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Claims Manager, Insurance Salary

With more than two-thirds 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 $75K annually and can range from $40K on the lower end to $112K per year near the higher end. Overall cash earnings of Insurance Claims Managers stretch from $40K near the bottom to $112K at the top, and the heftiest packages can encompass around $15K each from bonuses and profit sharing. The most influential factor affecting pay for this group is the company, though tenure and geographic location have a (lesser) impact as well. Women Insurance Claims Managers who took the survey just slightly outnumber men. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most Insurance Claims Managers like their work and job satisfaction is high.

$43,646 - $107,474
(Median)
$44K
$75K
$110K
MEDIAN: $75,489
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
$43,646 - $107,474  
   
Bonus
$0.39 - $14,580  
Profit Sharing
$604 - $14,293  
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).
)
$40,280 - $112,470  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 618
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 - $40.50  
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
$0.39 - $14,580  
   
Commission
$0.00 - $13,750  
Profit Sharing
$604 - $14,293  
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).
)
$40,280 - $112,470  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 47

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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. More often than not, a Claims Manager role is the next step for Insurance Claims Managers moving up in the field. Pay for Claims Managers is usually $70K. Many Insurance Claims Managers choose to take on a Risk Management Manager role instead, where salaries are typically $84K.

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 report a focused set of job 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. The majority of those 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 who reported more years of relevant experience also reported higher earnings. Respondents with less than five years' experience take home $52K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $67K. The average pay reported by folks with 10 to 20 years of experience is around $78K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $90K on average.

Related Job Salaries

United States (change)

Experience Affects Claims Manager, Insurance Salaries



National Average
$77,000



Skills That Affect Claims Manager, Insurance Salaries


Insurance
up arrow 1%

National Average
$77,000

Claim Handling
up arrow 1%

Project Management
up arrow 32%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 173 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
0%
1-4 years
12%
5-9 years
18%
10-19 years
34%
20 years or more
36%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 77%
vision benefits Vision: 63% employee benefits None: 10%