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Insurance Policy Processing Clerks
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.
Table of Contents
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.
- Process and record new insurance policies and claims.
- Process, prepare, and submit business or government forms, such as submitting applications for coverage to insurance carriers.
- Correspond with insured or agent to obtain information or inform them of account status or changes.
- Review and verify data, such as age, name, address, and principal sum and value of property on insurance applications and policies.
Salary
Insurance Policy Processing Clerks with little to no experience tend to make between $27540 and $33250 while the more experienced ones can earn over $49330 per year.
| Top 5 paying states | Hourly | Annual |
|---|---|---|
| DC | $27 | $56,710 |
| CT | $24 | $50,300 |
| MA | $23 | $48,820 |
| NY | $23 | $48,740 |
| CO | $23 | $48,700 |
One of the easiest ways to increase your salary as an Insurance Policy Processing Clerk is to move to a higher paying state like DC. Right now, the highest paying states for Insurance Policy Processing Clerks are DC, CT, MA, NY and CO.
However, a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be twice as high than where you are currently at now.
Three other factors that can increase your salary as an Insurance Policy Processing Clerk is the degree you hold, the industry you work in, and lastly the company you work for.
Requirements
We asked other Insurance Policy Processing Clerks what degree they had when they got the job and most of them said they had a High School Diploma followed by an Associate’s Degree.
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 |
Pros and Cons
Here are some of the pros and cons of being an Insurance Policy Processing Clerk.
| 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 work-related 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 |
What is the job like
66% of Insurance Policy Processing 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
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.
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Related 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, careers in Office and Administration
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