Claims Manager, Insurance Salary

Insurance Claims Managers in the United States are often veterans in their line of work, with a little under three-quarters bringing more than 10 years of experience to the table. Salaries slide in at $78K annually on average but can range from $41K to $113K 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 $41K on the low end and $113K on the high end. This group's pay is mainly influenced by the particular firm, followed by career length and geographic location. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent. Most Insurance Claims Managers like their work and job satisfaction is high. Medical benefits are awarded to most, and a strong majority earn dental coverage. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$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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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. The most common promotion for Insurance Claims Managers is a Claims Manager position, which usually brings in $70K a year. Another standard transition for Insurance Claims Managers seeking advancement is to assume a Risk Management Manager role, where pay is often $84K.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


Employees of State Farm Insurance Company can expect to make the most, with the company offering a median salary of $116K; however, pay is widely dispersed from bottom to top, ranging from $78K to $146K.

Popular Skills for Claims Manager, Insurance


Job skills reported by Insurance Claims Managers are limited. 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. 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.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Relatively untried employees who have less than five years' experience make $51K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $70K. For Insurance Claims Managers, 10 to 20 years of experience on the job amounts to an average salary of $79K. 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.

Surpassing the national average by 27 percent, Insurance Claims Managers in Dallas receive some of the highest pay in the country. 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). The smallest paychecks in the market, 11 percent south of the national average, can be found in Denver. A couple other locations with smaller-than-average paychecks include 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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