What Does an Insurance Claims and Policy Processing Clerk Do?
It’s a insurance claims and policy processing clerk’s job to make modifications to an existing insurance policy, process an all-new policy and handle claims forms. Clerks are also in charge of contacting policyholders for new information and ensuring their information is complete and correct on company records, applications and related forms. The job also entails keeping insurance policies and records updated, in order to make sure they accurately reflect any modifications a policyholder might make.
Insurance Claims and Policy Processing Clerk Skills and Abilities
Specific skills an insurance claims and policy processing clerk needs to carry out his or her job include active listening, critical thinking, reading comprehension and speaking. Clerks should also be able to understand oral and written communication with policyholders, coworkers and anyone else they need to interact with in order to perform their duties. Additional abilities include speech recognition, speech clarity and near vision.
Insurance Claims and Policy Processing Clerk Duties
Standard duties for claims clerks consist of preparing insurance forms, entering information into databases, utilizing insurance rating systems, transmitting claims, supplying policyholder with customer service and calculating claims. An insurance claims and policy processing clerk might also have to calculate the price of services or goods, gather data, ensure policyholders understand their coverage and prepare documents. One thing to take note of is that a claims clerk and a policy processing clerk don’t have the same job duties. For instance, a policy processing clerk is tasked with submitting government or business forms, ensuring records are well-organized, examining policyholder and agent records, and reviewing interest accrued computations. Policy processing clerks also calculate financial data, draft business correspondence and collect necessary information through interviews.
Insurance Claims and Policy Processing Clerk Tools and Technology
Examples of tools commonly used by insurance claims and policy processing clerks include:Desktop and personal computersDesktop calculatorsDictation machinesStandard technology used on the job includes:Microsoft Word and other word processing programsAccounting and billing softwareAlpha software and other types of database user interface and query softwareInternet browsersSpreadsheet software, such as Microsoft Excel
Education and Training for Insurance Claims and Policy Processing Clerks
A majority of clerks have at least a high school diploma or its equivalent, but earning a bachelor’s degree or completing college courses without earning a degree can also prove favorable for job prospects. There aren’t any specific requirements regarding the amount of work experience a clerk needs in order to qualify for a job position, and once hired employees often receive some degree of on-the-job training.
Insurance Claims and Policy Processing Clerks Salary
In 2014, the lowest 10% of insurance claims and policy processing clerks in the United States earned around $25,500 a year, the top 90% made approximately $55,900 and average earnings were about $36,700. Specific earnings vary from company to company and state to state. For example, the lowest 10% of clerks in the state of California made $27,000 in 2014 while the top 90th percentile took home $59,000.
Insurance Claims and Policy Processing Clerks Jobs by Geography
Insurance claims and policy processing clerks are predicted to experience an eight percent job growth rate between 2012 and 2022. States that are expected to see the most change include Arizona, Utah and North Carolina. Those that are expected to experience the smallest rate of change include Vermont, Oklahoma and Maine. States that are expected to have a decrease in the percentage of clerks are Connecticut (-2%), New York (-2%) and Maryland (-4%). As far as salary is concerned, locations in which clerks received the highest average compensation in 2014 are the District of Columbia ($49,000), Connecticut ($44,700) and Alaska ($44,500). States where insurance claims and policy processing clerks earned the least during the same year include Mississippi ($31,000), West Virginia ($29,600) and South Dakota ($28,000).