What does a Premium Auditor do?

Premium auditors ensure insurance companies’ financial operations are conducted properly and adhere to policies and regulations. They work in the insurance industry with a concentration on premiums or the price a consumer pays for their insurance coverage. They audit insurance companies’ financial records and operations and analyze the information to detect potential fraud and ensure companies follow laws and regulations.

Premium auditors also ensure the insurance company's financial statistics are accurately gathered and recorded so that rates can remain objective and that a reasonable rate structure has been developed. They may also inspect an insured company's payroll and tax records and the premises and day-to-day business operations and conduct quality control within the industry regarding interactions between companies and their clients. Premium auditors need a bachelor's degree in accounting and certification through an organization including the National Society of Insurance Premium Auditors.

What responsibilities are common for Premium Auditor jobs?
  • Evaluate risk exposures, hazards and controls, and suggest necessary recommendations and improvements where needed.
  • Provide technical classification support for underwriting and insurance agencies.
  • Serve as a resource for underwriting, financial, risk control and claims departments.
  • Evaluate physical premises, equipment, materials, work practices, and safety policies and programs.
  • Work with management to develop loss control strategies that will have the greatest impact on company success measures.
  • Provide loss control survey and consultative service to new and renewal business.
  • Build and maintain productive relationships with underwriting, claims, marketing, policyholders and agents
  • Conduct independent examinations of financial records of taxpayers that have unique or special audit features or anticipated accounting, tax law, or investigative problems.
  • Review of insured's financial and accounting records which includes auditing of payrolls, revenues, auto fleet, subcontractors, per diems, etc.
  • Review and resolve contested audits with agents, insureds, and support from underwriting.
  • Develop business partnership and ambassador-type relationship with insured policyholders.
  • Validate account operation information as part of underwriting process.
  • Conduct research and data collection to help identify risk sources and potential loss.
  • Manage difficult complex situations and or high impact internal and external relationship.
What are the typical qualifications for Premium Auditor jobs?
  • Bachelor's Degree in business, accounting, or computer science.
  • Strong command of English language and good communication skills.
  • Proficient with Microsoft Office Suite, especially Excel.
  • Strong leadership, time management, and critical thinking skills.
  • Advanced understanding of risk assessments.
Education--
Work/Life Balance
3.6 ★
Total Pay--
Career Opportunity
3.3 ★
Avg. Experience2-4 years

How much does a Premium Auditor make?

Confident
$60,914 /yr
Total Pay
$57,106
 /yr

Base Pay

+
$3,808
 /yr

Additional Pay

$60,914

 / yr
$40K$94K
Most Likely Range
Possible Range
See More Insights

Premium Auditor Career Path

Learn how to become a Premium Auditor, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Premium Auditor

Years of Experience Distribution

0 - 1
2%
2 - 4
91%
5 - 7
2%
8+
5%
Not including years spent in education and/or training

Premium Auditor Insights

Read what Premium Auditor professionals have to say about their job experiences and view top companies for this career.
AfirmAfirm
Senior Premium Auditor
Jul 6, 2022

“I have a great manager that knows what he is talking about and knows how to manage without micromanaging.”

RLIRLI
Senior Premium Auditor
Aug 29, 2022

“personal and professional and give you tools to grow professionally.”

Sarawak Plantation
Field Auditor
Oct 6, 2022

“Good good good good good”

IV3SolutionsIV3Solutions
Loss Control Inspector
Apr 4, 2022

“Great work and life balance”

Robinsons LandRobinsons Land
Sales Auditor
Nov 24, 2021

“Low salary and nothing more.”

Acuity InsuranceAcuity Insurance
Senior Loss Control Representative
Jul 17, 2020

“Salary reviews have been above my expectations every year!”

Lowry & AssociatesLowry & Associates
Premium Auditor
Feb 24, 2021

“Great people to work with”

Mid-Continent GroupMid-Continent Group
Senior Premium Auditor
Nov 10, 2022

“Great people to work with”

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Premium Auditor Interviews

Frequently asked questions about the roles and responsibilities of a Premium Auditor

The most similar professions to Premium Auditor are:
  • Auditor
  • Internal Auditor
  • It Auditor
  • Accountant

Related Careers

Auditor
$58,328
No skills overlap
Internal Auditor
$70,187
No skills overlap
It Auditor
$79,561
No skills overlap
Accountant
$59,380
No skills overlap

Premium Auditor Jobs