Insurance Claims Consultant Salary
An Insurance Claims Consultant earns an average salary of $73,568 per year.
|Salary||$46,889 - $105,850|
|Bonus||$983 - $10,241|
|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).)
|$40,622 - $109,884|
|Bonus||$983 - $10,241|
|Total Pay (||$40,622 - $109,884|
Job Description for Insurance Claims Consultant
Insurance claims consultant perform a specialized role in the insurance industry. In addition to performing all the common duties of an insurance claims adjuster, they must also analyze complex insurance cases to assist their employers with preventing fraud, as well as provide expert testimony in a court of law as needed. While some of their work is performed in a standard office environment during regular business hours, there is generally some travel required (at least locally) to fulfill such duties as site inspections and court testimony.Read More...
As with other positions in the insurance industry, insurance claims consultants must be properly licensed by their state as an insurance agent. However, these consultants have expanded duties beyond those of a regular insurance agent, and as such, generally have many years’ experience in not only insurance, but also an additional field such as forensic accounting, auditing, or financial analysis. There are also many designations desirable to employers, such as CPCU (Chartered Property Casualty Underwriter) and ARM (Associate in Risk Management).
Insurance claims consultants must have excellent interpersonal skills and work with a wide variety of professionals such as lawyers, adjusters, senior managers, and clients. Excellent oral and written communication skills are essential, as are basic computer proficiency and high-level analysis skills.
Insurance Claims Consultant Tasks
- Maintain relationships and communication with carriers and clients.
- Prepare and present claims reviews and plans; negotiate settlements.
- Review and process new claims reports and court decisions.
- Support claims process through research, expertise, and internal and external communication.
Pay by Experience Level for Insurance Claims Consultant
Pay by Experience for an Insurance Claims Consultant has a positive trend. An entry-level Insurance Claims Consultant with less than 5 years of experience can expect to earn an average total compensation of $52,000 based on 31 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Claims Consultant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $70,000 based on 22 salaries. An experienced Insurance Claims Consultant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $80,000 based on 24 salaries. An Insurance Claims Consultant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $85,000 based on 26 salaries.
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Key Stats for Insurance Claims Consultant
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