Best Paying Jobs in Property-Casualty Insurers

Updated on February 5, 2024

Property-casualty insurance is a dynamic and lucrative field, offering a variety of well-paying career opportunities. Here’s a look at the top ten roles within this industry.

1. Risk Control Manager

  • Average Salary: $139,790
  • Job Description: Oversees risk evaluation and strategizes risk reduction.
  • Responsibilities: Identifying and assessing risks, ensuring compliance with laws and regulations.
  • Education: Bachelor’s degree.

2. Chief Actuary

  • Average Salary: $116,500 – $137,000
  • Job Description: Uses statistical analysis and mathematical modeling for financial risk calculation.
  • Responsibilities: Risk strategy development.
  • Education: Background in mathematics, statistics, or finance, often with an actuarial designation.

3. Claims Manager

  • Average Salary: Up to $107,000
  • Job Description: Manages client interactions for filing claims.
  • Responsibilities: Assisting clients in claim filing, stress management.
  • Education: Relevant experience in the insurance industry.

4. Underwriting Director

  • Average Salary: $169,232 – $222,649
  • Job Description: Leads the underwriting department.
  • Responsibilities: Setting underwriting guidelines and policies, risk management.
  • Education: Bachelor’s degree in business, economics, or finance, may also have an actuarial designation or CPA.

5. Vice President of Marketing

  • Average Salary: $249,013 – $319,993
  • Job Description: Develops and implements marketing strategies.
  • Responsibilities: Leading marketing campaigns, tracking results.
  • Education: Experience in marketing, advertising, or public relations.

6. Insurance Brokers

  • Average Salary: $86,710
  • Job Description: Negotiates policy terms on behalf of clients.
  • Responsibilities: Finding optimal policy combinations for clients.
  • Education: Varies, often requires state certification.

7. Actuary

  • Average Salary: Varies
  • Job Description: Calculates risks associated with policies.
  • Responsibilities: Research and statistical analysis.
  • Education: Background in statistics or a related field.

8. Claims Adjuster

  • Average Salary: $72,040
  • Job Description: Evaluates and settles insurance claims.
  • Responsibilities: Inspecting damages, evaluating claims.
  • Education: High school diploma, relevant experience.

9. Insurance Claims Examiner

  • Average Salary: $61,600
  • Job Description: Reviews insurance claims for accuracy.
  • Responsibilities: Supporting claims adjusters, ensuring adherence to guidelines.
  • Education: High school diploma, relevant experience.

10. Cost Estimator

  • Average Salary: $71,200
  • Job Description: Estimates costs in insurance claims.
  • Responsibilities: Collecting and analyzing data for cost estimation.
  • Education: Bachelor’s degree.

Final Thoughts

The property-casualty insurance sector is not just financially rewarding but also offers diverse career paths. From risk control to claims management and actuarial roles, there is a range of opportunities for individuals with various educational backgrounds and skill sets. These roles not only provide attractive salaries but also the chance to play a critical role in one of the most important aspects of the financial services industry.

Other Jobs in Finance and Banking

Sources

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Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.