The following article discusses the career path of Insurance Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Insurance Managers.
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Job Duties
Insurance managers work together with claims adjusters in order to make sure that claims are properly handled. Periodically, they review the work done by other adjusters to ensure that all claims have been correctly processed. They usually do not perform any claims adjusting themselves, instead holding responsibility for the work of the team they supervise. This also means they must ensure all other adjusters follow the relevant guidelines.
As these managers have line management responsibilities, they also recruit, train, and retain employees. This includes monitoring whether everyone is aware of policy changes and organizing relevant continuous education. They must answer questions posed by their team members, usually in relation to unusual circumstances. This also means that they have to understand the different policies in depth, as well as the factors that influence them.
Other job duties of an insurance manager are:
- To oversee a business unit’s claims activity
- To manage consultations and investigations with legal counsel
- To investigate inquiries that are out of the ordinary, making sure that they are compliant with claims settlement and other services’ policies and procedures
- To gather and report on different data and metrics, reporting back to senior management so they can put new policies and procedures in place
Where We Work
According to the U.S. Bureau of Labor Statistics, there were 311,100 claims adjusters, examiners, and investigators in 2016. The largest employers of these professionals were:
- Direct insurance (except life, health, and medical) carriers: 32%
- Agencies, brokerages, and other insurance related activities: 25%
- Government: 19%
- Direct health and medical insurance carriers: 8%
- Administrative and support services: 3%
How to Become
It is generally expected for an insurance manager to hold a bachelor’s degree in a business-related field as a minimum. In rare cases, experience is accepted in lieu of a bachelor’s degree. It is particularly important that the manager demonstrates the ability to be a team player and to work well under pressure, while always meeting deadlines.
Education Requirements
Typically, insurance managers are expected to hold a bachelor’s degree, although some started as claims adjusters with a high school diploma or GED and worked their way up. Some also come from a background in private investigations or law enforcement, as they have a better understanding of interrogation and interviewing. Insurance managers are expected to receive a lot of on the job training so that they gain a greater understanding of how claims are investigated and settled.
Some states also have licensing and certification requirements in place for those working in the insurance industry. That said, some insurance companies have a license that covers all employees, which means an insurance manager does not have to become personally licensed. If a license is required, it is likely that the insurance manager has to take part in regular continuous education in order to maintain it. Most licenses and certifications focus on specific parts of insurance, such as medical, life, or auto insurance.
Traits & Qualities
The most effective insurance managers have the following traits to some degree or other:
- Strong analytical skills
- Excellent communication skills, both oral and written
- Highly detail oriented
- Strong interpersonal skills
- Excellent mathematical skills
- Critical thinking skills
- Ability to work well under pressure
Minimum Education
Bachelor’s Degree
The national average salary estimate for Insurance Manager was $67,560. This number is estimated from over 394,724 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $35.19 and monthly of $5,630.
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$14,000
$168,000
The following section lists Insurance Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, New York had the largest quoted salary of $95,684 while North Dakota had the smallest quoted salary of $33,004.
| Arizona – $64,832 | Rank: 18th |
The average salary ranks 18th among states in the country. There were also job openings from employers like Liberty Mutual, LP Insurance Services Inc, Gould Staffing, and SL Specialty Insurance.
$20,000 $134,000 Salary Distribution | |
| California – $69,175 | Rank: 15th |
The average salary ranks 15th among states in the country. There were also job openings from employers like Liberty Mutual, Insurance Search Specialists, Interstate Personnel, and MJ Recruiters, LLC.
$17,000 $157,000 Salary Distribution | |
| Colorado – $55,558 | Rank: 27th |
The average salary ranks 27th among states in the country. There were also job openings from employers like Bradsby Group, CyberCoders, and Ella Washington Agency.
$15,000 $120,000 Salary Distribution | |
| Connecticut – $89,185 | Rank: 3rd |
The average salary ranks 3rd among states in the country. There were also job openings from employers like Liberty Mutual, Remedy Intelligent Staffing, and A client of Roland & Associates.
$15,000 $225,000 Salary Distribution | |
| DC – $69,294 | Rank: 14th |
The average salary ranks 14th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting and Athena Consulting Group, LLC.
