What You Need to Know About Insurance Policy Processing Clerk
Position 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.
Insurance Policy Processing Clerk Responsibilities
- Process, prepare, and submit business or government forms, such as submitting applications for coverage to insurance carriers.
- Notify insurance agent and accounting department of policy cancellation.
- Transcribe data to worksheets and enter data into computer for use in preparing documents and adjusting accounts.
- Check computations of interest accrued, premiums due, and settlement surrender on loan values.
- Process and record new insurance policies and claims.
- Review and verify data, such as age, name, address, and principal sum and value of property on insurance applications and policies.
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What Skills Do You Need to Work as an Insurance Policy Processing Clerk?
When polled, Insurance Policy Processing Clerks say the following skills are most frequently used in their jobs:
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
- Insurance Processor
- Reinsurance Clerk
- Account Administrator
- Client Process Specialist
- Policy Title Typist
What Kind of Insurance Policy Processing Clerk Job Opportunities Are There?
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. Due to new job openings and attrition, there will be an average of 35,600 job openings in this field each 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.
Average Insurance Policy Processing Clerks Salary
The salary for Insurance Policy Processing Clerks ranges between about $27,540 and $60,500 a year.
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 |
|---|---|
| Alabama | $37,000 |
| Alaska | $42,450 |
| Arizona | $42,760 |
| Arkansas | $35,960 |
| California | $42,690 |
| Colorado | $48,700 |
| Connecticut | $50,300 |
| Delaware | $40,540 |
| District of Columbia | $56,710 |
| Florida | $39,150 |
| Georgia | $46,190 |
| Hawaii | $40,270 |
| Idaho | $40,410 |
| Illinois | $43,540 |
| Indiana | $39,740 |
| Iowa | $43,500 |
| Kansas | $40,350 |
| Kentucky | $34,370 |
| Louisiana | $35,100 |
| Maine | $40,180 |
| Maryland | $47,600 |
| Massachusetts | $48,820 |
| Michigan | $38,310 |
| Minnesota | $44,700 |
| Mississippi | $33,420 |
| Missouri | $40,100 |
| Montana | $39,020 |
| Nebraska | $39,410 |
| Nevada | $40,700 |
| New Hampshire | $44,500 |
| New Jersey | $47,180 |
| New Mexico | $37,360 |
| New York | $48,740 |
| North Carolina | $43,180 |
| North Dakota | $41,610 |
| Ohio | $39,830 |
| Oklahoma | $42,120 |
| Oregon | $43,950 |
| Pennsylvania | $42,590 |
| Rhode Island | $45,300 |
| South Carolina | $36,850 |
| South Dakota | $33,540 |
| Tennessee | $37,880 |
| Texas | $39,950 |
| Utah | $40,940 |
| Vermont | $41,420 |
| Virginia | $42,030 |
| Washington | $45,810 |
| West Virginia | $33,710 |
| Wisconsin | $40,340 |
| Wyoming | $36,190 |
Tools & Technologies Used by Insurance Policy Processing Clerks
Although they’re not necessarily needed for all jobs, the following technologies are used by many Insurance Policy Processing Clerks:
- 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
What kind of Insurance Policy Processing Clerk requirements are there?
How many years of work experience do I need?
Where Insurance Policy Processing Clerks Are Employed
Below are examples of industries where Insurance Policy Processing Clerks work:
You May Also Be Interested In…
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References:
Image Credit: Jace Armstrong via public domain
More about our data sources and methodologies.
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