DETAILED OCCUPATION DATA
43-9041 Insurance Claims and Policy Processing Clerks
Occupational Description:
Process new insurance policies, modifications to existing policies, and claims forms. Obtain information from policyholders to verify the accuracy and completeness of information on claims forms, applications and related documents, and company records. Update existing policies and company records to reflect changes requested by policyholders and insurance company representatives. Excludes ?Claims Adjusters, Examiners, and Investigators? (13-1031).| Percentiles | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Geography | Employment | Emp SE* | Mean | Mean SE* | 10th | 25th | Median | 75th | 90th |
| Seven County Mpls-St Paul, MN | 5,900 | 763 | $23.03/hr | $0.35/hr | $17.12/hr | $20.04/hr | $22.73/hr | $26.12/hr | $30.09/hr |
| Minnesota | 6,790 | 774 | $22.79/hr | $0.34/hr | $16.79/hr | $19.72/hr | $22.52/hr | $25.84/hr | $30.02/hr |
| U S | 257,000 | 4,883 | $21.06/hr | $0.08/hr | $13.81/hr | $16.56/hr | $19.83/hr | $24.59/hr | $30.12/hr |
| *SE = Standard error, a measure of the statistical reliability of the estimate. | |||||||||
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| Occupation (click title for details) | OES | Projections | |
|---|---|---|---|
| Employment | Median Wage | % Change 2020 - 2030 | |
| Customer Service Representatives | 44,180 | $19.89/hr | -3.9% |
| Office Clerks, General | 32,070 | $19.27/hr | -3.4% |
| Receptionists and Information Clerks | 11,280 | $15.35/hr | 0.0% |
| Claims Adjusters, Examiners, and Investigators | 5,410 | $31.28/hr | -5.8% |
| Billing and Posting Clerks and Machine Operators | 5,380 | $21.83/hr | -1.1% |
| Order Clerks | 1,610 | $17.01/hr | -21.4% |
| Procurement Clerks | 730 | $21.53/hr | -6.0% |
| New Accounts Clerks | 480 | $19.00/hr | -13.1% |
| Credit Authorizers, Checkers, and Clerks | 390 | $25.20/hr | -11.7% |
| Insurance Appraisers, Auto Damage | N/A | $28.62/hr | N/A |
Tasks for Insurance Claims and Policy Processing Clerks
- Contacts insured or other involved persons for missing information.
- Calculates amount of claim.
- Transmits claims for payment or further investigation.
- Prepares and reviews insurance-claim forms and related documents for completeness.
- Reviews insurance policy to determine coverage.
- Posts or attaches information to claim file.
- Reviews and verifies data, such as age, name, address, and principal sum and value of property on insurance applications and policies.
- Checks computations of interest accrued, premiums due, and settlement surrender on loan values.
- Corresponds with insured or agent to obtain information or inform them of status or changes to application of account.
- Receives computer printout of policy cancellations or obtains cancellation card from file.
- Collects initial premiums, issues receipts, and compiles periodic reports for management.
- Transcribes data to worksheets and enters data into computer for use in preparing documents and adjusting accounts.
- Notifies insurance agent and accounting department of policy cancellation.
- Calculates premiums, refunds, commissions, adjustments, and new reserve requirements, using insurance rate standards.
- Examines letters from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.
- Compares information from application to criteria for policy reinstatement and approves reinstatement when criteria are met.
