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Finance
Insurance Policy Processing Clerk
What They Do
About This Career
Processes new insurance policies, modifications to existing policies, and claims forms. Obtains information from policyholders to verify the accuracy and completeness of information on claims forms, applications and related documents, and company records. Updates existing policies and company records to reflect changes requested by policyholders and insurance company representatives.
This career is part of the Finance cluster Insurance pathway.
A person in this career:
- Prepares insurance claim forms or related documents, and reviews them for completeness.
- Calculates amount of claim.
- Posts or attaches information to claim file.
- Transmits claims for payment or further investigation.
- Contacts insured or other involved persons to obtain missing information.
- Reviews insurance policy to determine coverage.
- Processes and records new insurance policies and claims.
- Organizes or works with detailed office or warehouse records, using computers to enter, access, search or retrieve data.
- Provides customer service, such as limited instructions on proceeding with claims or referrals to auto repair facilities or local contractors.
- Corresponds with insured or agent to obtain information or to inform them of account status or changes.
Working Conditions and Physical Demands
People who do this job report that:
- You would sit most of the time. There's some walking and standing. You may have to lift and carry things like books, papers or tools weighing 10 lbs. or less.
- Work in this occupation requires being inside most of the time
- Work in this occupation involves making repetitive motions more than one-third of the time
- Work in this occupation involves sitting more than one-third of the time
Working in this career involves (physical activities):
- Seeing clearly up close
- Speaking clearly enough to be able to be understood by others
- Identifying and understanding the speech of another person
Work Hours and Travel
- Regular working hours and limited travel
Specialty and Similar Careers
Careers that are more detailed or close to this career:
- Claims Adjudicator
- Claims Analyst
- Claims Technician (Claims Tech)
- Policy Analyst — Researches and compares possible solutions to a broad range of problems, from stemming school dropout rates and ensuring access to affordable health care to protecting the nation from terrorism and ensuring stable economic growth.
- Underwriting Assistant
- Insurance Analyst — Reviews individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- Claims Processor
- Claims Representative (Claims Rep)
- Claims Customer Service Representative (Claims CSR)
- Claims Clerk
Every year the U.S. Department of Labor conducts national surveys of wage data by occupation in every state and in all industry divisions. These surveys are conducted through the Occupational Employment Statistics (OES) program.
The statistics collected for one year are published the next fall. For example, 2013 wage information was published in the fall of 2014.
There are over 800 occupations in the surveys, and these occupations cover the entire U.S. labor market. The surveys ask for reports in a scale of ranges for both hourly wages and annual wages.
In many cases, these occupations are broad enough to cover many more detailed specialties of an occupation. A specific occupation may be included in a broader occupational category for which labor market data is available. When you look at the statistics for a broad category, be aware that the salary data for a specific career may differ.
For more details about how wage information is collected and calculated by the U.S. Department of Labor, visit their website at http://www.bls.gov/bls/blswage.htm.
Every year the U.S. Department of Labor conducts a national survey of over 400,000
employers in every state and in all industry divisions. This survey is conducted
through the Occupational Employment Statistics (OES) program. Every other year the
department publishes outlook information based on these surveys.
Each outlook period covers 10 years. For example, in 2003 the outlook information
was published for 2004-2014. Employers are asked to report the number of employees
in about 770 different occupations that cover the entire U.S. labor market.
From this information, staffing patterns for different industries are established.
Industry growth is projected into the future based on past trends and current economic
conditions. Industry staffing patterns are then applied to the industry projections
to obtain occupational projections.
In many cases, these occupations are broad enough to cover many more detailed specialties
of an occupation. A specific occupation may be included in a broader occupational
category for which labor market data is available. When you look at the statistics
for a broad category, be aware that the employment data for a specific field may
differ.
For more details about how employment information is collected and calculated by
the U.S. Department of Labor, visit their website at http://stats.bls.gov/news.release/ocwage.tn.htm.
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