Insurance Risk Analyst at Estrada International Staffing Solutions

Salary: 600k Monthly Gross

Position Overview:

We are seeking a highly analytical and detail-oriented Insurance Risk Analyst to join our risk management team. The Insurance Risk Analyst will play a crucial role in assessing and evaluating potential risks associated with insurance policies, conducting data analysis, and providing insights that contribute to informed decision-making. The analyst will collaborate with various stakeholders to ensure effective risk mitigation strategies are in place.

Responsibilities:

1. Risk Assessment: Analyze insurance applications, claims, and underwriting data to assess potential risks. Evaluate factors such as applicant's history, coverage type, and industry trends to determine risk levels.
2. Data Analysis: Utilize statistical techniques and software tools to process and analyze large datasets related to insurance portfolios, claims history, and market trends. Identify patterns, trends, and anomalies that may impact risk assessment.
3. Modeling and Forecasting: Develop and refine risk models to predict potential losses, frequency of claims, and severity of risks. Use predictive modeling techniques to provide insights into potential scenarios.
4. Risk Reporting: Prepare detailed reports and presentations outlining risk assessment findings, data analysis results, and recommendations for risk mitigation strategies. Present complex information in a clear and concise manner.
5. Collaboration: Work closely with underwriters, actuaries, claims adjusters, and other stakeholders to provide risk insights that inform decision-making across the insurance process.
6. Regulatory Compliance: Stay updated on industry regulations and compliance requirements to ensure risk assessment practices align with legal standards.
7. Portfolio Review: Periodically review insurance portfolios to identify emerging risks and recommend adjustments to coverage and pricing based on changing market conditions.
8. Scenario Analysis: Conduct scenario analysis to assess the potential impact of various events, such as natural disasters or economic downturns, on insurance portfolios.
9. Process Improvement: Identify opportunities to enhance risk assessment processes, data collection methods, and analysis techniques to improve accuracy and efficiency.
10. Professional Development: Stay informed about industry trends, emerging technologies, and best practices in risk analysis. Seek opportunities for continuous learning and skill development.

Qualifications:

• Bachelor's degree in Risk Management, Actuarial Science, Statistics, Mathematics, or a related field. Master's degree or relevant certifications are a plus.
• Proven experience in insurance risk analysis, underwriting, or actuarial work.
• Proficiency in data analysis tools and software (e.g., Excel, SAS).
• Strong analytical skills and attention to detail.
• Excellent written and verbal communication skills for presenting complex findings.
• Knowledge of insurance products, policies, and industry regulations.
• Ability to work collaboratively in a cross-functional team environment.
• Strong problem-solving skills and the ability to think critically.
• Familiarity with statistical modeling and predictive analytics techniques.