$19,000 $151,000 Salary Distribution | |
| Florida – $54,356 | Rank: 28th |
The average salary ranks 28th among states in the country. There were also job openings from employers like Plan for Life, Robert Half Finance & Accounting, Restoration Personnel Source, and APR Insurance Careers Inc.
$14,000 $131,000 Salary Distribution | |
| Georgia – $74,632 | Rank: 10th |
The average salary ranks 10th among states in the country. There were also job openings from employers like firstPRO Inc., RemX Specialty Staffing, Peevy Agency, and InsuranceHub.
$18,000 $170,000 Salary Distribution | |
| Hawaii – $70,977 | Rank: 13th |
The average salary ranks 13th among states in the country. There were also job openings from employers like Honolulu Authority for Rapid Transportation.
$20,000 $152,000 Salary Distribution | |
| Iowa – $68,096 | Rank: 17th |
The average salary ranks 17th among states in the country. There were also job openings from employers like Josh Hofbauer, Bankers Life, and JL Nixon Consulting.
$22,000 $139,000 Salary Distribution | |
| Illinois – $84,056 | Rank: 5th |
The average salary ranks 5th among states in the country. There were also job openings from employers like Liberty Mutual, CyberCoders, Taos Gloabl group Inc, and Hallmark Personnel, Inc.
$15,000 $209,000 Salary Distribution | |
| Indiana – $72,942 | Rank: 11th |
The average salary ranks 11th among states in the country. There were also job openings from employers like Elwood Staffing and Liberty Mutual.
$14,000 $184,000 Salary Distribution | |
| Kansas – $56,657 | Rank: 24th |
The average salary ranks 24th among states in the country. There were also job openings from employers like Farm Bureau Financial Services and Allied Professional Resources.
$19,000 $113,000 Salary Distribution | |
| Kentucky – $46,146 | Rank: 31st |
The average salary ranks 31st among states in the country. There were also job openings from employers like Allied Professional Resources and Foundation Insurance Group.
$14,000 $124,000 Salary Distribution | |
| Louisiana – $44,907 | Rank: 32nd |
The average salary ranks 32nd among states in the country. There were also job openings from employers like Ryson Roofing.
$16,000 $86,000 Salary Distribution | |
| Massachusetts – $95,580 | Rank: 2nd |
The average salary ranks 2nd among states in the country. There were also job openings from employers like CyberCoders, Innovative Life Group, InsuranceTechies Executive Search, and Liberty Mutual.
$21,000 $225,000 Salary Distribution | |
| Maryland – $72,844 | Rank: 12th |
The average salary ranks 12th among states in the country. There were also job openings from employers like American Income Life, Jones Networking, and Mary Snider- State Farm Insurance Agency.
$18,000 $163,000 Salary Distribution | |
| Michigan – $74,863 | Rank: 9th |
The average salary ranks 9th among states in the country. There were also job openings from employers like Liberty Mutual and SSC.
$19,000 $166,000 Salary Distribution | |
| Minnesota – $59,236 | Rank: 22nd |
The average salary ranks 22nd among states in the country. There were also job openings from employers like Katapult Network and Simply Benefits, LLC.
$14,000 $171,000 Salary Distribution | |
| Missouri – $68,168 | Rank: 16th |
The average salary ranks 16th among states in the country. There were also job openings from employers like Liberty Mutual.
$18,000 $149,000 Salary Distribution | |
| North Carolina – $61,533 | Rank: 20th |
The average salary ranks 20th among states in the country. There were also job openings from employers like Liberty Mutual and Criterion Executive Search.
$14,000 $153,000 Salary Distribution | |
| North Dakota – $33,004 | Rank: 36th |
The average salary ranks 36th among states in the country. There were also job openings from employers like Spherion.
$8.65 $26.05 Salary Distribution | |
| Nebraska – $49,020 | Rank: 30th |
The average salary ranks 30th among states in the country. There were also job openings from employers like Strong Financial Resources, Inc..
$14,000 $117,000 Salary Distribution | |
| New Hampshire – $83,068 | Rank: 7th |
The average salary ranks 7th among states in the country. There were also job openings from employers like Liberty Mutual.
