Insurance Policy Processing Clerks: Salary, Job Description, How To Become One, and Quiz

Stan T.Career, OverviewLeave a Comment

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



Become one

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Salary

Average salary
$42150 per year

Average hourly wage
$20 per hour


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 statesHourlyAnnual
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

Recommended degree level
High School Diploma (or GED)

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
Read more about how to become an Insurance Policy Processing Clerk and the degree, training and education you need.

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

Job satisfaction
66%

Is this job meaningful
40%


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

Best personality for this career
The Organizers and The Entrepreneurs

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.




Learn more about Insurance Policy Processing Clerks

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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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