How To Become A Reinsurance Claims Analyst: What It Is and Career Path - Zippia (2024)

Key steps to become a reinsurance claims analyst

1. Explore reinsurance claims analyst education requirements

   If you're interested in becoming a reinsurance claims analyst, you must consider how much education you need. Based on real reinsurance claims analyst resumes, 69.2% of reinsurance claims analysts have a bachelor's degree. Regarding higher education levels, 13.8% of reinsurance claims analysts have master's degrees. Even though most reinsurance claims analysts have a college degree, it's possible to become one with only a high school degree or GED.

   Most common reinsurance claims analyst degrees

   Bachelor's

   69.2

   %

   Master's

   13.8

   See Also

   What's the Role of a Reinsurance Broker?Reinsurance Market Size In 2023 : Growth Opportunities and Future Outlook 2030

   %

   Associate

   9.4

   %

2. Start to develop specific reinsurance claims analyst skills

   Reinsurance claims analysts use a variety of skills to manage claims and premium payments, prepare financial reports, and communicate with clients. They "respond to arbitration notifications timely and achieve favorable results," "process excess of loss treaties claims and claim payments," and "reconcile financial statements and general ledger accounts recording results to management." They also "manage all aspects of reinsurance systems implementations," "monitor, process and analyze client companies reports," and "manage retained asset accounts for customers."

   Skills	Percentages
   Data Analysis	47.30%
   Surety	13.37%
   Client Accounts	6.86%
   Reconciliations	4.49%
   Reinsurance Contracts	4.36%

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3. Complete relevant reinsurance claims analyst training and internships

   Accountants spend an average of 1-2 years on post-employment, on-the-job training. New reinsurance claims analysts learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a reinsurance claims analyst based on U.S. Bureau of Labor Statistics data and data from real reinsurance claims analyst resumes.

4. Research reinsurance claims analyst duties and responsibilities

   Reinsurance claims analyst responsibilities include handling reinsurance claims, reviewing contracts, investigating claims, and processing claim payments. They also manage client accounts, reconcile financial statements, and conduct internal audits. Additionally, they may collaborate on projects, such as system implementations and business process improvements, and provide customer service. They must ensure all transactions are timely and accurate, and they must also analyze and report on data to improve process efficiency.

   • Help managed meetings regarding decision making on CMS regulations.
   • Conduct quarterly internal commutations SOX testing.
   • Ensure the privacy and security of protect health information per HIPPA requirements
   • Confirm general ledger shows all accounting transactions for given period and reconciliations are conduct.

5. Get reinsurance claims analyst experience

   Generally, it takes 4-6 years to become a reinsurance claims analyst. The most common roles before becoming a reinsurance claims analyst include claim processor, claims representative team lead and accountant.

6. Prepare your reinsurance claims analyst resume

   When your background is strong enough, you can start writing your reinsurance claims analyst resume.

   You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a reinsurance claims analyst resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

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7. Apply for reinsurance claims analyst jobs

   Now it's time to start searching for a reinsurance claims analyst job. Consider the tips below for a successful job search:

   1. Browse job boards for relevant postings
   2. Consult your professional network
   3. Reach out to companies you're interested in working for directly
   4. Watch out for job scams

How do reinsurance claims analysts rate their job?

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.