Claims Manager, Insurance Salary

Insurance Claims Managers who are practiced in their profession and carry more than 10 years of experience make up somewhere between two-thirds and three-fourths of Insurance Claims Managers. Pay fluctuates from $41K to $113K per year, but expected earnings average $77K per year. Total cash compensation to Insurance Claims Managers ranges from $41K on the lower end to $113K on the higher end; the final number includes potential for approximately $15K each from bonuses and profit sharing in exceptional cases. Compensation for this group is mainly affected by the particular firm, but career length and geography are influential factors as well. Job satisfaction is high and work is enjoyable for most Insurance Claims Managers. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half. Women make up a slight majority of Insurance Claims Managers (50 percent) survey respondents. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$44,136 - $108,428
(Median)
$44K
$77K
$110K
MEDIAN: $76,530
10%
50%
90%

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$11.59 - $26.76
(Median)
$12
$19
$27
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
$44,136 - $108,428  
   
Bonus
$0.00 - $14,839  
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).
)
$40,673 - $113,429  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 567
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
$11.59 - $26.76  
   
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 - $14,839  
   
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).
)
$40,673 - $113,429  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 46
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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 who transition into a Claims Director role may receive large pay increases as the latter position pays an average $101K per year. A Claims Manager role is the most prevalent career advancement for Insurance Claims Managers. Paychecks for that role are $69K on average. The Risk Management Manager position is another common transition for Insurance Claims Managers; in this role, salaries are typically at the $84K mark.

Claims Manager, Insurance Job Listings

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Popular Employer Salaries for Claims Manager, Insurance


State Farm Insurance Company offers the largest salaries in town ($118K on average), but the considerable range in workers' salaries creates a rather varied pay scale that stretches from $82K to $147K.

Popular Skills for Claims Manager, Insurance


Survey takers who work as Insurance Claims Managers usually 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. Project Management, on the other hand, is typically associated with much lower pay. For most people, competency in Claim Handling indicates knowledge of 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 rich background of experience are typically rewarded with larger paychecks. The average beginner in this position makes around $51K, but folks who have been around for five to 10 years see a markedly higher median salary of $69K. Insurance Claims Managers who work for 10 to 20 years in their occupation tend to earn about $79K. Seasoned veterans with 20 years under their belts enjoy a median income of $91K.

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Experience Affects Claims Manager, Insurance Salaries



National Average
$78,000



Skills That Affect Claims Manager, Insurance Salaries


National Average
$78,000

Insurance
up arrow 2%

Claim Handling
up arrow 3%

Project Management
up arrow 26%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 155 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
0%
1-4 years
12%
5-9 years
16%
10-19 years
34%
20 years or more
38%

Common Health Benefits

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