Insurance Landscape

The past year has been huge in terms of growth for the US Insurance industry despite some market obstacles such as low interest rates. Today's improving economy and the regained ability of insurers to get credit from banks has spurred the rebound of this industry. The Property and Casualty segment skyrocketed to its most profitable levels since the recession and health insurers regained steady revenue.

In addition to customer service oriented strategies, technological advancements have also aided the insurance industry in its recovery. By utilizing innovative tools such as data analytics and telematics, insurance agencies have made improvements on how they collaborate with external partners and internal staff. These new techniques have helped companies more effectively distribute their products and services.

As the market continues to firm, agencies are expected to become more productive in order to remain competitive. Improved automation will pave the way for more efficient, paperless systems. Competition between small and mid-sized agencies is also expected to increase as the insurance industry continues to gain momentum. Overall, the success of businesses in the insurance industry falls on insurance agents who are projected to experience a significant increase in revenue per employee.

Fraud Investigator
Manager, Underwriting
Claims Manager, Insurance
Senior Actuarial Analyst
Insurance Claims Representative

What we do

Insurers focus on customer service has proven to be a critical factor in driving success in an insurance business. These so called "superstars" who work for these companies are the backbone of the business and determine if sales dwindle or thrive. If you are an employer in this industry, appropriate compensation is crucial when it comes to attracting and retaining talented employees that can help your company flourish. PayScale has salary data for all types of insurance agents including property, casualty, life and health. We also can help benchmark positions like actuary, underwriter and claims manager. In addition to this, PayScale compares the skill sets of employees to help you determine which skills deserve higher compensation. By gauging how much your employees should be paid, you can help your company grow revenue by keeping your top talent motivated.