What You Need to Know About 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.
List of Insurance Policy Processing Clerk Job Duties
- Notify insurance agent and accounting department of policy cancellation.
- Modify, update, and process existing policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance.
- Calculate premiums, refunds, commissions, adjustments, and new reserve requirements, using insurance rate standards.
- Obtain computer printout of policy cancellations or retrieve cancellation cards from file.
- 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.
What Skills Do You Need to Work as an Insurance Policy Processing Clerk?
Insurance Policy Processing Clerks state the following job skills are important in their day-to-day work.
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.
Other Insurance Policy Processing Clerk Job Titles
- Premium Representative
- Field Secretary
- Insurance Specialist
- Account Administrator
- Insurance Checker
Job Outlook for Insurance Policy Processing Clerks
In the United States, there were 308,500 jobs for Insurance Policy Processing Clerk in 2016. 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. There will be an estimated 35,600 positions for Insurance Policy Processing Clerk per year.
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.
Insurance Policy Processing Clerk Salary
The typical yearly salary for Insurance Policy Processing Clerks is somewhere between $27,540 and $60,500.
Insurance Policy Processing Clerks who work in District of Columbia, Connecticut, or Massachusetts, make the highest salaries.
How much do Insurance Policy Processing Clerks make in each U.S. state?
|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
How to Become an Insurance Policy Processing Clerk
Individuals working as an Insurance Policy Processing Clerk have obtained the following education levels:
How Long Does it Take to Become an Insurance Policy Processing Clerk?
Where do Insurance Policy Processing Clerks Work?
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.
|Request Info||Southern New Hampshire University You have goals. Southern New Hampshire University can help you get there. Whether you need a bachelor's degree to get into a career or want a master's degree to move up in your current career, SNHU has an online program for you. Find your degree from over 200 online programs. Learn More >|