Become a Claims Analyst: Education and Career Roadmap

Should I Become a Claims Analyst?

Claims analysts share some of the same job duties as claims adjusters, investigators and examiners. However, the primary responsibility of claims analysts is to assess and review claims after they have been made to ensure the adherence of company guidelines. Analysts then decide if the claim should be accepted or denied. Although many claims analysts work for large insurance companies, there are available job opportunities in a variety of fields. Many work hours might be spent seated at a desk in this occupation.

Career Requirements

Degree Level Minimum of a high school diploma; some employers may prefer a bachelor's degree
Degree Fields Varies, depending on industry; possible options include business or management
Licensure Varies; any licensure requirements will vary by state and/or position
Experience Related experience typically recommended, but not required
Key Skills Strong communication, organizational and analytical skills, multitasking proficiency, comprehensive knowledge of Microsoft Office and related software, such as those used for enterprise resource planning, financial analysis and document management, and the ability to maintain confidentiality
Salary (2014) $62,220 (median salary for all claims adjusters, examiners and investigators)

Sources: job postings by employers (August 2015), U.S. Bureau of Labor Statistics (BLS).

Step 1: Consider Earning a Bachelor's Degree

While there are no formal education requirements for individuals who want to become claims analysts, an undergraduate degree in business may be helpful. A person often learns about the job by completing a period of company training. Depending on the type of work, however, some employers (such as insurance companies) may prefer applicants who have a bachelor's degree.

Other possible majors include engineering, finance or legal studies. A background in engineering can help a claims analyst assess the validity of an industrial claim that resulted in the loss of equipment or a building. A background in law could be relevant for cases that involve product liability or worker's compensation.

Step 2: Complete On-the-Job Training

Most claims analysts further develop their skills and/or enter the field by completing a period of on-the-job training. This training may involve working with a supervisor on a series of claims. For example, an auto claims analyst works on small claims and estimates the costs of damages while being assisted by a supervisor. Once the supervisor feels that a claims analyst understands the responsibilities of the position, he or she may allow the trainee to work unsupervised. The training period can last for several months but may be shorter for trainees who progress quickly.

Step 3: Continue Your Education

A license isn't typically necessary for the claims analyst position, but individuals should check with their employer. Claims analyst should stay up-to-date on laws and practices that deal with their specialty area. Medical claims analysts must be knowledgeable about any changes in laws that directly affect how a medical claim is handled. They also have to be aware of new medical procedures and drugs. Similarly, an auto claims analyst must be familiar with new techniques of repairing an automobile and the costs that are involved.

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