Claims Supervisor, Insurance Salary
Insurance Claims Supervisors in the United States are often veterans in their line of work, with more than two-thirds bringing more than 10 years of experience to the table. Salaries slide in at $70K per year on average but can range from $43K to $93K per year. In the world of Insurance Claims Supervisors, overall cash allowance can occasionally include more than $12K from bonuses and, in some exceptional cases, $10K from profit sharing, causing incomes to vary widely between $43K and $93K. Compensation for this group is mainly affected by geographic location, but years of experience and the specific company are influential factors as well. Medical benefits are awarded to almost all, and a large number earn dental coverage. Female Insurance Claims Supervisors survey participants are more prevalent than men — 63 percent of professionals. Job satisfaction for Insurance Claims Supervisors is high. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
Job Description for Claims Supervisor, Insurance
Insurance claims supervisors are responsible for managing their claims adjusters to ensure they are performing their duties to the supervisor’s satisfaction. They also help evaluate claims cases to decide whether payment would be justified; if they believe payment is justified, then the supervisor or their subordinates process the claims and submit the payment. These supervisors also meet with legal counsel if a case requires litigation. Another task performed by insurance claims supervisors is interviewing individuals who submit claims, as well as other people who are involved with the case, such as doctors, employers, and witnesses.Read More...
It is important for the supervisor to review cases to make sure that overpayment or underpayment has not occurred. Additionally, it is typical for the supervisor to fill out paperwork and file reports based on the outcome of the claims cases. Insurance claims supervisors usually work in an office setting during regular business hours. They work with their claims adjusters, as well as the people submitting claims, legal counsel, and committee members, among others. Employers typically prefer that insurance claims supervisors have a bachelor’s degree in a related field; some will hire individuals with a high school diploma or equivalent in combination with relevant experience.
Claims Supervisor, Insurance Tasks
- Assist in hiring, training and reviewing performance of staff.
- Perform routine quality control inspections of work performed.
- Supervise the claims staff; interpret and ensure consistence application of departmental and company policies, practices and procedures.
- Investigates out of guidelines inquiries, and ensures compliance to procedures, proper services and settlement of claims.
Common Career Paths for Claims Supervisor, Insurance
Insurance Claims Supervisors who go on to become Insurance Claims Managers may see somewhat stagnant compensation. On average, an Insurance Claims Manager, an upper-level role, pays $72K. A Claims Supervisor or a Claims Manager is a typical transition from an Insurance Claims Supervisor role.
Claims Supervisor Job Listings
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Popular Employer Salaries for Claims Supervisor, Insurance
Those at The Hartford Financial Services Group, Inc. can expect to make the most, with the company offering a median salary of $88K.
Popular Skills for Claims Supervisor, Insurance
Insurance Claims Supervisors who responded to the survey report just a handful of professional skills. Most notably, skills in People Management, Training, Claim Handling, and Insurance are correlated to pay that is above average. Those familiar with Claim Handling also tend to know Training.
Pay by Experience Level for Claims Supervisor, Insurance
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and pay tend to be weakly linked for Insurance Claims Supervisors — those with more experience do not necessarily bring in higher earnings. 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. For Insurance Claims Supervisors, 10 to 20 years of experience on the job amounts to an average salary of $72K. Insurance Claims Supervisors who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $78K.