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Claims Manager, Insurance Salary

Between two-thirds and three-fourths of Insurance Claims Managers in the United States have been in the field for more than 10 years. Pay can fall anywhere from $40K to $113K per year, but median earnings come to around $76K per year. Incomes of Insurance Claims Managers vary widely depending on performance components; bonuses and profit sharing that can occasionally exceed $15K cause paychecks to spread between $40K on the low end and $113K on the high end. The most important factor affecting compensation for this group is the specific employer, followed by career length and location. Most Insurance Claims Managers report high levels of job satisfaction. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Women Insurance Claims Managers who took the survey just slightly outnumber men.

$43,242 - $108,228
(Median)
$43K
$76K
$110K
MEDIAN: $76,119
10%
50%
90%

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$11.63 - $25.86
(Median)
$12
$18
$26
MEDIAN: $17.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$43,242 - $108,228  
   
Bonus
$0.00 - $14,681  
Profit Sharing
$602 - $14,373  
Commission
$0.00 - $13,750  
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).
)
$40,211 - $113,304  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 602
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25$50$75
Hourly Rate
$11.63 - $25.86  
   
Overtime
$0.00 - $46.37  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$0.00 - $14,681  
   
Commission
$0.00 - $13,750  
Profit Sharing
$602 - $14,373  
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).
)
$40,211 - $113,304  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 47

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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

  • 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' salaries may rise greatly for those who assume a higher-end position such as a Claims Director. The average Claims Director brings home $101K per year. The most common career progression for Insurance Claims Managers leads to becoming a Claims Manager, where pay is typically $69K. However, many Insurance Claims Managers also opt to become Risk Management Managers, a position that pays $84K on average.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


State Farm Insurance Company offers the best pay with a median salary of $118K, though salaries there don't seem that varied, bottoming out near $85K and maxing out at just $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. Most people who know 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.


Insurance Claims Managers with a lot of experience tend to enjoy higher earnings. Respondents with less than five years' experience take home $51K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $67K. Insurance Claims Managers see a median salary of $79K after reaching one to two decades on the job. Insurance Claims Managers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $90K on average.

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United States (change)

Experience Affects Claims Manager, Insurance Salaries



National Average
$77,000



Skills That Affect Claims Manager, Insurance Salaries


Insurance
0%

National Average
$77,000

Claim Handling
up arrow 1%

Project Management
up arrow 26%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 164 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
0%
1-4 years
11%
5-9 years
18%
10-19 years
33%
20 years or more
37%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 77%
vision benefits Vision: 63% employee benefits None: 10%
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