Claims Manager, Insurance Salary

Insurance Claims Managers in the United States tend to have a good amount of experience under their belt — somewhere between two-thirds and three-fourths have more than 10 years in the field. While pay runs from $41K to $113K per year, median earnings come to $78K annually. Including potential for bonuses and profit sharing, each hitting highs of $15K, total cash payment to Insurance Claims Managers can bottom out at $41K or peak near $113K. Compensation for this group is mainly affected by the specific employer, but years of experience and location are influential factors as well. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Most Insurance Claims Managers like their work and job satisfaction is high. Women Insurance Claims Managers who took the survey just slightly outnumber men. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$44,478 - $108,087
(Median)
$44K
$78K
$110K
MEDIAN: $77,607
10%
50%
90%

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$12.18 - $27.72
(Median)
$12
$19
$28
MEDIAN: $18.00
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
$44,478 - $108,087  
   
Bonus
$0.00 - $14,982  
Profit Sharing
$578 - $14,391  
Commission
$7,500  
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).
)
$41,133 - $112,949  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 581
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
$12.18 - $27.72  
   
Overtime
$0.00 - $46.37  
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 - $14,982  
   
Commission
$7,500  
Profit Sharing
$578 - $14,391  
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).
)
$41,133 - $112,949  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 50
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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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As Insurance Claims Managers transition into upper-level roles such as Claims Director, they may see a strong upturn in salary. Claims Directors earn $101K on average per year. Going from Insurance Claims Manager to Claims Manager is the transition that occurs most often in this field, and the average paycheck for Claims Managers is $70K. Many others choose to work as Risk Management Managers, where pay is typically $84K.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


The biggest paychecks can be found at State Farm Insurance Company — the median salary there is $116K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $78K and highest ones in the neighborhood of $146K.

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, Claim Handling, Insurance, and Project Management 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

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


Experience seems to be a major factor in determining the incomes of Insurance Claims Managers. Salaries of relatively inexperienced workers fall in the neighborhood of $51K, but folks who have racked up five to 10 years see a notably higher median of $70K. Insurance Claims Managers see a median salary of $79K after reaching one to two decades on the job. Insurance Claims Managers who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $92K.

Pay Difference by Location

National Average: $78,532

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

Insurance Claims Managers will find that Dallas offers an impressive pay rate, one which exceeds the national average by 27 percent. Insurance Claims Managers can also look forward to large paychecks in cities like New York (+23 percent), Los Angeles (+22 percent), Boston (+17 percent), and Cincinnati (+16 percent). With compensation 11 percent below the national average, Denver is not known for hefty paychecks and actually represents the lowest-paying market. Employers also pay below the national average in Charlotte and Houston (10 percent lower).

Related Job Salaries

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Experience Affects Claims Manager, Insurance Salaries



National Average
$79,000



Skills That Affect Claims Manager, Insurance Salaries


National Average
$79,000

Claim Handling
up arrow 2%

Insurance
up arrow 2%

Project Management
up arrow 27%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 139 votes.

Gender

Female
53 %
Male
47 %

Years of Experience

Less than 1 year
1%
1-4 years
11%
5-9 years
17%
10-19 years
34%
20 years or more
37%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 79%
medical benefits
Vision: 67%
dental benefits
None: 10%
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