Claims Manager, Insurance Salary

With somewhere between two-thirds and three-fourths of Insurance Claims Managers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Insurance Claims Managers is $78K per year and can range from $42K on the lower end to $121K per year near the higher end. Total cash compensation for Insurance Claims Managers runs from $42K to $121K depending on bonuses that can occasionally exceed $17K and profit sharing that can reach almost $15K. Compensation for this group is mainly affected by the particular firm, but the particular city and years of experience are influential factors as well. Most workers in this position report high levels of job satisfaction. Insurance Claims Managers survey participants are largely women, dominating at 61 percent. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a strong majority.

$44,930 - $111,543
$45K
$78K
$110K
MEDIAN: $78,139
10%
50%
90%

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$12.33 - $28.14
$12
$18
$28
MEDIAN: $17.61
10%
50%
90%

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$0$121K
Salary $44,930 - $111,543
Bonus $888 - $16,515
Profit Sharing $-0.49 - $14,681
Commission $14,874
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).
)
$41,759 - $121,240
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 368
Hourly Data $0$42
Hourly Rate $12.33 - $28.14
Overtime $30.98
Annual Data $0$121K
Bonus $888 - $16,515
Commission $14,874
Profit Sharing $-0.49 - $14,681
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).
)
$41,759 - $121,240
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 37

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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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Insurance Claims Managers sometimes assume positions such as Vice President (VP), Claimss. That role pays $142K per year on average. A Claims Manager role is the most common promotion for Insurance Claims Managers moving up the ladder. Pay for this role tends to be $71K per year. Another typical, albeit less common, transition for Insurance Claims Managers is a Claims Director position, where earnings are usually $102K.

Claims Manager, Insurance Job Listings

Popular Employer Salaries for Claims Manager, Insurance


Although State Farm Insurance Company heads up the field in terms of compensation, offering the highest median salary at $109K, pay at this particular employer still varies considerably, running the full spectrum from $72K to $149K.

Popular Skills for Claims Manager, Insurance


Insurance Claims Managers who responded to the survey indicated only a few skills that they use on the job. 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. The majority of those who know Claim Handling also know People Management.

Pay by Experience Level for Claims Manager, Insurance

Pay by Experience for a Claims Manager, Insurance has a positive trend. An entry-level Claims Manager, Insurance with less than 5 years of experience can expect to earn an average total compensation of $46,000 based on 79 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Claims Manager, Insurance with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $71,000 based on 90 salaries. An experienced Claims Manager, Insurance which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $81,000 based on 153 salaries. A Claims Manager, Insurance with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $92,000 based on 128 salaries.

Pay Difference by Location

National Average: $79,054

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

For Insurance Claims Managers, busy Los Angeles offers a higher-than-average pay rate, 28 percent above the national average. Insurance Claims Managers will also find cushy salaries in Boston (+26 percent), Dallas (+20 percent), Cincinnati (+16 percent), and New York (+11 percent). Insurance Claims Managers in Denver report much lower salaries than the rest of the country — 30 percent below the national average — proving that residence is a major factor in overall pay. Employers in Houston and Tampa also lean toward paying below-median salaries (24 percent lower and 11 percent lower, respectively).

Related Job Salaries

Key Stats for Claims Manager, Insurance

Gender

Female
61 %
Male
39 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 77 votes.
Less than 1 year
1%
1-4 years
14%
5-9 years
16%
10-19 years
32%
20 years or more
38%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Claims Manager, Insurance Salaries

▲16%

▲2%

National Average
$79,000

▼11%

▼41%

Skills That Affect Claims Manager, Insurance Salaries


National Average
$79,000

Claim Handling
▼2%

▼2%

Negotiation
▼2%

Project Management
▼28%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 77 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
1%
1-4 years
14%
5-9 years
16%
10-19 years
32%
20 years or more
38%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 75%
vision benefits
Vision: 71%
no benefits
None: 13%
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