knowledge in an environment that promotes growth with high rewards. On your first day, you’ll be learning the industry terminology and then working to solve some of its biggest challenges down the road. Additionally, there are more front-line positions as opposed to backbone ones. Rather than working at headquarters, you can work at a location as an agent and be face-to-face with clients. That’s another great aspect of work in the car insurance business; there is a job for every type of person. This post looks at some of the most lucrative jobs in car insurance.
Car Insurance Claims Clerk
The claims clerk’s primary job is to oversee the documentation when new car insurance claims come in. Additional responsibilities include processing changes to existing policies and reviewing new ones before approval. Before claim settlements are made final, the last inspection is made by the claims clerk. The average salary for a car insurance claims clerk is about $39,882.
Car Insurance Claims Investigator
Another important role to fill in the car insurance claims process is the claims investigator. They are in charge of validating a car insurance claim from fraud. This process includes looking at statements, interviews with those involved, and any evidence and documentation with photos or videos. In some cases, they will have to access personal information and background checks for legitimacy. If car insurance fraud is discovered on a claim, then the claims investigator will have to testify in court. The average salary for a car insurance claims investigator is about $45,324.
Car Insurance Adjuster
Another car insurance employee taking part in claims processing would be the insurance adjuster. Their primary task is to survey the damage, in this case, its damage resulting from a car accident, and calculate how much the car insurance provider will pay out in accordance with the insured’s policy. This can involve interviewing the person who filed the claim, looking at police reports, and preparing the report of the claim itself. The average salary for a car insurance adjuster is around $55,276.
Car Insurance Agent
A marketing-orientated position in car insurance is an agent role. They are the ones responsible for finding and selling coverage to new customers. Car insurance agents also help update existing customers’ policies. Being an agent also involves expertise when making recommendations for managing a customer’s risk. They’ll also have to keep track of policyholders’ claims. Other sales responsibilities include cold calling and attending networking industry events. The average salary for a car insurance agent is around $57,104.
Car Insurance Broker
Another marketing-based position in car insurance is being an insurance broker. These companies and individuals serve as a liaison between a policyholder and their insurance companies because they are the ones who connect the two. Brokers also spearhead marketing campaigns to draw clients in. Based on their insurance needs, the job of finding them an adequate provider starts here. They also offer claims advising services, so it is also a matter of industry expertise. The average salary for a car insurance broker is around $67,031.
Car Insurance Underwriter
When a new customer is interested in car insurance, the underwriter will oversee the creation of their policy. Every car insurance policy is personalized, so no two are ever the same. The main duties of a car insurance underwriter are to reflect the policyholder’s risks and coverage in the policy along with looking at their personal information such as driving records and even credit scores. Of course, the car insurance underwriter gets the final say on whether or not the policyholder has been denied coverage. The average salary for a car insurance underwriter is around $79,235.
Car Insurance Actuary
In the insurance business, an actuary is a person who is responsible for calculating premiums and assessing how much the insurance company will need to pay out in the event of a claim. Car insurance companies have actuaries, too, for this exact purpose. The predictions they make can help determine how much a policyholder pays for auto coverage. This involves some research and significant industry knowledge. The average salary for a car insurance actuary is around $115,221.
Car Insurance Risk Manager
Another values insurance position is a risk manager who is responsible for identifying and evaluating the risks of policyholders. This requires some industry and market knowledge as it requires staying in the loop about industry trends and techniques. When a new initiative is rolled out, it is the risk manager that is overseeing it. The average salary for a car insurance risk manager is around $118,601.