Looking for a new job with the best pay in Property Casualty Insurers? Look no further. We’ve compiled a list of the best paying jobs in Property Casualty Insurers and how much you could expect to make in each one. While we can’t guarantee that you’ll get your dream job, it’s worth applying for one or two of these positions and seeing what happens!
Best Paying Jobs In Property Casualty Insurers
1. Actuary
Actuaries are the number crunchers of the insurance world. Their job is to analyze risk and pricing insurance products, and they can work in any industry that offers insurance coverage. Actuaries must have a strong background in mathematics and statistics, which makes it easier for them to do their jobs—but it’s not required for entry-level positions.
For example, an actuary working for an insurance company needs to know how much money people will pay into their policies over time so they can set a price accordingly; one who works for a government agency would need expertise in predicting population growth or climate change; while someone working independently might specialize in calculating premiums based on life expectancy data from specific populations (say, Chinese Canadians).
2. Chief Risk Officer (CRO)
CRO jobs are in high demand, and they pay well. But what exactly do they do, and how much can you expect to make?
If you’re interested in becoming a Chief Risk Officer (CRO), it helps to know what the job entails. A CRO oversees all aspects of risk management at an insurance company, including product development and implementation, loss control services (e.g., training employees on safety best practices), conducting research on new products or initiatives that may present risks to the company’s financial health—and then communicating those findings back down through the pipeline so stakeholders can make informed decisions about implementing them.
According to Glassdoor data for May 2019:
- The median base salary for a CRO is $239K per year; this figure includes any bonuses or other forms of compensation
3. Claims Adjuster
Claims adjusters are the people who investigate insurance claims and determine their validity. If your car is damaged in an accident, you’ll speak to a claims adjuster from the insurance company who will evaluate your claim and decide if you’re owed money for repairs.
Claims adjusters may conduct interviews with witnesses, inspect the physical evidence of a claim like vehicles involved in an accident, or tour crime scenes as part of their investigation. They also have to examine medical records and bills related to injuries suffered by victims of crimes such as assault or vandalism.
The job outlook for claims adjusters is projected to grow 30 percent through 2026 according to the BLS—a faster than average rate compared with most occupations–due largely in part due to increasing demand for personal lines property/casualty insurance policies which means more people should be filing claims so it’s good news all around!
Salaries vary widely depending on where you live but it’s easy math: The higher cost-of-living areas pay more money per hour than lower cost-of living areas so even though this job offers a median salary of $45k per year I’d still recommend taking it because unless you live somewhere like Wyoming there’s probably not much competition out there anyways so how hard could it be?
4. Agency Manager at Property Casualty Insurers
In the insurance industry, an agency manager is a senior-level role responsible for managing the operations of an insurance agency. Agency managers oversee all aspects of their company’s business operations including:
- Managing staff in sales and marketing departments.
- Constantly monitoring market trends to ensure that premiums are competitive with those offered by competitors within the same region or sector.
- Ensuring that client needs are met through continuous communication between clients and agents/brokers (or their representatives).
5. Executive Vice President (EVP) of Operations and Technology
The executive vice president (EVP) of operations and technology is a high-ranking position in property casualty insurance companies. This person oversees the company’s operational and technological functions, such as IT, claims processing, risk management and compliance. The EVP must have strong leadership skills and the ability to manage large groups of people effectively.
He or she must also be able to identify emerging technologies that can provide new ways for the company to do business more efficiently or generate more revenue. An advanced degree in business administration is required for this position, as well as extensive experience at other insurance firms or other companies in related industries. A bachelor’s degree may suffice if you have many years of experience within the industry but lack an advanced degree qualification.
In addition to formal education requirements, it is important that candidates have excellent communication skills with top executives throughout their organization because they will often report directly back up through layers of management until reaching someone who reports directly into top executives within their organization
6. Broker at Property Casualty Insurers
The broker is the highest-paid job in property casualty insurance. Brokers are in charge of selling insurance policies, and they’re responsible for the sales process. They’re also responsible for customer service, marketing, product development and management.
In fact, brokers handle all aspects of their business except underwriting (the process of determining if an applicant should be insured). The vast majority of brokerages are small businesses with fewer than 100 employees.
7. Insurance Agent at Property Casualty Insurers
Insurance agents play a vital role in the insurance industry. They assist customers in understanding the terms and conditions of different types of policies and help them choose a policy that best suits their needs. Insurance agents also educate clients about how to make claims, what to do if they are involved in an accident or when their policy is breached.
While you may hear some people refer to an insurance broker as an agent, these two terms are not interchangeable; while both may sell insurance products such as car or life policies, only licensed agents can sell property casualty (PC) products like homeowners’ insurance.
If you have good communication skills and enjoy dealing with people on a daily basis, this could be the right job for you! There are many benefits associated with being an insurance agent including:
- A flexible schedule: Many industries require employees to work long hours during busy periods but this doesn’t apply if you’re working as an independent contractor or self-employed individual; instead of working 9am – 5pm Monday through Friday like many other professions do in order maintain some semblance of stability at home/work balance levels throughout your career trajectory (which often leads over time).
8. Product Development Engineer
Product development engineers are responsible for designing and testing new products, such as new types of insurance policies. They may also develop new methods to test the safety of the product or improve its efficiency.
