How much does an Insurance Risk Analyst I make in Alamance, NC? The average Insurance Risk Analyst I salary in Alamance, NC is $65,285 as of August 27, 2024, but the range typically falls between $56,758 and $75,710. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Percentile | Salary | Location | Last Updated |
10th Percentile Insurance Risk Analyst I Salary | $48,995 | Alamance,NC | August 27, 2024 |
25th Percentile Insurance Risk Analyst I Salary | $56,758 | Alamance,NC | August 27, 2024 |
50th Percentile Insurance Risk Analyst I Salary | $65,285 | Alamance,NC | August 27, 2024 |
75th Percentile Insurance Risk Analyst I Salary | $75,710 | Alamance,NC | August 27, 2024 |
90th Percentile Insurance Risk Analyst I Salary | $85,202 | Alamance,NC | August 27, 2024 |
Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Risk Management: Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.
Installation: The action or process of installing someone or something, or of being installed. the act of installing the state of being installed, something that is installed for use.
Business Operations: The outcome of business operations is the harvesting of value from assets owned by a business. Assets can be either physical or intangible. An example of value derived from a physical asset, like a building, is rent. An example of value derived from an intangible asset, like an idea, is a royalty. The effort involved in "harvesting" this value is what constitutes business operations cycles.
Skill | Salary | Demand |
---|---|---|
Risk Management
|
$75,077 |
15%
|
Analysis
|
$73,772 |
13%
|
Financial Risk
|
$71,160 |
9%
|
Initiative
|
$71,160 |
9%
|
Underwriting
|
$70,508 |
8%
|
Written Communication
|
$67,896 |
4%
|
What Should I Pay?
Insurance Risk Analyst I analyzes the insurance needs of an organization to provide optimum coverage, costs, and claim settlements. Collects, classifies, and analyzes data from multiple sources such as audits, claims, renewals, and financial reporting. Being an Insurance Risk Analyst I creates risk forecasting models and reporting using business intelligence tools. Evaluates insurance proposals and makes recommendations. Additionally, Insurance Risk Analyst I negotiates insurance premiums and coverage terms directly with insurance companies and/or through brokers. Collaborates with cross-functional teams to ensure reporting and processing of all policy audits, payments, claims, and renewals. Supports loss prevention and safety initiatives. Reviews insurance policies for accuracy and works with brokers and underwriters to resolve discrepancies. Requires a bachelor's degree. Typically reports to a manager. The Insurance Risk Analyst I work is closely managed. Works on projects/matters of limited complexity in a support role. To be an Insurance Risk Analyst I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description
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A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.
For Insurance Risk Analyst I, the first career path typically progresses to E-commerce Risk Director.
The second career path typically progresses to Environmental Risk Management Specialist.
The third career path typically starts with an Insurance Risk Analyst II position, and then progresses to Insurance Risk Analyst IV.
Additionally, the fourth career path typically starts with a Risk Analyst II position, and then progresses to Risk Analyst IV.
Salary.com's CompAnalyst platform offers:
Insurance Risk Analyst I salary varies from city to city. Compared with national average salary of Insurance Risk Analyst I, the highest Insurance Risk Analyst I salary is in San Francisco, CA, where the Insurance Risk Analyst I salary is 25.0% above. The lowest Insurance Risk Analyst I salary is in Miami, FL, where the Insurance Risk Analyst I salary is 3.5% lower than national average salary.
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Job Title | Experience | EDUCATION | Salary Compared to This Job |
---|---|---|---|
Job Title Insurance Risk Analyst II | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Analyst III | Experience 4 - 7 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Analyst IV | Experience 7 + | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Analyst V | Experience 10 + | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Risk Manager | Experience 5 + | EducationBachelors | Salary Compared to This Job |
Jobs with different levels of education may pay very differently. Check the Insurance Risk Analyst I salary of your education level.
Insurance Risk Analyst I salary varies from country to country. There are several factors that mainly impact the Insurance Risk Analyst I salary, including cost of living, economic conditions, market rates and legal differences. Click below to Insurance Risk Analyst I salary of the other country.
A job category is a classification or grouping of job positions that share similar characteristics, functions, or industries. Insurance Risk Analyst I salary varies from category to category. Click below to see Insurance Risk Analyst I salary in different categories.
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About Alamance, North Carolina Alamance is a village in Alamance County, North Carolina, United States. It is part of the Burlington, North Carolina Metropolitan Statistical Area. T....More
Alamance, North Carolina area prices were up 1.5% from a year ago View the Cost of Living in Alamance, North Carolina
Insurance Risk Analyst I Salary in popular cities: Charlotte, Raleigh, Greensboro
Skills associated with Insurance Risk Analyst I: Insurance Products, Risk Control, Claim Settlement Policies, Data Modeling ...More
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