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Insurance Policy Processing Clerks

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What is 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.

List of Insurance Policy Processing Clerk Job Duties

  • Correspond with insured or agent to obtain information or inform them of account status or changes.
  • Compare information from application to criteria for policy reinstatement and approve reinstatement when criteria are met.
  • Collect initial premiums and issue receipts.
  • Examine letters from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.
  • Transcribe data to worksheets and enter data into computer for use in preparing documents and adjusting accounts.
  • Compose business correspondence for supervisors, managers, and professionals.

Insurance Policy Processing Clerk Needed Skills

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.

Other Insurance Policy Processing Clerk Job Titles

  • Agency Service Representative
  • Special Certificate Dictator
  • Policy Analyst
  • Processing Clerk
  • Account Administrator

Are There Job Opportunities for Insurance Policy Processing Clerks?

In the United States, there were 308,500 jobs for Insurance Claims and Policy Processing Clerks in 2016.

New jobs are being produced at a rate of 11.1% which is lower than average. The Bureau of Labor Statistics predicts 34,100 new jobs for Insurance Policy Processing Clerks by 2026. Due to new job openings and attrition, there will be an average of 35,600 job openings in this field each year.

Forecasted Number of Jobs for Insurance Policy Processing Clerks in U.S.

The states with the most job growth for Insurance Claims and Policy Processing Clerks are Texas, California, and Florida.

Watch out if you plan on working in Alaska, Vermont, or Maine. These states have the worst job growth for this type of profession.

Salary for Insurance Policy Processing Clerks

The salary for Insurance Claims and Policy Processing Clerks ranges between about $27,540 and $60,500 a year. An Insurance Policy Processing Clerk median salary is $39,660.

Salary Ranges for Insurance Policy Processing Clerks

Below is a list of the median annual salaries for jobs of this type in different U.S. states.

Annual Mean Salary by State
State Annual Mean Salary

District of Columbia

$56,710

Connecticut

$50,300

Massachusetts

$48,820

New York

$48,740

Colorado

$48,700

Maryland

$47,600

New Jersey

$47,180

Georgia

$46,190

Washington

$45,810

Rhode Island

$45,300

Minnesota

$44,700

New Hampshire

$44,500

Oregon

$43,950

Illinois

$43,540

Iowa

$43,500

North Carolina

$43,180

Arizona

$42,760

California

$42,690

Pennsylvania

$42,590

Alaska

$42,450

Oklahoma

$42,120

Virginia

$42,030

North Dakota

$41,610

Vermont

$41,420

Utah

$40,940

Nevada

$40,700

Delaware

$40,540

Idaho

$40,410

Kansas

$40,350

Wisconsin

$40,340

Hawaii

$40,270

Maine

$40,180

Missouri

$40,100

Texas

$39,950

Ohio

$39,830

Indiana

$39,740

Nebraska

$39,410

Florida

$39,150

Montana

$39,020

Michigan

$38,310

Tennessee

$37,880

New Mexico

$37,360

Alabama

$37,000

South Carolina

$36,850

Wyoming

$36,190

Arkansas

$35,960

Louisiana

$35,100

Kentucky

$34,370

West Virginia

$33,710

South Dakota

$33,540

Mississippi

$33,420

What Tools do Insurance Policy Processing Clerks Use?

Although they’re not necessarily needed for all jobs, the following technologies are used by many Insurance Policy Processing Clerks:

  • Microsoft PowerPoint
  • Microsoft Access
  • Medical procedure coding software
  • Microsoft Word
  • Microsoft Office
  • Healthcare common procedure coding system HCPCS
  • Microsoft Excel
  • Data entry software
  • Microsoft Outlook
  • Medical condition coding software

How do I Become an Insurance Policy Processing Clerk?

What kind of Insurance Policy Processing Clerk requirements are there?

Insurance Policy Processing Clerk Degree Level

What work experience do I need to become an Insurance Policy Processing Clerk?

Insurance Policy Processing Clerk Work Experience

Where Insurance Policy Processing Clerks Are Employed

Insurance Policy Processing Clerk Sectors

Similar Careers

Those thinking about becoming Insurance Policy Processing Clerks might also be interested in the following careers:

  • Interviewers, Except Eligibility and Loan
  • Cargo and Freight Agents

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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