How much does an Insurance Risk Analyst III make in the United States? The average Insurance Risk Analyst III salary in the United States is $101,062 as of April 24, 2024, but the range typically falls between $88,382 and $114,305. 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. 

Insurance Risk Analyst III Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Insurance Risk Analyst III Salary $76,838 US April 24, 2024
25th Percentile Insurance Risk Analyst III Salary $88,382 US April 24, 2024
50th Percentile Insurance Risk Analyst III Salary $101,062 US April 24, 2024
75th Percentile Insurance Risk Analyst III Salary $114,305 US April 24, 2024
90th Percentile Insurance Risk Analyst III Salary $126,363 US April 24, 2024
25% $88,382 10% $76,838 90% $126,363 75% $114,305 $101,062 50%(Median) Didn’t find job title? Click
Change Search Criteria

What skills does an Insurance Risk Analyst III 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.

Life Insurance: Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period

3.

PowerPoint: A computer software created by Microsoft which allows the user to create slides with recordings, narrations, transitions and other features in order to present information.

Risk Management 18.52%
Life Insurance 1.85%
PowerPoint 1.85%
Others 77.78%

Job Description for Insurance Risk Analyst III

Insurance Risk Analyst III 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 III creates risk forecasting models and reporting using business intelligence tools. Evaluates insurance proposals and makes recommendations. Additionally, Insurance Risk Analyst III 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 III work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. To be an Insurance Risk Analyst III typically requires 4-7 years of related experience. (Copyright 2024 Salary.com)... View full job description

Employers: Job Description Management Tool

See user submitted job responsibilities for Insurance Risk Analyst III.

Salary.com job board provides millions of Insurance Risk Analyst III information for you to search for. Click on search button below to see Insurance Risk Analyst III job openings or enter a new job title here.

Job Openings for Insurance Risk Analyst III
  • The IT Risk team functions include assessing and mitigating risk through internal risk assessments and risk assessments for 3rd party vendors, providing cl...
    - 1 Day Ago
  • Looking for: Insurance Risk Analyst. Job Type: Full time. Location: Chicago, Illinois - Hybrid model. What You ll do. We are seeking a highly motivated ind...
    - 3 Days Ago
  • Job Title: Business Analyst III (Insurance). Job Type: Contract. Job Location: Alpharetta, GA – Hybrid 3 days onsite. A global insurance company is seeking...
    - 3 Days Ago
  • The J.R. Simplot Company is a diverse, privately held organization, with roots firmly planted in agriculture and agriculture-related businesses. The J.R. S...
    - 1 Day Ago
  • Innova Solutions is immediately hiring for an Information Security Analyst. Position type: Full-time | Contract to Hire. Duration: 12 months. Location. New...
    - 1 Day Ago

Career Path for Insurance Risk Analyst III

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 III, the first career path typically progresses to E-commerce Risk Director.

The second career path typically starts with an Insurance Risk Analyst IV position, and then progresses to Insurance Risk Analyst V.

The third career path typically starts with a Risk Analyst IV position, and then progresses to Risk Analyst V.

Additionally, the fourth career path typically progresses to Workers' Compensation Claims Manager.

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
Fiscal Year Ended in 2023
Not the job you're looking for? Search more salaries here:
See if your skills match up? Check skills for Insurance Risk Analyst III

Are you an HR manager or compensation specialist?

Salary.com's CompAnalyst platform offers:

  • Detailed skills and competency reports for specific positions
  • Job and employee pricing reports
  • Compensation data tools, salary structures, surveys and benchmarks.
Learn about CompAnalyst

Insurance Risk Analyst III salary varies from city to city. Compared with national average salary of Insurance Risk Analyst III, the highest Insurance Risk Analyst III salary is in San Francisco, CA, where the Insurance Risk Analyst III salary is 25.0% above. The lowest Insurance Risk Analyst III salary is in Miami, FL, where the Insurance Risk Analyst III salary is 3.5% lower than national average salary.

City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 25.0%
City, State Washington, DC Compared to national average
+ 11.3%
City, State Miami, FL Compared to national average
-3.5%
City, State Chicago, IL Compared to national average
+ 4.9%
City, State Boston, MA Compared to national average
+ 12.1%
City, State New York, NY Compared to national average
+ 16.8%
City, State Dallas, TX Compared to national average
-1.3%

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 III, base salary plus other pay elements

Average Base Salary

Core compensation

 
 
 
88382
114305
101062

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
92992
123133
107312
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Risk Analyst III in the United States. The base salary for Insurance Risk Analyst III ranges from $88,382 to $114,305 with the average base salary of $101,062. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $92,992 to $123,133 with the average total cash compensation of $107,312.
Step 2 of 3

Discover how your pay is adjusted for skills, experience, and other factors

How much should you be paid?

For a real-time salary target, tell us more about your role in the four categories below.

88382
114305

 

Step 3 of 3

How much should you be paid?

View the Cost of Living in Major Cities

Skills associated with Insurance Risk Analyst III: Insurance Products, Financial Risk Management Software, Coverage Evaluation, Risk Control ...More

Recently searched related titles: Materials Research Engineer, Workday Integrations Consultant

Salary estimation for Insurance Risk Analyst III at companies like : TechSkills of California, Bixby Center for Global Reproductive Health I UCSF, VEF INTERNATIONAL Inc

Jobs with a similar salary range to Insurance Risk Analyst III : It Project Consultant

Insurance Risk Analyst III Salary in United States
Insurance Risk Analyst III Salary Graph, Regional Distribution and Summary