Insurance

The salary range for people working in Bulgaria in Insurance is typically from 1,210 BGN (minimum salary) to 3,915 BGN (highest average, actual maximum salary is higher).

This is the total monthly salary including bonuses. Salaries can vary drastically among different job positions. If you are interested in the salary of a particular job, please choose it from the list.

List of positions in the Insurance category and their job descriptions

Actuary

• Monitoring the insurance market, developing new products and proposing changes of existing products.
• Formulating insurance contracts, insurance conditions and special arrangements.
• Determining premium tariffs, the amount of technical provisions in life insurance and supplementary insurance.
• Preparing and updating technical business plans and manuals.
• Preparing documents for the implementation of changes related to product innovation in the information system.
• Creating and updating computer programs for distribution networks, pricing, taxation and technical changes in life insurance.
• Testing the profitability of products.
• Preparing personalised insurance offers.
• Preparing documents for the assessment of non-standard changes in life insurance.
• Performing and ensuring activities related to financial funds in investment life insurance.
• Preparing documentation and participating in conducting methodological trainings for distribution networks.
• Preparing documentation for accounting, the National Bank of Slovakia, auditors, shareholders and other entities, preparing periodic reports for the reinsurer.
• Providing expert consultation on life insurance products to other units of the company.

1,665 - 7,391 BGN

Branch Director

• Overseeing the overall operations and strategic direction of the branch.
• Leading and managing a team to ensure high levels of performance and productivity.
• Developing and implementing business plans to achieve branch goals and objectives.
• Building and maintaining strong relationships with clients, stakeholders, and partners.
• Ensuring compliance with company policies, industry regulations, and quality standards.
• Monitoring branch performance metrics and preparing regular reports for upper management.
• Identifying opportunities for growth and improvement within the branch's services and operations.
• Managing budgets and financial performance, including forecasting and expense control.
• Conducting regular training and development sessions for staff to enhance skills and knowledge.
• Addressing customer inquiries and resolving issues promptly to maintain satisfaction and loyalty.
• Collaborating with other branches and departments to align strategies and share best practices.
• Representing the branch at industry events, conferences, and community engagements.

2,180 - 5,380 BGN

Department Manager

• Lead and manage the Assurance department to ensure operational excellence and achievement of organizational goals.
• Oversee the planning, execution, and delivery of assurance services, ensuring compliance with international standards and company policies.
• Develop and implement strategies to enhance the effectiveness and efficiency of assurance processes.
• Supervise, mentor, and evaluate team members, fostering professional growth and high performance.
• Collaborate with cross-functional teams to address client needs and deliver tailored assurance solutions.
• Monitor industry trends and regulatory changes to ensure the department's services remain competitive and compliant.
• Prepare and present reports on departmental performance, key metrics, and areas for improvement to senior management.
• Establish and maintain strong relationships with clients, ensuring high levels of satisfaction and trust.
• Identify opportunities for business development and contribute to the growth of the Assurance department.
• Manage departmental budgets, resources, and schedules to optimize productivity and cost-effectiveness.
• Ensure the implementation of risk management practices and uphold the highest standards of quality and integrity.
• Represent the department in internal and external meetings, promoting the organization's values and mission.

1,609 - 6,301 BGN

Insurance Broker

• Seeking out potential customers and providing customer care to existing clients.
• Analysing needs and proposing individual insurance solutions according to customer requirements.
• Providing advice and consultations concerning the insurance industry.
• Concluding contracts with individual and corporate clients.
• Responsibility for updating client database.
• Participating in regular trainings and courses.

1,106 - 3,087 BGN

Loss Adjuster

• Performing or ensuring the sightings of damaged or destroyed things, including the completion of the relevant documentation.
• Communicating with clients, involved or invited persons, public authorities and external contracting partners with the aim of ensuring all the documents necessary for a comprehensive assessment of a claim.
• Assessing client claims for indemnification under the applicable legal regulations and insurance contract and informing clients about the outcome.
• Determining the amount of indemnification reserve and the amount of indemnification in accordance with applicable legal regulations, internal regulations and insurance contract and the delivering the insurance benefits to clients.
• Preparing documentation for the regression procedures.
• Handling complaints and appeals from clients.
• Providing professional consulting services to clients and other sections of the company in matters related to the settlement of claims in the given class of insurance.
• Updating the appropriate forms, internal regulations and directives.

1,450 - 2,766 BGN

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