How much does an Insurance Risk Analyst I make in Cranston, RI? The average Insurance Risk Analyst I salary in Cranston, RI is $73,088 as of September 01, 2024, but the range typically falls between $63,542 and $84,760. 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.
What skills does an Insurance Risk Analyst I need?
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.
1.
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.
2.
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.
3.
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.
Mastering certain skills can make the compensation of an Insurance Risk Analyst I higher. Salary.com's Real-time Job Posting Salary Data provides you the latest highly compensated skills to help you get a higher pay. For example, if you master Risk Management, you can get a 15% salary raise. If you are good at Analysis, your salary will increase by 13%.If you are expert in Financial Risk, your salary will rise by 9%.
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Job Description for Insurance Risk Analyst I
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)...
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Job Openings for Insurance Risk Analyst I
in Cranston, RI
Job Description. SENIOR ANALYST, CUSTOMER PROTECTON COE. The Role. Fidelity Investments has a Senior Analyst opening that represents an outstanding opportu...
Job Description. SENIOR ANALYST, CUSTOMER PROTECTON COE. The Role. Fidelity Investments has a Senior Analyst opening that represents an outstanding opportu...
Job Description. The Role. The Technology Risk team for Green Meadows and Green Pier within Enterprise Technology Risk & Analytics (ETRA) is seeking a pass...
Job Description. Additional Information About the Role. Unit - High Risk Cardiac. FT Nights. 6:45-7:15. 36 Hours per Week. Schedule includes 6 Weekend Shif...
- 23 Days Ago
Career Path for Insurance Risk Analyst I
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.
Those that have already made the climb...
Douglas R. Bettinger, Executive Vice President and Chief Financial Officer
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper ... More
LAM RESEARCH CORP
Company Description
Fiscal Year Ended in 2023
What does an Insurance Risk Analyst I do?
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Insurance Risk Analyst I Pay Difference by Location
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.
Cranston, once known as Pawtuxet, is a city in Providence County, Rhode Island, United States. With a population of 80,529 at the 2010 census, it is the third largest city in the state. The center of population of Rhode Island is located in Cranston. Cranston is a part of the Providence metropolitan area.
Cranston was named one of the "100 Best Places to Live" in the United States by Money magazine in 2006. It is among the top 25 safest cities in the country, according to CQ Press's research. According to the survey done by 24/7 Wall St website, Cranston ranked 36th on the list of “America’s ...
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
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.
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Browse Related Job Categories With Insurance Risk Analyst I
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Take just three simple steps below to generate your own personalized salary report
Step 1 of 3
Understand the total compensation opportunity for an Insurance Risk Analyst I, base salary plus other pay elements
Average Base Salary
Core compensation
 
 
 
63542
84760
73088
Average Total Cash Compensation
Includes base and annual incentives
 
 
 
65194
90464
75588
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Risk Analyst I in Cranston, RI. The base salary for Insurance Risk Analyst I ranges from $63,542 to $84,760 with the average base salary of $73,088. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $65,194 to $90,464 with the average total cash compensation of $75,588.
About Cranston, Rhode Island Cranston, once known as Pawtuxet, is a city in Providence County, Rhode Island, United States. With a population of 80,529 at the 2010 census, it is t....More