Profession insurance risk consultant

Insurance risk consultants prepare reports for insurance underwriters. For this purpose, they undertake surveys in order to determine the potential financial risk for personal products, properties or sites.

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Personality Type

  • Conventional / Enterprising
  • Enterprising / Conventional

Knowledge

  • 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.

  • Actuarial science

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

  • Survey techniques

    Techniques on how to identify a target audience, choose the right survey method and analyse the data.

  • 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.

  • Principles of insurance

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

Skills

  • Obtain financial information

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

  • Prepare survey report

    Gather the analysed data from the survey and write a detailed report on the outcome of the survey.

  • Advise on risk management

    Provide advice on risk management policies and prevention strategies and their implementation, being aware of different kinds of risks to a specific organisation.

  • 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.

  • Conduct financial surveys

    Conduct the procedures of a financial survey from the initial formulation and compilation of the questions, identifying the target audience, managing the survey method and operations, managing the processing of acquired data, to analysing the results.

  • Analyse insurance risk

    Analyse the probability and size of the risk that is to be insured, and estimate the value of movable or immovable property of the client.

  • Estimate damage

    Estimate damage in case of accidents or natural disasters.

  • Perform risk analysis

    Identify and assess factors that may jeopardise the success of a project or threaten the organisation's functioning. Implement procedures to avoid or minimise their impact.

Optional knowledge and skills

modern portfolio theory decide on insurance applications claims procedures synthesise financial information perform debt investigation produce materials for decision making collect property financial information create insurance policies debt systems organise a damage assessment calculate insurance rate review insurance process create underwriting guidelines statistics provide support in financial calculation apply statistical analysis techniques create risk maps compile statistical data for insurance purposes