Account Manager, Insurance Salary

Insurance Account Managers in the United States are often veterans in their line of work, with slightly less than three-fifths bringing more than 10 years of experience to the table. Salaries slide in at $49K per year on average but can range from $33K to $70K per year. In the world of Insurance Account Managers, overall income ranges from $33K near the bottom to $70K at the top; this can include more than $7K from bonuses and more than $4K from profit sharing in exceptional cases. Residence and career duration each impact pay for this group, with the former having the largest influence. Work is enjoyable for Insurance Account Managers, who typically claim high levels of job satisfaction. A fair number report receiving medical coverage from their employers and the greater part collect dental insurance. This report is based on responses to the PayScale salary survey.
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$33,592 - $69,793
(Median)
$34K
$49K
$70K
MEDIAN: $49,220
10%
50%
90%

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$13.86 - $24.40
(Median)
$14
$18
$24
MEDIAN: $18.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Salary
$33,592 - $69,793  
   
Bonus
$243.61 - $7,356  
Profit Sharing
$400.00 - $4,250  
Commission
$-0.49 - $9,910  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$32,780 - $69,909  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 552
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$13$26$39
Hourly Rate
$13.86 - $24.40  
   
Overtime
$11.33 - $38.93  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$26K$52K$78K
Bonus
$243.61 - $7,356  
   
Commission
$-0.49 - $9,910  
Profit Sharing
$400.00 - $4,250  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$32,780 - $69,909  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 105
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Job Description for Account Manager, Insurance

Account managers in the insurance industry are found in a variety of insurance firms, from small insurance companies to large nationwide dealers. Most positions do not have defined educational requirements, but many do list a bachelor’s degree as being preferred. However, many positions require relevant experience in the field, though the exact amount varies by company and position. Other requirements include licenses specific to the type of insurance practice and location of the job.

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Account Manager, Insurance Tasks

  • Provide information on updates and revisions to regulations and policies.
  • Work with clients and producers to update and audit accounts.
  • Update and maintain files, databases, and contact lists.
  • Review, manage and grow assigned portfolio of accounts.
  • Send, receive, and file paperwork and forms and complete associated administrative tasks.

Account Manager, Insurance Job Listings

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Popular Skills for Account Manager, Insurance


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Customer Relationship Management, Account Management, Customer Relations, and Insurance are correlated to pay that is above average. Those listing Oral / Verbal Communication as a skill should be prepared for drastically lower pay. Insurance License and Microsoft Excel also typically command lower compensation. Those proficient in Customer Service are, more often than not, also skilled in Customer Relations.

Pay by Experience Level for Account Manager, Insurance

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For Insurance Account Managers, more experience in the field does not usually mean bigger paychecks. Survey participants with less than five years' experience pocket $41K on average, but those with five to 10 years of experience enjoy a much bigger median of $50K. Insurance Account Managers claiming one to two decades of experience make an estimated median of $51K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $53K.

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Experience Affects Account Manager, Insurance Salaries




National Average
$48,000


Skills That Affect Account Manager, Insurance Salaries

Customer Relationship Management (CRM)
up arrow 6%

Account Management
up arrow 4%

National Average
$48,000

Insurance
up arrow 4%

Customer Relations
up arrow 4%

Sales
up arrow 6%


Microsoft Excel
up arrow 15%

Insurance License
up arrow 22%

Oral / Verbal Communication
up arrow 32%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 97 votes.

Gender

Female
91 %
Male
9 %

Years of Experience

Less than 1 year
2%
1-4 years
20%
5-9 years
22%
10-19 years
32%
20 years or more
24%

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 63%
vision benefits Vision: 49% employee benefits None: 18%
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