Claims Manager, Insurance Salary

With somewhere between two-thirds and three-fourths of Insurance Claims Managers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Insurance Claims Managers is $76K annually and can range from $41K on the lower end to $114K per year near the higher end. Overall cash earnings of Insurance Claims Managers stretch from $41K near the bottom to $114K at the top, and the heftiest packages can encompass around $15K each from bonuses and profit sharing. The company is the main element affecting pay for this group — career length and geographic location are driving factors as well. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to most, and a strong majority earn dental coverage. Men working as Insurance Claims Managers who took the survey just slightly outnumber women at 50 percent. This snapshot results from replies to PayScale's salary survey.

$44,000 - $108,550
(Median)
$44K
$76K
$110K
MEDIAN: $76,375
10%
50%
90%

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$11.53 - $25.97
(Median)
$12
$19
$26
MEDIAN: $18.00
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
$44,000 - $108,550  
   
Bonus
$0.00 - $14,813  
Profit Sharing
$587 - $14,795  
Commission
$0.00 - $14,348  
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).
)
$40,630 - $113,657  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 572
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
$11.53 - $25.97  
   
Overtime
$0.00 - $45.62  
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 - $14,813  
   
Commission
$0.00 - $14,348  
Profit Sharing
$587 - $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).
)
$40,630 - $113,657  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 45
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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


Insurance Claims Managers seeking a sizable paycheck can earn the most at State Farm Insurance Company, where the median salary comes to $118K, though the large pay difference between employees at the top ($82K) and those starting out ($147K) creates a rather diverse pay scale.

Popular Skills for Claims Manager, Insurance


Insurance Claims Managers only report a few specific skills. Most notably, skills in People Management, Insurance, Claim Handling, 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.


For many Insurance Claims Managers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. The average worker who claims fewer than five years of experience earns around $52K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $69K. After working for 10 to 20 years, Insurance Claims Managers make a median salary of $79K. People who have worked for more than 20 years report a median income of $90K, which is barely higher than the median for folks with 10 to 20 years of experience.

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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

Claim Handling
up arrow 2%

Insurance
up arrow 2%

Project Management
up arrow 26%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 158 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
0%
1-4 years
12%
5-9 years
17%
10-19 years
34%
20 years or more
37%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 79%
vision benefits Vision: 65% employee benefits None: 10%
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