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Insurance Claims Specialist Salary

Insurance Claims Specialists in the United States may have to scrimp and save; the median compensation is $50K per year. Including potential bonuses and profit sharing proceeds (more than $5K for each in exceptional cases) overall income bottoms out near $26K and hits $73K on the high end. This group's pay is mainly influenced by location, followed by the company and years of experience. Female Insurance Claims Specialists make up most of the survey respondents at 74 percent. Most Insurance Claims Specialists like their work and job satisfaction is high. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The information for this snapshot was generated by responses to the PayScale salary survey.
$31,522 - $78,106
(Median)
32K
39K
50K
65K
78K
MEDIAN: $50,463
10%
25%
50%
75%
90%

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$10.98 - $20.29
(Median)
11
13
15
17
20
MEDIAN: $15.00
10%
25%
50%
75%
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$27K$54K$81K
Salary
$31,522 - $78,106  
   
Bonus
$0.00 - $5,094  
Profit Sharing
$406.95 - $5,000  
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).
)
$25,928 - $72,504  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 584
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$13$26$39
Hourly Rate
$10.98 - $20.29  
   
Overtime
$13.01 - $33.52  
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$26K$52K$78K
Bonus
$0.00 - $5,094  
   
Profit Sharing
$406.95 - $5,000  
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).
)
$25,928 - $72,504  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 458
United States (change)

Job Description for Insurance Claims Specialist

The insurance claims specialist's primary role involves handling the paperwork for insurance customers and the companies they work for. Insurance claims specialists explain insurance coverage to customers and potential customers, as well. They also provide guidance to customers when a claim is made, such as directing them to mechanics or repairmen whom the insurance company will work with.

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Insurance Claims Specialist Tasks

  • Analyzes and interprets insurance policy in order to answer client's questions.
  • Works with insurance provider to obtain temporary car, house, or funds for the client.
  • Assists client in filing claims and handling other claim related correspondence.
  • Assesses damages and meets with insurance personnel to receive compensation for the client.

Common Career Paths for Insurance Claims Specialist


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Insurance Claims Specialists usually experience a big boost in pay as they move up the career ladder to upper-level roles like Insurance Claims Manager. The average pay for a Insurance Claims Manager is $72K annually. Insurance Claims Specialists go on to become Medical Billing Specialists more often than anything even though typical pay for the role is $31K. Insurance Claims Specialists who move into an Insurance Claims Supervisor role, another well-traveled path for those in this field, tend to find salaries of $61K.

Insurance Claims Representative Job Listings

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Popular Employer Salaries for Insurance Claims Specialist


Allstate Insurance Company, Liberty Mutual Insurance Group, Nationwide Mutual Insurance Company, State Farm Insurance Company, and Allstate are among the top companies that take on many Insurance Claims Specialists. Those at State Farm Insurance Company can expect to make the most, with the company offering a median salary of $60K.

Popular Skills for Insurance Claims Specialist


Survey results imply that Insurance Claims Specialists put a diverse skill set to use. Most notably, facility with Litigation Case Management, Negotiation, and Claim Handling are correlated to pay that is significantly above average, leading to increases of 60 percent, 35 percent, and 3 percent, respectively. Medical Coding and Insurance, on the other hand, are typically associated with much lower pay. Those familiar with Claim Handling also tend to know Customer Service.

Pay by Experience Level for Insurance Claims Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Insurance Claims Specialists generally obtain higher compensation for more plentiful past experience. Relatively untried employees who have less than five years' experience have a median salary of $34K. Those who have been around for five to 10 years can expect to take home more — $41K on average. Insurance Claims Specialists claiming one to two decades of experience make an estimated median of $47K. Insurance Claims Specialists who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $61K.

Pay Difference by Location


For Insurance Claims Specialists, New York provides a pay rate that is 121 percent greater than the national average. Insurance Claims Specialists will also find cushy salaries in Chicago (+52 percent), Orlando (+29 percent), Dallas (+21 percent), and Pittsburgh (+20 percent). Trailing the national average by 16 percent, San Antonio is the market with the smallest paychecks. Houston and Indianapolis are a couple other places where companies are known to pay below the median — salaries are 14 percent lower and 10 percent lower, respectively.

Related Job Salaries

Experience Affects Insurance Claims Specialist Salaries




National Average
$40,000


Skills That Affect Insurance Claims Specialist Salaries

Litigation Case Management
up arrow 60%


Claim Handling
up arrow 3%

National Average
$40,000

Customer Service
up arrow 3%



Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 225 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
7%
1-4 years
30%
5-9 years
22%
10-19 years
25%
20 years or more
16%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 73%
vision benefits Vision: 57% employee benefits None: 13%