This page features the salary of insurance company workers in Nigeria. Check it out.
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
An insurance company is a company that provides some sort of coverage or compensation that may result from loss or damage of lives and properties. An entity which provides insurance is known as an insurer.
Anyone that buys an insurance is known as an insured or as a policyholder.
Any risk that can be quantified can potentially be insured.
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There are different types of insurance. These include:
Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a traffic collision.
Gap insurance covers the excess amount on your auto loan in an instance where your insurance company does not cover the entire loan.
Health insurance policies cover the cost of medical treatments.
Income protection insurance/Disability insurance
Disability insurance policies provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury.
Casualty insurance insures against accidents, not necessarily tied to any specific property
Life insurance provides a monetary benefit to a decedent’s family or other designated beneficiary.
Burial insurance is a very old type of life insurance which is paid out upon death to cover final expenses, such as the cost of a funeral.
Property insurance provides protection against risks to property, such as fire, theft or weather damage
Liability insurance is a very broad superset that covers legal claims against the insured.
Credit insurance repays some or all of a loan when the borrower is insolvent.
Livestock insurance is a specialist policy provided to commercial or hobby farms, aquariums, fish farms or any other animal holding.
Here Is The Average Salary Of Insurance Company Workers In Nigeria
A person working in an insurance company earns within the range of ₦126,000 – ₦655,000. This is the average monthly salary including housing, transport, and other benefits. Salary varies drastically between different insurance carriers.
Your salary is according to your position or job title, different job titles have their different job description hence different salaries.
Below is a full breakdown of the salary scale based on job title.
Job Title & Average Salary
- Actuarial Analyst – ₦445,000
- Actuarial Assistant – ₦331,000
- Actuary – ₦468,000
- Adjustment Insurance Clerk – ₦129,000
- Assistant Broker – ₦204,000
- Assistant Claims Manager – ₦355,000
- Associate Insurance Rep – ₦172,000
- Auditing Insurance Manager – ₦494,000
- Broker – ₦348,000
- Claim Advocacy Professional – ₦347,000
- Claims Adjuster – ₦131,000
- Claims Analyst – ₦176,000
- Claims Examiner – ₦168,000
- Claims Manager – ₦485,000
- Claims Processor – ₦122,000
- Claims Representative – ₦152,000
- Claims Resolution Specialist – ₦357,000
- Claims Supervisor – ₦345,000
- Complaints Specialist – ₦295,000
- Compliance Officer – ₦272,000
- Consultant – ₦339,000
- Eligibility Specialist – ₦335,000
- Insurance Account Manager – ₦422,000
- Insurance Accounts Executive – ₦379,000
- Insurance Agent – ₦208,000
- Insurance Analyst – ₦313,000
- Insurance Appraiser – ₦335,000
- Insurance Claims Clerk – ₦119,000
- Insurance Examiner – ₦311,000
- Insurance Investigator – ₦306,000
- Insurance Manager – ₦570,000
- Insurance Operations Manager – ₦551,000
- Insurance Policy Processing Clerk – ₦128,000
- Insurance Pricing Assistant – ₦261,000
- Insurance Program Manager – ₦459,000
- Insurance Project Manager – ₦432,000
- Insurance Quality Assurance Agent – ₦296,000
- Insurance Sales Agent – ₦196,000
- Insurance Sales Director – ₦575,000
- Insurance Team Leader – ₦338,000
- Insurance Underwriter – ₦257,000
Have you been searching online for the salary of a person working in an insurance company in Nigeria?
This article reveals the salary scale of insurance company workers in Nigeria according to their job positions.
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