Summary: An insurance claims manager is the one who approves or rejects insurance claims. He investigates the scenario and matches the claims made to the ones their company policy covers. He decides whether a person should be granted full or partial benefit, depending on the claim made.
Duties: Insurance claims managers are usually seen talking to clients who forward a claim to them. They normally interview their clients as well as go over the paperwork submitted to them. They figure out if the claim submitted matches any of the claims the company covers. In cases like this, the insurance claims manager puts the request on hold and contacts proper authorities to validate the claim. He also makes files reports and hands it to the upper management for them to conduct further studies and investigations. If evidence of fabrication and fraud are not found, the insurance claims manager decides whether to award the client with the insurance claim, or not.
Education and Training Requirements: An insurance claims manager has to have at least a bachelor’s degree in finance, business administration and other business-related courses. In some cases, a bachelor’s degree is not needed as long as the applicant has a couple of years experience with an insurance firm.
Knowledge and Skills Requirements: To become a successful insurance claims manager, one must have good judgment, very straight forward and good in investigating. He must be personable and have excellent communication skills, both oral and written. This is because he will need to speak to the clients who submit claims as well as upper management. He will also need to file reports, so he must be able to write with proper grammar. A vast knowledge of the company, its policies and insurance claims are also very important.
Working Conditions: Insurance claims managers are usually found working as the “front liners” of an insurance company or firm. They work the standard 40 hours a week, or as long as their offices are open. They may have to work longer hours during cases when fraud occurs, and may need to travel to investigate.
Salary: The average salary for an insurance claims manager is $49,000 annually. Their average salary is dictated by its industry and location. It differs per company. Usually, the more experience you have, the higher the salary and the more benefits you receive.