Insurance claims analysts are responsible for a variety of tasks, including reviewing and analyzing claims and expenses, processing new claims and completing old ones, and acting as a liaison among the company, attorneys, insurance brokers, carriers and offices. They are also in charge of preparing and filing legal documents, cataloging files for storage, handling personal issues for their company CEO, and supervising employees. The insurance claims analyst also interviews, hires, and trains employees, as well as addresses any employee complaints and problems. These analysts generally work for insurance companies specifically or for companies that need that services.
Minimum education requirements for this position include either a high school diploma or equivalent or an associate's degree. However, many employers prefer a bachelor's degree and some business experience. Extra training in a specialized field such as medical billing or automotive technology is preferable in positions that deal with these specialized issues. Insurance claims analysts should also be good at problem solving, written and oral communication, management, decision-making, and planning. In all tasks, they must adhere to safety standards and regulations.
Insurance claims analysts typically work full time during regular business hours. However, it is not uncommon for them work do overtime in the evenings or even on the weekends. There is usually little to no travel required.
Insurance Claims Analyst Tasks
Reviews and processes claim transactions, reports, monitors charges and payments.
Identifies coordination of benefits with other insurers.
Resolves claims processing errors and issues.
Completes analysis of claims processing including payments and compliance.