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Insurance Risk Analyst Jobs in Illinois (NOW HIRING)

SageSure

Catastrophe Risk Analyst

Chicago, IL · On-site

SageSure, a leader in catastrophe-exposed property insurance, is seeking a Catastrophe Risk Analyst. In this role, you'll play a critical part in advancing the scientific, statistical, and model ...

Chubb

Vendor Risk Analyst

Chicago, IL · On-site +1

The Vendor Risk Management Analyst will be responsible for assessing, monitoring, and mitigating ... Health insurance * Dental insurance * Tuition reimbursement * A company-match 401(k) plan

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

SageSure, a leader in catastrophe-exposed property insurance, is seeking a Senior Catastrophe Risk Analyst. In this role, you'll play a critical part in advancing the scientific, statistical, and ...

SageSure

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

SageSure, a leader in catastrophe-exposed property insurance, is seeking a Senior Catastrophe Risk Analyst. In this role, you'll play a critical part in advancing the scientific, statistical, and ...

Gallagher

Senior Catastrophe Risk Analyst

Chicago, IL · On-site

Overview At Gallagher Re, we're looking for a Senior Catastrophe Risk Analyst to join our team and help analyze natural catastrophe risks for insurance and reinsurance underwriting. In this role, you ...

Wintrust

Risk Management Analyst

Northbrook, IL

FIRST Insurance Funding prides itself in its commitment to service. Not only do we provide ... The Risk Analyst is responsible gathering and analyzing information in order to underwrite a ...

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All JobsInsurance Risk Analyst JobsInsurance Risk Analyst Jobs in Illinois

Insurance Risk Analyst information

See Illinois salary details

$47.5K

$80.7K

$151.2K

How much do insurance risk analyst jobs pay per year?

As of Jun 10, 2026, the average yearly pay for insurance risk analyst in Illinois is $80,659.00, according to ZipRecruiter salary data. Most workers in this role earn between $63,000.00 and $83,800.00 per year, depending on experience, location, and employer.

What are some common challenges faced by Insurance Risk Analysts in evaluating emerging risks?

Insurance Risk Analysts often encounter challenges when assessing emerging risks such as cyber threats, climate change, or new technologies, as there may be limited historical data available. This requires them to continuously update their knowledge, collaborate with underwriters, actuaries, and external experts, and adopt advanced analytical tools to make informed recommendations. Staying proactive in identifying trends and adapting risk models is essential for success in this dynamic environment.

What are Insurance Risk Analysts?

Insurance Risk Analysts are professionals who assess and analyze potential risks that could affect an insurance company or its clients. They evaluate data and financial information to determine the likelihood and potential cost of events such as accidents, natural disasters, or other losses. Their work helps insurance companies set appropriate premiums and develop strategies to minimize financial loss. Insurance Risk Analysts also monitor trends and provide recommendations to reduce risk exposure.

What is the difference between Insurance Risk Analyst vs Insurance Underwriter?

AspectInsurance Risk AnalystInsurance Underwriter
Required CredentialsBachelor's degree in finance, economics, or related field; certifications like CPCU or ARM beneficialBachelor's degree in finance, economics, or related field; certifications like CPCU or ARM beneficial
Work EnvironmentAnalyzes data, assesses risks, and provides reports; often in an office settingEvaluates applications, determines policy terms, and approves or declines coverage; office-based
Employer & Industry UsageInsurance companies, risk management firms, consulting agenciesInsurance companies, brokerage firms, underwriting agencies

While both roles require similar credentials and work in the insurance industry, Insurance Risk Analysts focus on analyzing and quantifying risks to inform decision-making, whereas Insurance Underwriters evaluate individual applications to determine policy terms. Understanding these differences helps clarify career paths and employer expectations in the insurance sector.

What are the key skills and qualifications needed to thrive as an Insurance Risk Analyst, and why are they important?

To thrive as an Insurance Risk Analyst, you need strong analytical skills, a solid understanding of risk assessment methodologies, and typically a bachelor’s degree in finance, mathematics, or a related field. Familiarity with statistical software, risk modeling tools, and certifications such as Chartered Property Casualty Underwriter (CPCU) or Associate in Risk Management (ARM) are often required. Attention to detail, critical thinking, and effective communication are crucial soft skills for interpreting data and presenting findings to stakeholders. These skills ensure accurate risk evaluation, informed decision-making, and the development of effective risk mitigation strategies within insurance organizations.

What Does an Insurance Risk Analyst Do?

An insurance risk analyst performs a variety of duties related to assessing risks your clients may undergo and how to insure them properly. You collect and analyze data, such as past claims in the industry, competitor pricing, and various risk management strategies to help your company keep costs down. Qualifications for the job include career training, education, and specialized skills. Typically, you need a bachelor’s degree in accounting or finance and some work experience in the industry. Important skills include an excellent eye for detail and strong analytical problem-solving.

