What does a Claim Analyst do?
Published 3 min read
A claim analyst is responsible for investigating, evaluating, and settling insurance claims. They work with claimants, policyholders, and insurance companies to make sure that all parties are satisfied with the outcome of the claim.
Claim Analyst job duties include:
- Research and investigate claims to determine coverage, liability, and damages
- Gather information from insureds, claimants, witnesses, medical providers, and employers
- Review police reports, medical records, bills, wage statements, and other documents
- Analyze information to evaluate the merits of a claim
- Prepare reports that summarize findings and recommend settlements
- Negotiate settlements with claimants and attorneys
- Manage a caseload of claims
- Attend mediations and settlement conferences
- Handle litigation matters such as discovery and depositions
Claim Analyst Job Requirements
A bachelor's degree in business, finance, or a related field is typically required for a claim analyst job, although some employers may prefer or require a master's degree. Certification through The American Institute for Property and Liability Underwriters (AIPLU) is also preferred or required by some employers. Prior experience in the insurance industry is generally necessary.
Claim Analyst Skills
- Communication
- Active Listening
- Writing
- Reading Comprehension
- Research
- Investigation
- Data Analysis
- Problem Solving
- Critical Thinking
- Time Management
- Organizational Skills
- Multitasking
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How to become a Claim Analyst
A claim analyst is someone who reviews insurance claims and decides whether or not they are valid. To become a claim analyst, you will need to have at least a bachelor’s degree in business, insurance, or a related field. Many claim analysts also have law degrees.
You will need to be able to understand and interpret insurance policies, as well as have strong analytical and research skills. You must be able to pay close attention to detail and have excellent communication skills, as you will be dealing with both insurance adjusters and policyholders.
Claim analysts typically work for insurance companies, but there is also a growing demand for them in the legal field. If you are interested in becoming a claim analyst, contact your local insurance companies and inquire about job openings. You can also look online for job postings.
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