How much does an Insurance Risk Analyst I make in Maine? The average Insurance Risk Analyst I salary in Maine is $67,415 as of March 26, 2024, but the range typically falls between $58,583 and $78,433. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.
Percentile | Salary | Location | Last Updated |
10th Percentile Insurance Risk Analyst I Salary | $50,542 | ME | March 26, 2024 |
25th Percentile Insurance Risk Analyst I Salary | $58,583 | ME | March 26, 2024 |
50th Percentile Insurance Risk Analyst I Salary | $67,415 | ME | March 26, 2024 |
75th Percentile Insurance Risk Analyst I Salary | $78,433 | ME | March 26, 2024 |
90th Percentile Insurance Risk Analyst I Salary | $88,464 | ME | March 26, 2024 |
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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.
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. Collaborates with cross-functional teams to ensure reporting and processing of all policy audits, payments, claims, and renewals. Additionally, Insurance Risk Analyst I supports loss prevention and safety initiatives. Requires a bachelor's degree. Typically reports to a supervisor or 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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Location | Avg. Salary | Date Updated |
---|---|---|
Location Saco, ME | Avg. Salary $68,385 | Date Updated March 26, 2024 |
Location Windham, ME | Avg. Salary $68,454 | Date Updated March 26, 2024 |
Location Abbot, ME | Avg. Salary $65,683 | Date Updated March 26, 2024 |
Location Acton, ME | Avg. Salary $70,117 | Date Updated March 26, 2024 |
Location Addison, ME | Avg. Salary $65,683 | Date Updated March 26, 2024 |
Location Albion, ME | Avg. Salary $65,683 | Date Updated March 26, 2024 |
Location Alfred, ME | Avg. Salary $69,771 | Date Updated March 26, 2024 |
Location Alna, ME | Avg. Salary $67,831 | Date Updated March 26, 2024 |
Location Andover, ME | Avg. Salary $67,831 | Date Updated March 26, 2024 |
Location Anson, ME | Avg. Salary $65,683 | Date Updated March 26, 2024 |
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:
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 Risk Analyst I | Experience 0 - 2 | EducationBachelors | Salary Compared to This Job |
Job Title Risk Analyst II | Experience 2 - 4 | 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.
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.
About Maine To the south and east is the Atlantic Ocean and to the north and northeast is New Brunswick, a province of Canada. The Canadian province of Quebec is ....More
Skills associated with Insurance Risk Analyst I: Risk Identification Model, Data Modeling, Coverage Evaluation, Data Analytics ...More
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