Examples of some products they might create include:
- Auto insurance policies with lower premiums but higher deductibles
- Health insurance plans that offer more coverage at an affordable price
- Homeowners’ policies that include flood coverage and earthquake coverage
Skill Requirements:
Product development engineers need excellent critical thinking skills as well as strong communication skills. They should be able to think creatively and come up with original solutions to problems while considering all possible consequences.
Minimum Education Requirements: Most employers require a bachelor’s degree in engineering or business administration; however, some employers will accept a 4-year degree in mechanical engineering or computer science instead.
9. Senior Underwriter at Property Casualty Insurers
Senior Underwriter is a highly-skilled and well-compensated position in property casualty insurance. The responsibilities of this job include overseeing and managing the work of junior underwriters, as well as determining the appropriate premium for policies. Senior Underwriter must also ensure that the policy is in compliance with applicable laws and regulations, as well as with company guidelines.
10. Loss Control Specialist
A loss control specialist, also known as a claims adjuster, is responsible for evaluating damage to property and determining the cause of the incident. Loss control specialists also determine whether there was any negligence on behalf of the victim or perpetrator that led to the incident.
For this job, you need a bachelor’s degree in business administration or a related field. You may be required to pass an exam after you graduate from college.
On average, loss control specialists earn $33 per hour and can make over $53,000 annually.
11. Product Manager at Property Casualty Insurers
As a product manager at a property casualty insurer, you will be responsible for creating and running the new products that the company offers. You’ll also be in charge of testing out your ideas on the market to see what works best.
This role requires strong analytical skills and an ability to problem solve effectively. It also demands excellent communication skills, as you will be working closely with many different departments within your company—from sales and marketing to data science—and must be able to communicate effectively with each of them in order to make sure that every aspect of your product launch goes off without a hitch.
Product managers typically earn between $100,000 and $250,000 annually. The minimum requirements include being able to manage multiple projects simultaneously while keeping track of all relevant deadlines; having experience launching successful products or managing teams; knowing how analytics can help drive those launches forward; being familiar with related technologies such as artificial intelligence (AI) or machine learning techniques; being able to understand complex computer programming languages like Java code; having knowledge about emerging technology markets such as wearables/Internet-of-Things devices/smart home appliances; possessing knowledge about insurance policies offered by competitors such as Allstate Insurance Company or Farmers Insurance Group
12. Vice-President (VP), Marketing and Sales at Property Casualty Insurers
The VP of marketing and sales at a property casualty insurer is responsible for creating and implementing the company’s marketing strategy. They also work with sales teams to ensure they have the tools they need to succeed, including training programs, support materials, and sales aids.
In addition to these roles, VPs of marketing at this level may also be responsible for brand development or overseeing public relations efforts—or both! Each insurance company has a different set up when it comes to senior management positions like this one.
13. Regional Vice President (RVP) of Operations and Technology
Regional Vice President (RVP) of Operations and Technology
A Regional Vice President is the second-highest position within a property and casualty insurance company, with direct responsibility for a number of departments.
The duties of an RVP include:
- Managing field operations for all lines of business in their region.
- Developing new strategies and policies to ensure growth within the region.
- Ensuring that all branches are compliant with state laws, as well as federal regulations such as SOX (Sarbanes-Oxley Act) or GLBA (Gramm-Leach-Bliley Act).
The average salary for this position is $180k per year. This amount can vary depending on whether you work in New York or Montana; obviously, New York pays more than Montana does! There are no specific education requirements for becoming a regional vice president—it’s mostly based on experience and the size of your company—but it helps if you have a degree in business administration or another related field if possible because most employers prefer candidates who have worked within insurance companies before moving into this role
14. Insurance Advisor / Insurance Consultant / Insurance Services Representative
An insurance advisor is a professional that helps people choose the best insurance policy for them, whether it be life, auto, or health. Insurance advisors must have an in-depth understanding of their product and how it works to accurately advise clients on what they need to protect themselves.
What Does An Insurance Advisor Do?
An insurance advisor will meet with individuals or groups of clients in order to discuss their needs and make recommendations as to which policies are best suited for each customer’s situation. They also assist customers with filling out paperwork and explaining any questions they may have about their new coverage plans.
15. Marketing Manager at Property Casualty Insurers
A marketing manager at property casualty insurers is responsible for the overall marketing strategy and its implementation. Marketing managers are responsible for the communication of the company’s message to its customers, which includes all advertising and promotional efforts. In addition, they must create and implement marketing campaigns that sell products or services to both existing and potential clients.
16. Underwriter at Property Casualty Insurers
Underwriters, as their name suggests, are responsible for assessing the risk of insuring an individual or business. As a result, they often set insurance premium prices and policy limits for their clients.
Underwriters also play a crucial role in setting insurance policy terms and conditions, such as deductibles and coverage limits. For example, underwriters may determine how much money an insurer will pay to replace stolen items after a burglary at your house or apartment building (your property) while you’re away on vacation; this amount is known as “replacement cost coverage.”
Check out these great insurance jobs.
- Actuary
- Claims Adjuster
- Underwriter
- Customer Service Representative
- Insurance Agent
Conclusion
The insurance industry is a great place to find a job that can provide for you and your family. Many of the jobs listed above are well-paying, secure positions that offer job security and benefits. If you’re looking for an industry with plenty of opportunities in a wide range of specialties, then look no further than property & casualty insurance.