More about Insurance Risk Analyst jobs
What are popular job titles related to Insurance Risk Analyst jobs in Illinois? For Insurance Risk Analyst jobs in Illinois, the most frequently searched job titles are:
What job categories do people searching Insurance Risk Analyst jobs in Illinois look for? The top searched job categories for Insurance Risk Analyst jobs in Illinois are:
What cities in Illinois are hiring for Insurance Risk Analyst jobs? Cities in Illinois with the most Insurance Risk Analyst job openings:
What are popular job titles related to Insurance Risk Analyst jobs in IL? For Insurance Risk Analyst jobs in IL, the most frequently searched job titles are:
Insurance Risk Analyst jobs near you
Infographic showing various Insurance Risk Analyst job openings in Illinois as of June 2026, with employment types broken down into 1% Locum Tenens, 1% Internship, 85% Full Time, 9% Part Time, and 4% Contract. Highlights an 83% Physical, 7% Hybrid, and 10% Remote job distribution, with an average salary of $80,659 per year, or $38.8 per hour.
Catastrophe Risk Analyst

Catastrophe Risk Analyst

SageSure

Chicago, IL • On-site

Full-time

Posted 28 days ago

Job description

Overview:
If you're looking for the stability of a profitable, growing company with the entrepreneurial spirit of a startup, we're hiring. SageSure, a leader in catastrophe-exposed property insurance, is seeking a Catastrophe Risk Analyst.
In this role, you'll play a critical part in advancing the scientific, statistical, and model-based understanding of catastrophe risk across perils such as hurricanes, earthquakes, wildfires, floods, and severe convective storms. You'll support the development and evaluation of catastrophe models, enhance internal risk views, and deliver insights to inform underwriting, portfolio management, and reinsurance strategy.
What you'd be doing:
  • Evaluate third-party catastrophe models (e.g., RMS, Verisk, CoreLogic) and contribute to the development of internal risk assessments.
  • Analyze large datasets (e.g., exposure data, claims data, hazard data) to assess model performance, validate assumptions, and identify opportunities for improvement.
  • Conduct claims analysis, event response, and post-event analytics.
  • Support the integration of climate science and emerging research into catastrophe risk modeling and analytics.
  • Collaborate with internal teams (underwriting, actuarial, reinsurance, risk, and data science) to apply research findings to real-world business decisions.
  • Design and implement analytical tools or frameworks that improve model transparency, interpretability, and efficiency.
  • Monitor and interpret academic, regulatory, and industry developments related to catastrophe risk modeling and analytics.
  • Ad hoc job duties as assigned.

We're looking for someone who has:
  • Advanced degree (Master's or PhD) in Atmospheric Science, Earth Science, Hydrology, Structural Engineering, Applied Mathematics, Statistics, or a related quantitative field.
  • 32-5 years of experience in catastrophe modeling, natural hazard risk research, insurance analytics, or a related discipline.
  • Proficiency with catastrophe modeling platforms (RMS, Verisk, AIR, etc.).
  • Strong coding and data analysis skills (e.g., Python, R, SQL).
  • Experience working with geospatial data and tools (e.g., GIS, QGIS, ArcGIS).
  • Familiarity with stochastic simulation, probabilistic risk modeling, and quantitative methods.
  • Excellent problem-solving, critical thinking, and communication skills.
  • Ability to explain complex scientific or quantitative findings to non-technical audiences.
  • Strong team player with a collaborative mindset and attention to detail

Highly preferred candidates also have:
  • Experience working within (re)insurance, ILS, consulting, or catastrophe model vendor environments.
  • Proficiency with catastrophe modeling platforms (RMS, Verisk, AIR, etc.).
  • Exposure to catastrophe model evaluation, event response analysis, or climate risk integration.
  • Demonstrated interest in catastrophe modeling, risk analytics, or climate-driven hazard research.

Catastrophe Risk R&D:
At SageSure, the Catastrophe Risk R&D team is redefining how the industry understands and manages catastrophe risk. We operate at the intersection of science, technology, data, and industry insight, developing a proprietary view of risk that goes beyond traditional models. Our work shapes risk management strategy, capital allocation, and external market positioning, directly influencing how SageSure protects policyholders and partners in catastrophe-exposed regions.
Join the team that sees risk differently-and proves it.
About SageSure:
Named among the Best Places to Work in Insurance by Business Insurance for four years in a row (2020-2023), SageSure is one of the largest managing general underwriters (MGU) focused on catastrophe-exposed property in the US. Since its founding in 2009, SageSure has experienced exceptional growth while generating underwriting profits for carrier partners through hurricanes, wildfires, and hail. Available in 16 states, SageSure offers more than 110 home, flood, and commercial products on behalf of its highly rated carrier partners. Today, SageSure manages more than $3.2 billion of inforce premium and helps protect more than 970,000 policyholders.
We have more than 1,000 employees in a distributed workforce environment across 12 offices-Fairfield, CA; Mountain View, CA; Cheshire, CT; Jacksonville, FL; Tallahassee, FL; Tampa, FL; Chicago, IL; Jersey City, NJ; Marlton, NJ; Cincinnati, OH; Houston, TX; Sheboygan, WI-who are tackling the industry's toughest challenges.
SageSure is a proud Equal Opportunity Employer committed to building a workforce that reflects the spectrum of perspectives, experiences, and abilities of the world we live in. We recognize that our differences make us strong, and we actively seek out diverse candidates through partnerships with organizations, institutions and communities that represent various backgrounds. We champion belonging and inclusion for all identities, including, but not limited to, race, ethnicity, religion, sexual orientation, age, veteran status, ability status, gender, and country of origin, striving to create a culture where all individuals feel valued, respected, and empowered to bring their authentic selves to work.
Our nimble, highly responsive culture nurtures critical thinkers who run toward problems and engineer solutions. We relentlessly pursue better outcomes by investing in the technology, talent, and tools that position us to succeed in demanding markets. Come join our team! Visit sagesure.com/careers to find a position for you.
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