Insurance Department Job Description

March 19, 20120 Comments

Insurance department job profile and description

Insurance department offers with a vast variety of insurance jobs like insurance sakes agent, insurance analyst, insurance consultant, insurance broker, insurance underwriter, insurance claims clerk, insurance advisor and insurance account manager to name a few. Each job entails its own duties and responsibilities. Every job in the insurance department has specific duties. However, they all work towards the same goal of ensuring that the insurance matters of the state are carried out properly and according to the specified laws.

Insurance department job duties and responsibilities

The duties and responsibilities of an employee in the insurance department are:

  • Communicating with different insurance companies and keeping track of claim payments and insurance premium collections
  • Keeping a check on insurance companies and brokers and ascertaining that they are functioning in accordance with the rules and regulations of the insurance department
  • Dealing with international insurance matters like international insurance budget and international premiums and subsidies
  • Keep regularly reviewing reports prepared by actuaries
  • Dealing with international insurance claims

Insurance department skills and specifications

The skills and specifications required for a job in the insurance department are:

  • Good written and verbal communication skills and analytical knowledge
  • A thorough and up to date knowledge about insurance laws and regulations
  • A sound knowledge about the policies offered by different companies
  • A keen eye for detail in order to spot minor miscalculation in insurance reports
  • A sound knowledge of mathematics, statistics, probability and computer applications
  • A good knowledge and understanding of international insurance laws
  • Troubleshooting ability

Insurance department education and qualifications

The education and qualifications required for every job in the insurance department are different.

  • For high level jobs like managers a graduation or post graduation degree in finance and management is required along with insurance studies
  • A course in risk management is an added advantage
  • For clerks, a degree or diploma in accounting and finance is essential

Insurance department job salary

An employee in the insurance department can earn between $36k and $75k. For managers and senior analysts, salaries may go up to $90,000 per annum.

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