Data and Analytics Careers
Are you an analytical person, someone who likes to dive deep into data to find trends and answers? Maybe a person who likes computer coding? If so, risk management and insurance have tremendously growing needs for data scientists, data analysts, and developers.
Job Description
Data analytics is essential to most modern businesses, but in insurance, it’s crucial for assessing risk, forecasting claims, developing new products, and providing the best customer experience. You might even call insurance the original data career field.
As a data professional in risk management and insurance, you can help find trends and develop solutions that create safer vehicles, workplace practices, buildings, and more. Your work in these areas helps to reduce risk and save lives. Professionals in data and technology roles support companies in a variety of other ways as well — including fraud detection, risk assessments, customer segmentation, dynamic pricing models, customized product development, and more.
You’ll work with everything from telematics devices in cars to track driver behavior and set more accurate car insurance rates to the vast stores of data created by the Internet of Things. Maybe you’ll even create new technologies that contribute to predicting and preventing accidents!
Required Skills
It’s not just crunching numbers. In all data analytics jobs, the essential task is looking at data and using technology and human insight to discover patterns and trends that can create predictive models and effect positive change.
- Data analysis
- R coding language
- Python coding language
- Machine learning
- Creative insight
Degree Required?
Yes
An undergraduate degree in data science, mathematics, statistics, computer science, or engineering is preferable. Some coursework in risk management and/or insurance can help jump-start a data analytics career in risk management and insurance.
Additional Education
Most data analysts have master’s degrees, and many pursue doctorates. There are also several opportunities to better understand the field so you can combine your data knowledge with risk management and insurance knowledge. You may want to consider earning your Associate in Insurance Data Analytics (AIDA) designation as your career progresses.
Preferred Previous Experience
New graduates with data science or related degrees often are hired as junior or associate data analysts and earn promotion with experience and demonstrated talent.
Earning Potential: $78,000-$113,000
Salary varies based on previous experience, seniority, company and geographic location.
Start Your New Career
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