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Account Manager, Insurance Salary

The majority of Insurance Account Managers in the United States — slightly less than three-fifths — boast more than 10 years of experience in their profession. Salaries stretch from $33K to $70K per year, and the median is $49K per year. Total cash compensation to Insurance Account Managers bottoms out near $33K and approaches $70K on the high end; the biggest paychecks include approximately $7K from bonuses and almost $5K from profit sharing. Location and career duration each impact pay for this group, with the former having the largest influence. Most Insurance Account Managers like their work and job satisfaction is high. A fair number enjoy medical while the larger part get dental coverage. Vision coverage is also available to roughly one-half. This overview is based on answers to PayScale's salary questionnaire.
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$33,491 - $70,250
(Median)
$33K
$49K
$70K
MEDIAN: $49,056
10%
50%
90%

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$14.02 - $24.67
(Median)
$14
$18
$25
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
$33,491 - $70,250  
   
Bonus
$204.67 - $7,469  
Profit Sharing
$309.13 - $4,848  
Commission
$30.64 - $9,933  
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).
)
$32,796 - $70,191  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 506
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$14$28$42
Hourly Rate
$14.02 - $24.67  
   
Overtime
$11.23 - $39.18  
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$28K$56K$84K
Bonus
$204.67 - $7,469  
   
Commission
$30.64 - $9,933  
Profit Sharing
$309.13 - $4,848  
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).
)
$32,796 - $70,191  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 97

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United States (change)


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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


Insurance Account Managers report using a wide range of professional skills. 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. Most people skilled in Customer Service are similarly competent in Customer Relations.

Pay by Experience Level for Account Manager, Insurance

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


Experience does not seem to be a strong driver of pay increase in this role. Those in the early stages of their career can expect to make around $40K; however, individuals with five to 10 years of experience bring in $50K on average — a distinctly larger sum. For Insurance Account Managers, 10 to 20 years of experience on the job amounts to an average salary of $51K. Veterans who have acquired more than 20 years report a median income of $54K, which is generally higher than the pay reported by other tenure groups.

Related Job Salaries

United States (change)

Experience Affects Account Manager, Insurance Salaries




National Average
$48,000


Skills That Affect Account Manager, Insurance Salaries

Customer Relationship Management (CRM)
up arrow 4%

National Average
$48,000

Insurance
up arrow 4%

Customer Relations
up arrow 4%

Account Management
up arrow 4%

Sales
up arrow 6%


Microsoft Excel
up arrow 14%

Insurance License
up arrow 22%

Oral / Verbal Communication
up arrow 32%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 96 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: 79% dental benefits Dental: 63%
vision benefits Vision: 49% employee benefits None: 18%
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