Insurance risk consultant to insurance rating analyst
An insurance risk consultant already meets 49% of what the insurance rating analyst role asks for. The move turns on 6 required skills not yet in the profile.
49.2/ 100
1 How much of what an insurance rating analyst is expected to do is already part of an insurance risk consultant’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the insurance rating analyst role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An insurance rating analyst role treats 7 of its required skills as things an insurance risk consultant already does. You would walk in with these on day one.
- actuarial science
- analyse financial risk
- insurance law
- obtain financial information
- principles of insurance
- synthesise financial information
What stands in the way is 6 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 14 skills that carry over, these are the ones fewest other occupations ask for. An insurance rating analyst role needs them, and most people applying for one will not have them already. This is the part of an insurance risk consultant background worth leading with.
- already held create underwriting guidelines information skills
- already held perform debt investigation information skills
- already held analyse insurance risk information skills
- already held insurance law business, administration and law
- already held debt systems business, administration and law
- already held principles of insurance business, administration and law
All 14 carried skills, including the 7 the insurance rating analyst role treats as required.
Table 3 · What you may need to learn
The 17 missing skills fall into 5 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn prepare credit reports required
- still to learn analyse loans required
- still to learn examine credit ratings required
- optional, not held consult credit score optional
- optional, not held analyse financial performance of a company optional
- optional, not held forecast future levels of business optional
- still to learn credit control processes required
- still to learn insurance market required
- still to learn advise on financial matters required
- optional, not held promote financial products optional
- optional, not held advise on credit rating optional
- optional, not held build business relationships optional
- optional, not held communicate with banking professionals optional
- optional, not held create cooperation modalities optional
- optional, not held review investment portfolios optional
- optional, not held apply credit risk policy optional
- optional, not held create credit policy optional
Table 4 · Where to start
The 3 entries an insurance rating analyst role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 prepare credit reports practise this
- 02 advise on financial matters practise this
- 03 analyse loans practise this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 14 skills that carry over
- already held actuarial science knowledge
- already held analyse financial risk skill
- already held insurance law knowledge
- already held obtain financial information skill
- already held principles of insurance knowledge
- already held synthesise financial information skill
- already held types of insurance knowledge
- already held advise on risk management skill
- already held analyse insurance risk skill
- already held create underwriting guidelines skill
- already held debt systems knowledge
- already held modern portfolio theory knowledge
- already held perform debt investigation skill
- already held statistics knowledge
11 supplementary skills, helpful but not required
- optional, not held consult credit score optional
- optional, not held create credit policy optional
- optional, not held promote financial products optional
- optional, not held advise on credit rating optional
- optional, not held analyse financial performance of a company optional
- optional, not held apply credit risk policy optional
- optional, not held build business relationships optional
- optional, not held communicate with banking professionals optional
- optional, not held create cooperation modalities optional
- optional, not held forecast future levels of business optional
- optional, not held review investment portfolios optional
18 held skills the insurance rating analyst role does not ask for
- not needed by the target role apply statistical analysis techniques skill
- not needed by the target role calculate insurance rate skill
- not needed by the target role claims procedures knowledge
- not needed by the target role collect property financial information skill
- not needed by the target role compile statistical data for insurance purposes skill
- not needed by the target role conduct financial surveys skill
- not needed by the target role create insurance policies skill
- not needed by the target role create risk maps skill
- not needed by the target role decide on insurance applications skill
- not needed by the target role estimate damage skill
- not needed by the target role organise a damage assessment skill
- not needed by the target role perform risk analysis skill
- not needed by the target role prepare survey report skill
- not needed by the target role produce materials for decision making skill
- not needed by the target role provide support in financial calculation skill
- not needed by the target role review insurance process skill
- not needed by the target role risk identification knowledge
- not needed by the target role survey techniques knowledge
2 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn credit control processes required
- still to learn insurance market required
Common questions about this move
Can an insurance risk consultant become an insurance rating analyst?
Yes, and it is a moderate move. An insurance risk consultant already covers 49% of what an insurance rating analyst is expected to do: 14 skills carry over, 7 of which the insurance rating analyst role treats as required.
What skills does an insurance risk consultant need to become an insurance rating analyst?
6 required skills are missing, plus 11 optional ones. They fall into 5 areas of the ESCO skill hierarchy, led by information skills. The single most important is prepare credit reports.
How hard is the move from insurance risk consultant to insurance rating analyst?
Its learning distance is 49.2 out of 100, which is the moderate band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.