Insurance investigators perform a variety of services that help insurance companies find evidence of fraud. They often review insurance policy claims and collect evidence showing that the claim is valid. Insurance investigators may also need to conduct surveillance in the field. Investigators usually report to insurance claims managers who oversee cases.
Excelling in this job usually requires careful attention to detail. Investigators also need to follow complex directions when collecting evidence and filing reports.
Insurance Investigator Job Education Requirements
Insurance investigators can get jobs without earning college degrees. Having a college education, however, can expand a person's career opportunities.
While insurance investigators are not required to hold college degrees, they must have previous work experience as law enforcement officers or insurance professionals. Many have experience working as insurance claims adjusters.
Insurance investigators must also pass a background check and pass any certification exams required by their states.
Insurance Investigator Job Market
The Bureau of Labor Statistics estimates that the job market for insurance investigators will grow by about three percent between 2012 and 2022. This is rate is slower than average. Professionals willing to move to certain cities, however, may enjoy healthier job markets. The New York City area has more insurance investigator jobs than any other city in the United States. Chicago, Los Angeles, and Philadelphia also have large job markets for insurance investigators.
Insurance Investigator Job Salary Information
The mean annual wage for insurance investigators was $63,500 ($30.53 per hour) in May 2014. Jobs in some states, however, tend to pay higher wages. The annual mean wage for insurance investigators in Washington, D.C. was $79,900 ($38.41 an hour) in May 2014. Investigators working in Connecticut can expect to earn about $72,420 a year ($34.82 per hour). Those in New Jersey make about $70,230 per year ($33.76 an hour).