How Do I Become an Insurance Analyst?

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  • Written By: Jessica F. Black
  • Edited By: Shereen Skola
  • Last Modified Date: 09 August 2019
  • Copyright Protected:
    Conjecture Corporation
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An insurance analyst primarily evaluates insurance applications, assesses risk, and determines insurance premiums. To become an insurance analyst, you should consider obtaining at least a bachelor's degree. Most people interested in this profession pursue a degree in business administration with a focus on insurance courses. There are several areas of the insurance field that employ analysts including property, health, or life insurance firms. Undergraduate coursework may help you choose a sub-field in the insurance industry that interests you because most degree programs cover a range of insurance courses.

A bachelor's degree program in business administration generally takes at least four years to complete, and you may be required to complete several courses in mathematics before enrolling in advanced business classes. Most degree programs may require that you complete core requirements such as financial accounting, statistics, and macroeconomics before advancing to courses in your chosen field. Field-related coursework may include introduction to insurance, commercial insurance, personal insurance, and risk assessment. Courses that focus on your intended profession may also be required to become an insurance analyst.


In addition to field-specific coursework, you may want to consider applying to an internship with an insurance firm. Experience is often required to become an insurance analyst and these opportunities usually allow you to work closely with other professionals in the field. Although the various areas within the insurance field can differ slightly, an internship may be able to familiarize you with the daily tasks performed by most analysts. Some of these tasks might include analyzing insurance reports, calculating risk, and designing insurance plans for individuals. Most internships will assign you to a mentor who may be able to better prepare you to become an insurance analyst.

The ability to analyze various aspects of insurance reports such as medical records, assets, and financial statements will be important to entering this profession. Although coursework can prepare you for some of these tasks, future employers may want to review your proficiency in a hands-on position. You may want to consider requesting recommendation letters from your mentors and internship supervisors.

Once you have completed your degree program, gained experience, and become an insurance analyst, you can begin to apply for entry-level positions in the field. Some companies that you may consider seeking employment from include health insurance firms, car insurance companies, finance firms, and life insurance solicitors. There are many commercial companies that hire insurance analysts and to broaden your search, you may want to consider researching positions on the Internet.



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