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Employers of Actuarial Science majors in ME

Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk that an event will occur and they help businesses and clients develop policies that minimize the cost of that risk. Actuaries’ work is essential to the insurance industry. Most actuaries work full time in an office setting. Actuaries who work as consultants may frequently travel to meet with clients. Actuaries need a bachelor’s degree and must pass a series of exams to become certified professionals. They must have a strong background in mathematics, statistics, and business. The median annual wage for actuaries was $93,680 in May 2012. Employment of actuaries is projected to grow 26 percent from 2012 to 2022, much faster than the average for all occupations. Actuaries will be needed to develop, price, and evaluate a variety of insurance products and calculate the costs of new risks.

Actuaries

Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk of potential events, and they help businesses and clients develop policies that minimize the cost of that risk. They analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits. Actuaries’ work is essential to the insurance industry. Most actuaries work full time in an office setting. Actuaries who work as consultants may frequently travel to meet with clients. Actuaries need a bachelor’s degree and must pass a series of exams to become certified professionals. They must have a strong background in mathematics, statistics, and business. The median annual wage for actuaries was $101,560 in May 2017. Employment of actuaries is projected to grow 22 percent from 2016 to 2026, much faster than the average for all occupations. However, because it is a small occupation, the fast growth will result in only about 5,300 new jobs over the 10-year period. Actuaries will be needed to develop, price, and evaluate a variety of insurance products and calculate the costs of new, emerging risks.

Claims Adjusters, Examiners, and Investigators

Claims adjusters, appraisers, examiners, and investigators evaluate insurance claims. They decide whether an insurance company must pay a claim, and if so, how much. Most claims adjusters, appraisers, examiners, and investigators work full time. They often work outside the office, inspecting properties on which insurance claims have been made, such as damaged buildings and automobiles. A high school diploma or equivalent is typically required for a person to work as an entry-level claims adjuster, examiner, or investigator, although some positions may require a bachelor’s degree or insurance-related work experience. Auto damage appraisers typically have either a postsecondary nondegree award or previous work experience in identifying and estimating the cost of automotive repair. The median annual wage for claims adjusters, examiners, and investigators was $64,900 in May 2017. The median annual wage for insurance appraisers, auto damage was $62,100 in May 2017. Employment of claims adjusters, appraisers, examiners, and investigators is projected to show little or no change from 2016 to 2026. Technology is expected to automate some of the tasks currently performed by these workers.

Insurance Appraisers, Auto Damage

Appraise automobile or other vehicle damage to determine repair costs for insurance claim settlement. Prepare insurance forms to indicate repair cost or cost estimates and recommendations. May seek agreement with automotive repair shop on repair costs. The median annual wage for insurance appraisers was $62,100 in 2017.

Insurance Sales Agents

Insurance sales agents contact potential customers and sell one or more types of insurance. Insurance sales agents explain various insurance policies and help clients choose plans that suit them. Most insurance sales agents work in offices, although some may spend time traveling to meet with clients. Some sales agents meet with clients during business hours and then spend evenings doing paperwork and preparing presentations to prospective clients. Although most employers only require agents to have a high school diploma, many agents have a bachelor’s degree. Agents must be licensed in the states where they work. The median annual wage for insurance sales agents was $49,710 in May 2017. Employment of insurance sales agents is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations. Faster employment growth is projected for agents selling health insurance.

Insurance Underwriters

Insurance underwriters decide whether to provide insurance, and under what terms. They evaluate insurance applications and determine coverage amounts and premiums. Insurance underwriters work indoors in offices. Most work full time. Employers prefer to hire candidates who have a bachelor’s degree. However, insurance-related work experience and strong computer skills may be enough for some positions. Certification is generally necessary for advancement to senior underwriter and underwriter manager positions. The median annual wage for insurance underwriters was $69,760 in May 2017. Employment of insurance underwriters is projected to decline 5 percent from 2016 to 2026. Automated underwriting software allows workers to process applications more quickly than before, reducing the need for as many underwriters.

Displaying 1 - 50 of 884 companies
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Company City State
UNUM Life Insurance Company of America
Unumprovident
Reliance Standard Life Insurance Co
Custom Disability Solutions
Maine Employers' Mutual Insurance Company
MEMIC
Martin's Point Health Care, Inc.
Usfhp At Martin's Point
Aetna Life Insurance Company
Aetna
Disability Reinsurance Management Services, Inc.
Drms
Acadia Insurance Company
Blue Cross and Blue Shield of Massachusetts, Inc.
Blue Cross
Allen Insurance & Financial
Allen Agency
Clark Insurance
Medical Mutual Insurance Company of Maine
Cross Financial Corp.
Cross Insurance
Healthmarkets, Inc.
The Prudential Insurance Company of America
Prudential
Metropolitan Property and Casualty Insurance Company
MetLife
Cannon Cochran Management Services, Inc.
Ccmsi
Patriot Mutual Insurance Company
Alliant Insurance Services, Inc.
Woodrow W. Cross Agency
Cross Insurance-Bangor
North East Insurance Company
The Dunlap Corporation
Dunlap Claims Management Svc
Uig, Inc.
United Insurance
Investmart of New England Inc
UNUM Life Insurance Company of America
T D Banknorth Insurance Group
Jones-Hoxie Corporation
Cross Insur Jones-Hoxie Div
General RE Life Corporation
Jha
The Kyes Agency Inc
Kyes-Currier-Dubord
Ghm Agency Inc
Allstate
Red Door Title LLC
Red Door Title
Clark Insurance
UNUM Life Insurance Company of America
Cross Financial Corp.
Patient Advocates, LLC
Sargent Tyler & West
F. A. Peabody Company
Metropolitan Life Insurance Company (inc)
MetLife
Concord General Mutual Insurance Company
Concord Group Insur Companies
Wis Inc.
Cross Insurance
Healey & Associates Inc
Chalmers Insurance Agency
Chalmers Insurance & RE Agcy
Casco Indemnity Co
Healey & Associates Inc
Chapman & Drake
Cross Insurance-Bath
Colonial Adjustment Incorporated
Varney Agency, Inc.
Allstate
Metropolitan Life Insurance Company (inc)
MetLife
Smithwick & Mariners Insurance Inc
Harvard Pilgrim Health Care, Inc.
Desmond & Payne, Inc.
Cross Insurance-Portland
Displaying 1 - 50 of 884 companies
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