Insurance Risk Analyst

MUST BE A US CITIZEN AND BE ABLE TO WORK ONSITE IN GLENVIEW, IL.

Storm Search is seeking an Insurance Risk Analyst for a WELL KNOWN client. You will be responsible for evaluating and managing risks related to the insurance industry, helping companies identify potential financial risks and assess the impact of insurance policies. This person will be analyzing various data points, applying risk management techniques, and recommending strategies to minimize exposure to risk while ensuring compliance with industry standards and regulations.

Key Responsibilities:

• Risk Assessment: Evaluate and identify potential risks related to insurance policies, claims, and investments by analyzing data such as historical loss trends, policyholder information, and market conditions.
• Data Analysis: Use statistical methods, financial models, and industry-specific tools to analyze risk factors and determine appropriate coverage levels for various policies.
• Risk Reporting: Prepare detailed reports and presentations that outline identified risks, potential impacts, and recommended risk management strategies to senior management and stakeholders.
• Underwriting Support: Collaborate with underwriters to ensure accurate pricing and risk selection for insurance policies, helping to balance risk exposure with profitability.
• Regulatory Compliance: Ensure compliance with local, state, and federal regulations related to insurance policies and risk management practices.
• Claims Analysis: Assess claims data and patterns to determine the risk exposure associated with different types of claims and recommend mitigation strategies.
• Loss Prevention: Work with clients to develop and implement loss prevention programs, helping them reduce risk exposure and potential financial losses.
• Risk Strategy Development: Develop and implement risk management strategies to minimize potential financial losses for the company and clients.
• Insurance Market Research: Monitor trends in the insurance market, including emerging risks, new regulations, and industry best practices to inform decision-making.
• Collaboration: Work closely with insurance agents, brokers, underwriters, and claims adjusters to provide expert risk insights and improve overall risk management processes.

Required Skills and Qualifications:

• Education: Bachelor’s degree in Risk Management, Finance, Business, Economics, or related field. Professional certifications such as ARM (Associate in Risk Management) or CPCU (Chartered Property Casualty Underwriter) are a plus.
• Experience: Previous experience in risk analysis, insurance, finance, or related field, typically 2-5 years.
• Analytical Skills: Strong ability to interpret and analyze complex data and apply risk management techniques to make informed decisions.
• Attention to Detail: Ability to identify potential risks and vulnerabilities with a high degree of accuracy.
• Communication Skills: Strong written and verbal communication skills to prepare reports, explain findings, and present recommendations to management and clients.
• Technical Skills: Proficiency in risk management software, Excel (including macros and pivot tables), and other data analysis tools.
• Problem-Solving: Ability to think critically and creatively to develop effective risk mitigation strategies.
• Knowledge of Insurance Industry: Familiarity with industry regulations, trends, and best practices in insurance risk management.