Risk engineer, insurance salary

Risk Engineer, Insurance: Job Description and Salary

Working as a Risk Engineer in the insurance industry involves managing various risks and developing strategies to minimize them. The profession combines technical expertise with analytical skills and requires close collaboration with insurance salespeople and insurance advisors. As a Risk Engineer, it is important to have a deep understanding of insurance products and be able to tailor them to individual customer needs.

Salary Statistics for Risk Engineer, Insurance

The average salary for a Risk Engineer in the insurance industry is 49 500 kronor per month. However, there is a clear gender pay gap in this profession. Men in this field earn an average of 54 000 kronor, while women earn 45 000 kronor, meaning that women earn 83 % of what men do. For hourly employees, the average salary is 298 kronor per hour, based on 166 working hours per month.

Salary Disparities

Salaries for risk engineers can vary significantly depending on experience and education. The highest salary for a male risk engineer is 64600 kronor, while the highest salary for a female is 54200 kronor. On the lower end of the scale, a male risk engineer earns 46300 kronor, while a female earns 40700 kronor. The highest salaries are often associated with a post-secondary education of three years or more, while the lowest salaries are typically found among those with pre-secondary education.

Education and Qualifications

To work as a Risk Engineer in insurance, a post-secondary education in a relevant field such as engineering, economics, or insurance is usually required. A bachelor's degree or higher can be advantageous, especially for those aiming for higher salary levels. Experience in the insurance industry and knowledge of risk management are also important qualifications.

Benefits in the Profession

Working as a Risk Engineer can offer several benefits depending on the employer. These may include paid training for continuous professional development, flexibility to work from home, and modern work tools such as a company-paid mobile phone and computer. It is important to investigate the specific benefits offered upon employment.

Future Outlook and Working Conditions

Unfortunately, there is limited information on the specific future outlook for Risk Engineers in insurance, according to the forecasts of the Swedish Public Employment Service. However, the profession is part of the broader category of insurance salespeople and insurance advisors, for which no specific assessment has been made. Generally, there is a stable demand for skilled risk engineers, especially in larger cities and at insurance companies with international operations.

Challenges in the Profession

One of the biggest challenges for a Risk Engineer in insurance is to stay updated on the latest regulations and trends in the insurance industry. Technological advancements and changes in customer expectations require risk engineers to quickly adapt their strategies and advice.

• Stay updated on legislation and regulations
• Understand and anticipate market trends
• Develop and implement effective risk management strategies

Considerations for Future Risk Engineers

For those considering a career as a Risk Engineer in insurance, it is important to have strong analytical skills, good communication skills, and an interest in both technology and economics. It is also crucial to be able to work both independently and in teams, as the job often involves collaboration with various departments within a company.

Choosing the right educational path and continuously developing one's skills can be crucial to succeeding in this career. With the right qualifications and experience, there is an opportunity to reach a high salary level and have a satisfying career in the insurance industry.