Insurance Claims Representative Salary
Job Description for Insurance Claims Representative
Insurance claims representatives take claim information from customers when they have been in accidents or need to make additional claims; the insurance may be in automotive, life, or real estate. These representatives gather all of the information needed in order to file a claim and help the customer determine their next steps.Read More...
These representatives may refer clients to investigative departments so that the car or house involved in the claim can be analyzed to determine whether the customer is entitled to a claim. In some jobs, the representative will also determine the conclusion of loss based on the customer's coverage and what damages have been encountered. This sometimes involves negotiating with the insurance companies of other parties involved.
Some insurance companies may prefer applicants with prior experience, while others will provide on-the-job training for those with little or no experience in the field. Strong customer service skills are important so customers feel at ease in the process and will continue to use the company's services. Some customers may be traumatized, so it is important to be sensitive to this, as well.
This job often requires working in a busy and noisy call center environment, so it is important to be able to multitask and work well under stress. Computer skills are required in order to input and process claims, and a high school diploma is usually a minimum requirement.
Insurance Claims Representative Tasks
- Performs system functions such as entering information and updates into database.
- Provides claim status information to clients.
- Verifies accuracy and completeness of insurance claims.
- Conducts investigations to determine coverage for claims.
Common Career Paths for Insurance Claims Representative
Though not the most common occurrence, Insurance Claims Representatives sometimes become Insurance Claims Managers, where the average income is $72K per year. Career advancement for the typical Insurance Claims Representative often leads to becoming a Claims Examiner or Investigator or an Insurance Claims Specialist; median salaries in these positions are $5K higher and $1K higher, respectively.
Insurance Claims Representative Job Listings
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Popular Employer Salaries for Insurance Claims Representative
Known for taking on a considerable number of Insurance Claims Representatives, The Hartford Financial Services Group, Inc., Geico, Farmers Insurance Group, Liberty Mutual Insurance Group, and State Farm Insurance Company are leading firms in the industry. Those at Amica Insurance can expect to make the most, with the company offering a median salary of $54K. Those in search of high salaries should also consider The Hartford Financial Services Group, Inc., Farmers Insurance Group, and AAA Insurance Company, top-paying firms where Insurance Claims Representatives rake in a $46K, $42K, or $42K, respectively.
Geico is infamous for dishing out the smallest paychecks in the area (the median in that office is $36K), but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $25K while workers on the upper end may rake in $49K. State Farm Insurance Company, Liberty Mutual Insurance Group, and AAA Insurance Company are a few other employers known for handing out relatively lightweight salaries ($37K, $40K, and $42K respectively).
Popular Skills for Insurance Claims Representative
Insurance Claims Representatives usually report a few specific skills. Fortunate workers who know Negotiation can expect a significant pay bump, scoring salaries 22 percent above average. Most people familiar with Claim Handling also know Negotiation.
Pay by Experience Level for Insurance Claims Representative
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Insurance Claims Representatives, more experience generally translates to higher pay. People who have worked for fewer than five years earn around $37K, and folks with five to 10 years of experience see a modestly higher median of $40K. Insurance Claims Representatives with one to two decades of relevant experience report an average salary of approximately $46K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $60K on average.
Pay Difference by Location
For Insurance Claims Representatives, busy Aurora offers a higher-than-average pay rate, 37 percent above the national average. Insurance Claims Representatives can also look forward to large paychecks in cities like Richmond (+32 percent), Atlanta (+29 percent), Sacramento (+18 percent), and New York (+13 percent). Insurance Claims Representatives in Nashville take home the lowest salaries, earning a whopping 25 percent less than the national average. Employers also pay below the national average in Cincinnati (16 percent lower) and Tampa (13 percent lower).