Claims Manager, Insurance Salary

Insurance Claims Managers who are practiced in their profession and carry more than 10 years of experience make up between two-thirds and three-fourths of Insurance Claims Managers. Pay fluctuates from $40K to $113K per year, but expected earnings average $77K per year. Overall cash earnings for Insurance Claims Managers vary widely between $40K and $113K; for a few high rollers, the final number can encompass upwards of $15K each from bonuses and profit sharing proceeds. Compensation for this group is mainly affected by the specific employer, but tenure and geography are influential factors as well. Most Insurance Claims Managers like their work and job satisfaction is high. Women make up a slight majority of Insurance Claims Managers (51 percent) survey respondents. Medical benefits are awarded to a large number, and a fair number earn dental coverage.

$43,829 - $108,428

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$11.71 - $26.45

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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
$43,829 - $108,428  
   
Bonus
$0.00 - $14,933  
Profit Sharing
$507 - $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).
)
$40,452 - $113,301  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 567
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
$11.71 - $26.45  
   
Overtime
$0.00 - $45.30  
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
$0.00 - $14,933  
   
Profit Sharing
$507 - $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).
)
$40,452 - $113,301  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 49
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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

  • 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.
  • Manages the claims activity for a business unit.
  • Oversees investigations and consultations with legal counsel.

Common Career Paths for Claims Manager, Insurance


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Insurance Claims Managers may experience a large salary bump if they progress into a role such as Claims Director. The latter position pays an average of $101K 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 $70K. Many Insurance Claims Managers choose to take on a Risk Management Manager role instead, where salaries are typically $84K.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


State Farm Insurance Company pays the most with a median salary of $118K, though with a large amount of variation, going from a low of $82K to a high of $147K.

Popular Skills for Claims Manager, Insurance


Insurance Claims Managers typically list a handful of skills they use on the job. Most notably, skills in People Management, Insurance, Claim Handling, and Project Management are correlated to pay that is above average. Project Management, on the other hand, is typically associated with much lower pay. Those proficient in Claim Handling are, more often than not, 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. Salaries of relatively inexperienced workers fall in the neighborhood of $50K, but folks who have racked up five to 10 years see a notably higher median of $69K. Insurance Claims Managers see a median salary of $79K after reaching one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $90K, but it's not much more than what less experienced people make.

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Experience Affects Claims Manager, Insurance Salaries



National Average
$77,000



Skills That Affect Claims Manager, Insurance Salaries


National Average
$77,000

Insurance
up arrow 1%

Claim Handling
up arrow 2%

Project Management
up arrow 26%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 149 votes.

Gender

Female
51 %
Male
49 %

Years of Experience

Less than 1 year
1%
1-4 years
12%
5-9 years
16%
10-19 years
33%
20 years or more
37%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 78%
vision benefits Vision: 65% employee benefits None: 10%
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