Life As an Insurance Policy Processing Clerk
Career Description 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.
What Do Insurance Policy Processing Clerks Do On a Daily Basis?
- Correspond with insured or agent to obtain information or inform them of account status or changes.
- Compose business correspondence for supervisors, managers, and professionals.
- Examine letters from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.
- Obtain computer printout of policy cancellations or retrieve cancellation cards from file.
- Calculate premiums, refunds, commissions, adjustments, and new reserve requirements, using insurance rate standards.
- Process and record new insurance policies and claims.
Insurance Policy Processing Clerk Skills
These are the skills Insurance Policy Processing Clerks say are the most useful in their careers:
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking: Talking to others to convey information effectively.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Related Job Titles for this Occupation:
- Policy Service Coordinator
- Cancellation Clerk
- Revival Clerk
- Insurance Processor
- Policy Analyst
Job Outlook for Insurance Policy Processing Clerks
There were about 308,500 jobs for Insurance Policy Processing Clerk in 2016 (in the United States). New jobs are being produced at a rate of 11.1% which is above the national average. The Bureau of Labor Statistics predicts 34,100 new jobs for Insurance Policy Processing Clerk by 2026. The BLS estimates 35,600 yearly job openings in this field.
The states with the most job growth for Insurance Policy Processing Clerk are Utah, Arizona, and Iowa. Watch out if you plan on working in Maine, Vermont, or Oregon. These states have the worst job growth for this type of profession.
How Much Does an Insurance Policy Processing Clerk Make?
The average yearly salary of an Insurance Policy Processing Clerk ranges between $27,540 and $60,500.
Insurance Policy Processing Clerks who work in District of Columbia, Connecticut, or Massachusetts, make the highest salaries.
Below is a list of the median annual salaries for Insurance Policy Processing Clerks in different U.S. states.
|State||Annual Mean Salary|
|District of Columbia||$56,710|
What Tools do Insurance Policy Processing Clerks Use?
Below is a list of the types of tools and technologies that Insurance Policy Processing Clerks may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Data entry software
- Word processing software
- Spreadsheet software
- Database software
- Microsoft Internet Explorer
- Medical procedure coding software
- Healthcare common procedure coding system HCPCS
- Medical condition coding software
- IBM Lotus Notes
- Novell GroupWise
- Insurance rating software
Becoming an Insurance Policy Processing Clerk
Are there Insurance Policy Processing Clerks education requirements?
How Long Does it Take to Become an Insurance Policy Processing Clerk?
Who Employs Insurance Policy Processing Clerks?
Below are examples of industries where Insurance Policy Processing Clerks work:
Those interested in being an Insurance Policy Processing Clerk may also be interested in:
More about our data sources and methodologies.
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