What is an Insurance Policy Processing Clerk?
Insurance Policy Processing Clerk Definition 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.
Daily Life Of an Insurance Policy Processing Clerk
- Organize and work with detailed office or warehouse records, maintaining files for each policyholder, including policies that are to be reinstated or cancelled.
- Interview clients and take their calls to provide customer service and obtain information on claims.
- Notify insurance agent and accounting department of policy cancellation.
- Obtain computer printout of policy cancellations or retrieve cancellation cards from file.
- Calculate premiums, refunds, commissions, adjustments, and new reserve requirements, using insurance rate standards.
- Correspond with insured or agent to obtain information or inform them of account status or changes.
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Qualities of an Insurance Policy Processing Clerk
These are the skills Insurance Policy Processing Clerks say are the most useful in their careers:
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
- Insurance Checker
- Policy Service Coordinator
- Policy Services Representative
- Policy Checker
Insurance Policy Processing Clerk Employment Estimates
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. 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.
What is the Average Salary of an Insurance Policy Processing Clerk
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 |
|---|---|
| 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
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 do I Become an Insurance Policy Processing Clerk?
Learn what Insurance Policy Processing Clerk education requirements there are.
How Long Does it Take to Become an Insurance Policy Processing Clerk?
Where do Insurance Policy Processing Clerks Work?
The table below shows the approximate number of Insurance Policy Processing Clerks employed by various industries.
Related Careers
Those thinking about becoming an Insurance Policy Processing Clerk might also be interested in the following careers:
References:
Image Credit: Jace Armstrong via public domain
More about our data sources and methodologies.
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