Claims Manager, Insurance Salary

Somewhere between two-thirds and three-fourths of Insurance Claims Managers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $42K to $120K per year, and the average comes out to $78K annually. In the world of Insurance Claims Managers, overall income ranges from $42K near the bottom to $120K at the top; this can include more than $17K from bonuses and more than $15K from profit sharing in exceptional cases. While geography and experience level impact pay for this group, the company is the most influential factor. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 58 percent. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. For the most part, Insurance Claims Managers enjoy their work and report high levels of job satisfaction. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$44,813 - $109,948
$45K
$78K
$110K
MEDIAN: $77,808
10%
50%
90%

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$12.41 - $28.76
$12
$18
$29
MEDIAN: $17.74
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
$44,813 - $109,948  
   
Bonus
$979 - $17,349  
Profit Sharing
$0.00 - $14,795  
Commission
$14,830  
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).
)
$41,802 - $119,587  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 359
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
$12.41 - $28.76  
   
Overtime
$16.73 - $47.34  
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
$979 - $17,349  
   
Commission
$14,830  
Profit Sharing
$0.00 - $14,795  
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).
)
$41,802 - $119,587  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 38

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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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While Insurance Claims Managers do not often become Vice President (VP), Claimss, the job pays $142K per year on average. Insurance Claims Managers go on to become Claims Managers more often than anything even though median pay for the role is $71K. Insurance Claims Managers who move into a Claims Director role, another well-traveled path for those in this field, tend to find salaries of $102K.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


For Insurance Claims Managers, comfortable salaries can be found at State Farm Insurance Company; in fact, average earnings are around $109K, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($72K versus $149K) is great.

Popular Skills for Claims Manager, Insurance


Insurance Claims Managers usually report a few specific skills. Most notably, skills in People Management, Claim Handling, Negotiation, and Insurance are correlated to pay that is above average. Those listing Project Management as a skill should be prepared for drastically lower pay. Most people skilled in Claim Handling are similarly competent in 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: $78,773

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

For Insurance Claims Managers, Los Angeles provides a pay rate that is 29 percent greater than the national average. Insurance Claims Managers can also look forward to large paychecks in cities like Boston (+27 percent), Dallas (+20 percent), Cincinnati (+16 percent), and New York (+11 percent). One of the biggest compensable factors for Insurance Claims Managers is geography, with workers in Denver earning a whopping 30 percent below the national average. Workers in Houston and Tampa earn salaries that trail the national average for those in this profession (24 percent less and 11 percent less, respectively).

Related Job Salaries

Key Stats for Claims Manager, Insurance

Gender

Female
58 %
Male
42 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 74 votes.
Less than 1 year
1%
1-4 years
14%
5-9 years
15%
10-19 years
35%
20 years or more
35%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Claims Manager, Insurance Salaries

▲16%

▲2%

National Average
$79,000

▼10%

▼41%

Skills That Affect Claims Manager, Insurance Salaries


National Average
$79,000

Claim Handling
▼1%

▼2%

Negotiation
▼2%

Project Management
▼28%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 74 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
1%
1-4 years
14%
5-9 years
15%
10-19 years
35%
20 years or more
35%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 76%
vision benefits
Vision: 72%
no benefits
None: 12%
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