Claims Manager, Insurance Salary

Insurance Claims Managers in the United States with more than 10 years of experience in their profession represent more than two-thirds of Insurance Claims Managers. Salaries average out to around $78K per year and spread from $41K to $118K per year. With some bonuses approaching $17K and certain profit sharing proceeds approaching $15K, 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 company, though the particular city and years of experience have a (lesser) impact as well. For the most part, Insurance Claims Managers enjoy their work and report high levels of job satisfaction. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The numbers in this rundown were provided by PayScale's salary survey participants.

$44,482 - $108,993
$44K
$78K
$110K
MEDIAN: $77,724
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
$44,482 - $108,993  
   
Bonus
$992 - $17,479  
Profit Sharing
$0.00 - $15,000  
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).
)
$40,970 - $118,170  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 333
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
$16.85 - $49.38  
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
$992 - $17,479  
   
Commission
$15,000  
Profit Sharing
$0.00 - $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).
)
$40,970 - $118,170  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 38

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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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It's not very common for Insurance Claims Managers to move on to become Vice President (VP), Claimss. Average pay for a VP of Claims is $142K annually. More often than not, a Claims Manager role is the next step for Insurance Claims Managers moving up in the field. Pay for Claims Managers is usually $71K. Many Insurance Claims Managers choose to take on a Claims Director role instead, where salaries are typically $102K.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


Employees of State Farm Insurance Company can expect to make the most, with the company offering a median salary of $109K; however, pay is widely dispersed from bottom to top, ranging from $72K to $149K.

Popular Skills for Claims Manager, Insurance


Survey results suggest that Insurance Claims Managers use a fairly large toolkit of professional 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. It is often found that people who know Claim Handling are also skilled in People Management.

Pay by Experience Level for Claims Manager, Insurance

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


Insurance Claims Managers with a lot of experience tend to enjoy higher earnings. Survey participants with less than five years' experience pocket $46K on average, but those with five to 10 years of experience enjoy a much bigger median of $71K. Insurance Claims Managers bring in $81K after working for 10 to 20 years. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $92K on average.

Pay Difference by Location

National Average: $77,810

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

Los Angeles is home to an above-average pay rate for Insurance Claims Managers, 30 percent higher than the national average. Insurance Claims Managers will also find cushy salaries in Boston (+29 percent), Dallas (+21 percent), Cincinnati (+18 percent), and New York (+13 percent). Insurance Claims Managers in Denver report much lower salaries than the rest of the country — 29 percent below the national average — proving that residence is a major factor in overall pay. Below-median salaries also turn up in Houston and Tampa (23 percent lower and 10 percent lower, respectively).

Related Job Salaries

Key Stats for Claims Manager, Insurance

Gender

Female
60 %
Male
40 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 63 votes.
Less than 1 year
1%
1-4 years
15%
5-9 years
15%
10-19 years
35%
20 years or more
35%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Claims Manager, Insurance Salaries

▲18%

▲4%

National Average
$78,000

▼9%

▼40%

Skills That Affect Claims Manager, Insurance Salaries


Claim Handling
▼0%

National Average
$78,000

▼1%

Negotiation
▼1%

Project Management
▼27%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 63 votes.

Gender

Female
60 %
Male
40 %

Years of Experience

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

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 75%
vision benefits
Vision: 71%
dental benefits
None: 12%
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