INSURANCE ANALYST 1 RATING
Rating
Career Family: INSURANCE ANALYST
Insurance Analyst 1 Rating is a state title in New Jersey's competitive civil service, which means the way in is an open exam rather than a direct appointment.
It is the top of the Insurance Analyst ladder, a grade above Insurance Analyst 2 Rating. On paper it calls for a bachelor's degree, though the specification lets enough relevant experience stand in for the degree. Pay on the FY 2027 schedule runs $95,955 to $141,386, and state payroll currently lists 7 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 1 Rating appears on the State payroll at one department, Department of Banking & Insurance.
State departments
| Employer | Employees |
|---|---|
| Department of Banking & Insurance | 7 |
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 (this title)
Its top salary lands around the 84th 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 7 people working under this title. The median actual salary is $130,021. The agencies employing the most are:
- Banking and Insurance (7)
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 supervision of an Actuary or other supervisory official in the Division of Actuarial Services, Property/Liability, Department of Insurance, performs supervisory and/or nonsupervisory work concerned with the review and analysis of filings submitted by insurance companies and rating organizations representing insurance companies pursuant to the requirements of the rating and form filing laws and prepares recommendations for the approval or disapproval thereof; does related work as required.
Examples of work
Directs the insurance analysts in research methods used in conjunction with the review of rates, rules, and forms filings, and the preparation of formal recommendations of action to be taken on assigned projects. Prepares comprehensive technical reports for the Actuary, disclosing findings and conclusions based on the review and analysis of rules, rates, and forms filings by insurance companies, joint underwriters, and rating organizations. Participates in conferences with the executives of rating organizations, insurance companies, and other recognized agencies and confers with members of the public on matters pertaining to insurance policy coverages and premiums. Conducts examinations at the divisional office or site of rating organizations, advisory organizations, joint underwriting associations, insurance companies, agents, and brokers to determine compliance with the rating and forms filing laws. Coordinates with the Chief of Statistical Services the requirements for premium and loss experience as they pertain to the review of rates or in connection with special studies. Assigns normal tasks involving the highly technical actuarial procedures applicable to rate filing reviews and studies. Plans, organizes, and assigns the work of the organizational unit and evaluates employee performance and conduct, enabling the effective recommendation of the hiring, firing, promoting, and disciplining of subordinates. Supervises the preparation of clear, sound, technically accurate, and informative statistical and other reports of rating and related matters containing findings, analysis, conclusions, and recommendations. Prepares written responses to inquiries and complaints received from the public concerning rates, rules, and policy forms. Participates in research projects involving contact with other state and federal agencies, library research, and contact with insurance industry organizations. Utilizes computer programs to assist in rate analysis and verification in connection with pricing change requests for all kinds of insurance and to verify rates as a result of an inquiry from an insured. Will be required to learn to utilize various types of electronic and/or manual recording and information 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 New Jersey Insurance laws and regulations pertaining to insurance companies, rating organizations, and their application to the operations of this division after a period of training. Knowledge of the principles of rate making or all kinds of property/liability insurance as utilized by insurance companies and rating organizations. Knowledge of the procedures and problems involved in the analysis of insurance rates. Knowledge of the procedures and methods used in making examinations of rating organizations, advisory organizations, joint underwriting associations, insurance companies, agents, and brokers. Ability to review and analyze detailed and complex material submitted in filings made pursuant to the rating and form filing laws and to prepare appropriate recommendations based thereon. Ability to make assignments, instruct, and supervise rate analysts of varied grades in the performance of their work. Ability to learn to operate P/C computers and pertinent software. Ability to prepare and supervise the preparation of clear, sound, technically accurate and informative reports on rating matters containing findings, conclusions, and recommendations. 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 essential functions of the job with or without reasonable accommodation. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible.
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. Eight (8) years of professional experience in work involving the analysis of property/liability rating systems and policy forms used by insurance companies and/or rating organizations, including or supplemented by twelve (12) semester hour credits in mathematics, statistics, and/or actuarial science. Successful completion of six (6) parts of the Chartered Property Casualty Underwriters Program (CPCU) or three (3) Actuarial Exams in the Casualty Actuarial Society, or Accredited Adviser in Insurance designation, or an Associate in Underwriting, or an Associate in Insurance Accounting and Finance from the Insurance Institute of America. 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. Successful completion of six (6) parts of the Chartered Property Casualty Underwriters Program (CPCU) or three (3) Actuarial Exams in the Casualty Actuarial Society, or Accredited Adviser in Insurance designation, or an Associate in Underwriting, or an Associate in Insurance Accounting and Finance from the Insurance Institute of America; and four (4) years of the above-mentioned professional experience. 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 seven (7) years of the above-mentioned professional experience. "Professional experience" refers to work that is creative, analytical, evaluative, and interpretive; requires a range and depth of specialized knowledge of the profession's principles, concepts, theories, and practices; and is performed with the authority to act according to one's own judgment and make accurate and informed decisions.