What Do Insurance Policy Clerks Do: Job Description, Responsibilities and Duties

Stanley TanLeave a Comment



daily life of an Insurance Policy Processing Clerk
are Insurance Policy Processing Clerks happy with their job

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+



Being An Insurance Policy Clerk: What You Really Do


In this job description guide, you will find out what do Insurance Policy Processing Clerks do and what is their typical work day like.

After reading this, you will have a much better idea on whether you will like working as an Insurance Policy Processing Clerk or not.



Job summary

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.

We asked Insurance Policy Clerks how satisfied they are with their job. Here is what they said.

Job satisfaction

66%

How meaningful is this job

40%


66% of them said they were satisfied with their job and 40% said they find that their job makes the world a better place or helps to make someone else’s life better.



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Typical day

On a daily basis, Insurance Policy Clerks Modify, update, and process existing policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance. They Process and record new insurance policies and claims.

1 of the main responsibilities as An Insurance Policy Clerk is to Review and verify data, such as age, name, address, and principal sum and value of property on insurance applications and policies.

Some may also Organize and work with detailed office or warehouse records, maintaining files for each policyholder, including policies that are to be reinstated or cancelled.

In a normal work day, another thing that Insurance Policy Clerks do is they Examine letters from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.

In addition to that, they Correspond with insured or agent to obtain information or inform them of account status or changes..

A typical day for An Insurance Policy Clerk look like this:

Maintain financial or account records.
Maintain operational records.
Verify accuracy of financial or transactional data.

We asked some Insurance Policy Clerks a few questions to find out what else does their work day look like. Here is what we found.

Do you have telephone conversations everyday in this job?96% said yes
Do you have to use email everyday in this job?96% said yes
How important is it to work in a team in this job?73% said very important
Do you have group discussions everyday in this job?53% said yes
Do you have to meet strict deadlines everyday in this job?53% said yes
Do you talk or work with customers everyday in this job?57% said yes
Do you have to deal with angry customers everyday in this job?27% said yes
Do you have to make decisions everyday in this job?61% said yes



Other responsibilities

Besides the “typical day” things that Insurance Policy Clerks do, they Notify insurance agent and accounting department of policy cancellation. They might also Obtain computer printout of policy cancellations or retrieve cancellation cards from file.

A typical week or month for them might include:

Provide information to coworkers.
Obtain personal or financial information about customers or applicants.



Working life

Working hours

Less than 40 hours per week

Working schedule

Regular (Set schedule and routine)


In a typical work week as An Insurance Policy Clerk, you can expect to work Less than 40 hours per week.

Do Insurance Policy Clerks work in an office-style work environment?

Everyday
99.66%

Once a week
0%

Once a month
0%

Once a year
0%

Never
0.34%

Do Insurance Policy Clerks work in a warehouse-style work environment?

Everyday
0%

Once a week
0%

Once a month
0%

Once a year
0.07%

Never
99.93%

Do Insurance Policy Clerks work outdoors?

Everyday
0%

Once a week
0%

Once a month
0%

Once a year
21.13%

Never
78.87%



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.

You will like this career if you are someone who likes following set procedures and routines. They like working with data and details more than with ideas.

You 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.



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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.






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Career type

Office and Administration
Administrative and Information Support
Insurance Services

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Related to Insurance Policy Processing Clerks Job Description

Insurance Policy Processing Clerks job description, what do Insurance Policy Processing Clerks do, typical day for Insurance Policy Processing Clerks, what is it like to work as an Insurance Policy Processing Clerk, how many hours do Insurance Policy Processing Clerks work, day to day work of an Insurance Policy Processing Clerk

Additional resources

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

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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

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