Profession insurance rating analyst

Insurance rating analysts analyse information related to insurance markets and their credit rating, prepare rating reports and invoices, compile financial data and present and explain credit rating opinions to stakeholders, clients and external parties. They work for insurance companies and calculate the insurance premium and rates for the company’s clients using both manual and automated methods.

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Personality Type

  • Conventional / Enterprising
  • Conventional / Investigative
  • Enterprising / Conventional

Knowledge

  • Actuarial science

    The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.

  • Credit control processes

    The various techniques and procedures applied to ensure that credit is given to the suitable customers and that they pay on time.  

  • Principles of insurance

    Understand the principles of insurance, including third party liability, stock and facilities.

  • Insurance market

    The trends and major driving factors in the insurance market, insurance methodologies and practices, and the identification of the major stakeholders in the insurance sector.

  • Types of insurance

    The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.

  • Insurance law

    The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.

Skills

  • Obtain financial information

    Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

  • Analyse financial risk

    Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

  • Examine credit ratings

    Investigate and look for information on the creditworthiness of companies and corporations, provided by credit rating agencies in order to determine the likelihood of default by the debtor.

  • Synthesise financial information

    Collect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.

  • Advise on financial matters

    Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.

  • Analyse loans

    Examine and analyse the loans provided to organisations and individuals through different forms of credit such as overdraft protection, export packing credit, term loan, and purchase of commercial bills.

  • Prepare credit reports

    Prepare reports which outline an organisation's likelihood of being able to repay debts and do so in a timely manner, meeting all the legal requirements linked to the agreement.

Optional knowledge and skills

debt systems review investment portfolios communicate with banking professionals forecast future levels of business perform debt investigation promote financial products advise on risk management create credit policy create cooperation modalities create underwriting guidelines modern portfolio theory consult credit score build business relationships apply credit risk policy analyse financial performance of a company advise on credit rating statistics analyse insurance risk