Claims Manager, Insurance Salary

The majority of Insurance Claims Managers in the United States — a little under three-quarters — boast more than 10 years of experience in their profession. Salaries stretch from $41K to $118K per year, and the median is $77K per year. With some bonuses approaching $17K and certain profit sharing proceeds approaching $10K, overall incomes of Insurance Claims Managers spread between $41K and $118K depending on individual performance. The most influential factor affecting pay for this group is the particular firm, though the particular city and years of experience have a (lesser) impact as well. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a strong majority. The majority of Insurance Claims Managers claim high levels of job satisfaction. Women make up a slight majority of Insurance Claims Managers (57 percent) survey respondents.

$44,637 - $109,647
$45K
$77K
$110K
MEDIAN: $77,144
10%
50%
90%

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$11.94 - $28.76
$12
$17
$29
MEDIAN: $17.44
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$44,637 - $109,647  
   
Bonus
$995 - $17,457  
Profit Sharing
$0.00 - $10,213  
Commission
$15,000  
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).
)
$41,306 - $118,346  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 356
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25$50$75
Hourly Rate
$11.94 - $28.76  
   
Overtime
$16.73 - $49.59  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$995 - $17,457  
   
Commission
$15,000  
Profit Sharing
$0.00 - $10,213  
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).
)
$41,306 - $118,346  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 38

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Claims Manager, Insurance

An insurance claims manager work with the claims adjusters to ensure that the all insurance claims are handled correctly. They review each adjuster's work periodically and check to make sure the final adjustment before the claim has been completed correctly. While often not involved in the day-to-day operations of claim adjusting, insurance claims managers are ultimately responsible for the work completed by the adjustors that they supervise; this includes ensuring that employees are following all company guidelines.

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Claims Manager, Insurance Tasks

  • Manages the claims activity for a business unit.
  • Oversees investigations and consultations with legal counsel.
  • Investigates out of guidelines inquiries, and ensures compliance to procedures, proper services and settlement of claims.
  • Report metrics, and assists senior management in developing and establishing policies and procedures.

Common Career Paths for Claims Manager, Insurance


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There are some Insurance Claims Managers — though it's uncommon — that transition into Vice President (VP), Claimss, where earnings are an average $143K annually. The most common promotion for Insurance Claims Managers is a Claims Manager position, which usually brings in $70K a year. Another standard transition for Insurance Claims Managers seeking advancement is to assume a Claims Director role, where pay is often $102K.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


Insurance Claims Managers seeking a sizable paycheck can earn the most at State Farm Insurance Company, where the median salary comes to $112K, though the large pay difference between employees at the top ($72K) and those starting out ($149K) creates a rather diverse pay scale.

Popular Skills for Claims Manager, Insurance


Insurance Claims Managers seem to require a number of specific skills. Most notably, skills in People Management, Claim Handling, Negotiation, and Insurance are correlated to pay that is above average. Project Management, on the other hand, is typically associated with much lower pay. Most people experienced in Claim Handling also know People Management.

Pay by Experience Level for Claims Manager, Insurance

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


Experience seems to be a major factor in determining the incomes of Insurance Claims Managers. Survey participants with less than five years' experience pocket $47K on average, but those with five to 10 years of experience enjoy a much bigger median of $70K. Insurance Claims Managers bring in $80K after working for 10 to 20 years. Insurance Claims Managers who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $92K.

Pay Difference by Location

National Average: $77,367

Larger city markers indicate a job is popular in that location.

Surpassing the national average by 31 percent, Insurance Claims Managers in Los Angeles receive some of the highest pay in the country. Insurance Claims Managers will also find cushy salaries in Boston (+24 percent), Chicago (+23 percent), Dallas (+22 percent), and New York (+13 percent). The lowest-paying market is Denver, which sits 29 percent below the national average, proving that location is a significant contributor to overall pay. Two other places where employers offer below-median salaries are Houston (20 percent less) and Tampa (10 percent less).

Related Job Salaries

Key Stats for Claims Manager, Insurance

Gender

Female
57 %
Male
43 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 69 votes.
Less than 1 year
1%
1-4 years
15%
5-9 years
15%
10-19 years
35%
20 years or more
34%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Claims Manager, Insurance Salaries

▲19%

▲3%

National Average
$77,000

▼9%

▼39%

Skills That Affect Claims Manager, Insurance Salaries



Insurance
▼0%

Negotiation
▼0%

National Average
$77,000

Project Management
▼26%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 69 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
1%
1-4 years
15%
5-9 years
15%
10-19 years
35%
20 years or more
34%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 75%
vision benefits
Vision: 71%
dental benefits
None: 12%
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