Insurance Policy Processing Clerks: Salary, Job Description, How To Be One and More

Stanley TanLeave a Comment



Insurance Policy Processing Clerks jobs information
pros and cons of being an Insurance Policy Processing Clerk

Insurance Policy Processing Clerks

Other names for this job might include Account Administrator, Account Manager, Administrative Underwriter, Agency Service Coordinator, Agency Service Representative, Associate Financial Representative, Cancellation Clerk, Claims Assistant, Claims Processor, Commercial Customer Service Representative


  • $39560
    Salary
  • 66%
    Job satisfaction
  • Easy
    Becoming one
  • Medium
    Job growth
OwlGuru Rank

C+



Insurance Policy Clerks: Know It All In 1 Minute


In this career summary, you will find out what the job of An Insurance Policy Clerk is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Insurance Policy Processing Clerks process applications for, changes to, reinstatement of, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party’s specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records.

  • Interview clients and take their calls to provide customer service and obtain information on claims.
  • Process, prepare, and submit business or government forms, such as submitting applications for coverage to insurance carriers.
  • Process and record new insurance policies and claims.
  • Correspond with insured or agent to obtain information or inform them of account status or changes.

Read more about what does An Insurance Policy Clerk really do at work and what is it like being and working as one.


Become one

schools for Insurance Policy Clerks

Interested in becoming An Insurance Policy Clerk? Find the right schools that can help you to become one. This service is free thanks to our sponsors.

Click to start becoming an Insurance Policy Processing Clerk




Salary

Average salary
$39560 per year

Hourly wage
$19.02 an hour


Insurance Policy Clerks with little to no experience tend to make between $25830 and $30630 while the more experienced ones make over $46650 per year.

Top 5 paying statesHourlyAnnual
DC$24.7$51370
CT$23.25$48350
NY$22.16$46080
CO$22.13$46040
AK$21.57$44860

1 of the easiest ways to increase your salary as An Insurance Policy Clerk is to move to a higher paying state like DC. Right now, the highest paying states for Insurance Policy Clerks are DC, CT, NY, CO and AK.

However a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be 2x higher than where you are currently at now.

3 other factors that can increase your salary as An Insurance Policy Clerk is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).

Find out how much do successful Insurance Policy Clerks make and if their salary is high when compared to all the other careers.


Requirements

Recommended degree level
High School Diploma (or GED)

We asked other Insurance Policy Clerks what degree they had when they got the job and most of them said they had a High School Diploma followed by Some college courses.

Other than that we also asked them what did they major in and here are the most popular majors that came up.

General Office Occupations and Clerical Services

Another popular question from our readers is what makes An Insurance Policy Clerk successful or would they be good in this career.

Well, we found that most successful Insurance Policy Clerks have these 5 skillsets.

Active Listening
Speaking
Reading Comprehension
Writing
Judgment and Decision Making

In addition to that, 1 common characteristic among successful Insurance Policy Clerks is they are good at Integrity. Here are the top 5 common characteristics.

Integrity
Attention to Detail
Persistence
Cooperation
Self Control
= Hot in-demand that most employers are looking for

Read more about what it really takes to become An Insurance Policy Clerk and the degree, training and education you need


Pros and Cons

Here are some reasons why you should and shouldn’t choose An Insurance Policy Clerk as your career.

PROS
Suitable for people who likes to follow routines
Suitable for people who wants to work in a supportive work environment
This career is perfect for people who love to work indoors.
It is easy to get into this career. Some previous workrelated skill, knowledge, or experience is required for this career.
Short working hours (Less than 40 hours per week)
CONS
Not suitable for people who likes to work with designs
Salary is below average


There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.

A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.



What is the job like

Job satisfaction
66%

Is this job meaningful
40%


Working hours
Less than 40 hours per week

Working schedule
Regular (Set schedule and routine)


On a normal working week Insurance Policy Processing Clerks work Less than 40 hours per week.

66% of Insurance Policy Clerks said they were satisfied with their job and 40% said they feel like their job is making other people’s lives better.



Is this right for me

Best personality for this career
The Organizers and The Persuaders


You can read more about these career personality types here.

People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas.

They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.



How we can help

Start your journey to be An Insurance Policy Clerk

Get the best college for Insurance Policy Clerks


Discover the best colleges for your $$$


Find colleges have the highest earning grads


Yes, I'm sure


Rank: B
Salary: $35540

They locate and notify customers of delinquent accounts by mail, telephone, or personal visit to solicit payment. Duties include receiving payment and posting amount to customer’s account; preparing statements to credit department if customer fails to respond; initiating repossession proceedings or service disconnection; and keeping records of collection and status of accounts.
Rank: C+
Salary: $34500

They perform routine clerical and administrative functions such as drafting correspondence, scheduling appointments, organizing and maintaining paper and electronic files, or providing information to callers.
Rank: C
Salary: $34890

They interview persons desiring to open accounts in financial institutions. Explain account services available to prospective customers and assist them in preparing applications.
Rank: C
Salary: $30820

They perform duties too varied and diverse to be classified in any specific office clerical occupation, requiring knowledge of office systems and procedures. Clerical duties may be assigned in accordance with the office procedures of individual establishments and may include a combination of answering telephones, bookkeeping, typing or word processing, stenography, office machine operation, and filing.
Rank: C
Salary: $27830

They answer inquiries and provide information to the general public, customers, visitors, and other interested parties regarding activities conducted at establishment and location of departments, offices, and employees within the organization.






Trusted by over 50,000 fans

[easy-followers title=”” nofollow=”1″ total_type=”text_before” columns=”2″ template=”tinycolor”]

Career type

Office and Administration
Administrative and Information Support
Insurance Services

Other Careers Like This


Help Others Out



Learn more about Insurance Policy Clerks

Summary (You are here)
Job Description
Salary
Requirements
Is This Right For Me

Study To Be An Insurance Policy Clerk


Related to Insurance Policy Processing Clerks Career Information

Insurance Policy Processing Clerks job description, Insurance Policy Processing Clerks salary, Insurance Policy Processing Clerks information, what is the job of an Insurance Policy Processing Clerk like, pros and cons about Insurance Policy Processing Clerks, colleges and universities for Insurance Policy Processing Clerks, is Insurance Policy Processing Clerks the right career for me, Easy careers to get into, careers in Office and Administration

Additional resources

http://www.bls.gov/OOH/office-and-administrative-support/financial-clerks.htm
http://www.aba.com/
https://www.mba.org/

OwlGuru.com
OwlGuru.com is a career and college finder site. We help students to find a career and college that is right for them.
Insurance Policy Processing Clerks
Written by: Stanley Tan
Insurance Policy Clerks process applications for, changes to, reinstatement of, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records.
3.8 / 5 stars

Leave a Reply

Your email address will not be published. Required fields are marked *