INSURANCE ANALYST 4 LIFE AND HEALTH
Career Family: INSURANCE ANALYST
Insurance Analyst 4 Life and Health sits in the competitive class of New Jersey's state civil service, so reaching it runs through testing and an eligible list instead of a straight hire.
It lists a bachelor's degree as the baseline, with an experience-based path open to those who do not hold the degree. Pay on the FY 2027 schedule runs $60,876 to $88,743, and state payroll currently lists about 11 people in the title, most of them at Banking and Insurance.
How to apply
This title is filled by competitive examination.
See every real route in, and where to apply. One agency employs it. We don't track live vacancies.
See where to apply for this title →Who employs this title
Insurance Analyst 4 Life and Health appears on the State payroll at one department, Department of Banking & Insurance.
State departments
| Employer | Employees |
|---|---|
| Department of Banking & Insurance | 11 |
State payroll and independent authority payroll are separate systems and are never merged. See data sources.
Pay ladder: Insurance Analyst series
- Insurance Analyst 4 Rating — $60,876 – $88,743
- Insurance Analyst 3 Rating — $69,668 – $101,951
- Insurance Analyst 2 Rating — $83,582 – $122,832
- Insurance Analyst 1 Rating — $95,955 – $141,386
Its top salary lands around the 30th percentile of all NJ civil service titles that publish a range.
Rungs are ordered by FY 2027 pay. NJ level numbers are not always sequential, so ordering follows salary rather than the title number.
Who employs this title
State payroll records show 11 people working under this title. The median actual salary is $66,895. The agencies employing the most are:
- Banking and Insurance (11)
Counts from NJ YourMoney agency payroll. See statewide workforce analytics.
Official job specification
The text below is the official specification published by the New Jersey Civil Service Commission. The plain-language summary and analysis above are derived from it by NJ Civil Service Navigator. Source: the official specification page at NJ CSC.
Definition
Under the supervision of an Insurance Analyst 1, (Life and Health) or other supervisory official in the Division of Actuarial Services, Life/Health performs assigned analytical work in connection with the review and analysis of policy submissions, and/or reserve valuations, and/or financial solvency of insurers in accordance with insurance statutes; does related work as required.
Examples of work
Reviews life/health policy form submissions and related rates for compliance with applicable statutes, Department regulations, guidelines and standards. Provides recommendations on policy form submissions, by citing reasons for approval or disapproval. Reviews and verifies portions of life/health reserve valuations for accuracy and for compliance with applicable statutes, Department regulations, guidelines, and standards. Reviews life and health insurers statutory financial statements and related data on company operations for analysis of financial condition. Prepares correspondence regarding requests for additional information or clarification and changes to company submissions. Identifies unusual benefit structures and refers such items to the Insurance Analyst 1 or other supervisory official. Reviews actuarial memorandums included with submissions to verify that the material contained in the memorandum is consistent with the benefit structures. Maintains files and records. Will be required to learn to utilizes various types of electronic and/or manual information and processing systems used by the agency, office or related units.
License
Appointee will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
Knowledge, skills and abilities
Knowledge of actuarial procedures and of the formulas used in calculations. Knowledge of the principles underlying the statutory financial statements of insurance companies. Ability to interpret and apply the laws of New Jersey relating to the operation and supervision of life insurance companies and of the regulations of the Department of Insurance promulgated there under. Ability to comprehend, analyze, interpret and apply basic law, Department regulations and established policies, standards, and procedures to specific situations. Ability to analyze financial reports and statements and provide recommendations regarding the same. Ability to organize assigned work to produce desired results within time restrictions imposed by statutes. Ability to prepare actuarially sound, accurate and informative reports. Ability to establish and maintain cooperative working relationships with those interested or involved with the work of the unit. Ability to establish and maintain records and files. Ability to learn to utilize various types of electronic and/or manual recording and information systems used by the agency, office or related units. Ability to read, write, speak, understand, or communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication. Persons with mental or physical disabilities are eligible as long as they can perform the essential functions of the job after reasonable accommodation is made to their known limitations. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible. CODE: 19/P19 MCK 11/13/04 <
Note
The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job specification. Conversely, all duties performed on the job may not be listed. Applicants must meet one of the following or a combination of both experience and education. Thirty (30) semester hour credits are equal to one (1) year of relevant experience. Five (5) years of professional experience in the analysis of life/health insurance forms and benefits or reserve valuations and financial statements, including or supplemented by twelve (12 )semester hour credits in mathematics, statistics, and/or actuarial science. OR Possession of a Bachelor's degree from an accredited college or university, including or supplemented by twelve (12) semester hour credits in mathematics, statistics, and/or actuarial science; and one (1) year of the above-mentioned professional experience. "Professional experience" refers to work that is analytical, evaluative, and interpretive; requires a range of basic knowledge of the profession's concepts and practices; and is performed with the authority to act and make accurate and informed decisions.