$22,000 $183,000 Salary Distribution | |
| New Jersey – $85,711 | Rank: 4th |
The average salary ranks 4th among states in the country. There were also job openings from employers like PRI Technology, Liberty Mutual, Perennial Resources International, and Prudential.
$14,000 $228,000 Salary Distribution | |
| New Mexico – $44,095 | Rank: 33rd |
The average salary ranks 33rd among states in the country. There were also job openings from employers like Sabio Systems and Allstate Insurance.
$14,000 $99,000 Salary Distribution | |
| New York – $95,684 | Rank: 1st |
The average salary ranks 1st among states in the country. There were also job openings from employers like Technology Resource Group Inc, Robert Half Finance & Accounting, Robert Half The Creative Group, and The Creative Group.
$25,000 $212,000 Salary Distribution | |
| Ohio – $56,303 | Rank: 25th |
The average salary ranks 25th among states in the country. There were also job openings from employers like Liberty Mutual, Lighthouse Insurance Group, TechLink, Inc., and Milleson Insurance Agency, LLC.
$14,000 $135,000 Salary Distribution | |
| Oklahoma – $41,688 | Rank: 34th |
The average salary ranks 34th among states in the country. There were also job openings from employers like Allied Professional Resources.
$14,000 $88,000 Salary Distribution | |
| Oregon – $52,631 | Rank: 29th |
The average salary ranks 29th among states in the country. There were also job openings from employers like Liberty Mutual, Emerald Staffing – Insurance Division, Golsan Scruggs, and [email protected].
$14,000 $119,000 Salary Distribution | |
| Pennsylvania – $83,841 | Rank: 6th |
The average salary ranks 6th among states in the country. There were also job openings from employers like Liberty Mutual, General Placement Service, and PeopleShare.
$14,000 $223,000 Salary Distribution | |
| South Carolina – $41,430 | Rank: 35th |
The average salary ranks 35th among states in the country. There were also job openings from employers like Recruiting Solutions.
$14,000 $110,000 Salary Distribution | |
| Tennessee – $56,701 | Rank: 23rd |
The average salary ranks 23rd among states in the country. There were also job openings from employers like Allied Professional Resources and Criterion Executive Search.
$14,000 $130,000 Salary Distribution | |
| Texas – $55,804 | Rank: 26th |
The average salary ranks 26th among states in the country. There were also job openings from employers like Liberty Mutual, AAA, Babich & Associates, and National Insurance Property Casualty Broker – Houston, TX.
$14,000 $140,000 Salary Distribution | |
| Virginia – $59,315 | Rank: 21st |
The average salary ranks 21st among states in the country. There were also job openings from employers like Allied Professional Resources, Bankers Insurance, LLC., Adams & Garth, and Diedre Moire.
$14,000 $148,000 Salary Distribution | |
| Washington – $62,865 | Rank: 19th |
The average salary ranks 19th among states in the country. There were also job openings from employers like Integra Personnel Inc., Insurance Resourcing, Insurance Resourcing (Employer Fee Paid position, and Liberty Mutual.
$16,000 $141,000 Salary Distribution | |
| Wisconsin – $76,003 | Rank: 8th |
The average salary ranks 8th among states in the country. There were also job openings from employers like Liberty Mutual, Adams Insurance Service, Inc, Network. Wausau, and Insurance Restoration Company.
$17,000 $176,000 Salary Distribution | |
According to Indeed.com, the following states had employers looking to hire a Insurance Manager. The quoted salary figure represents the average salary from all job postings by this employer.
| Employer Name | Location | Average Salary |
|---|---|---|
| Accenture Insurance Manager | Illinois | $211,581 |
| Marcum Search LLC Insurance Manager | New York | $168,840 |
| Selby Jennings Insurance Manager | New York | $167,273 |
| Innovative Life Group Insurance Manager | Massachusetts | $150,000 |
| EY Insurance Manager | California | $149,406 |
| Godfrey Personnel, Inc. Insurance Manager | Illinois | $146,962 |
| Diedre Moire Insurance Manager | Virginia | $138,593 |
| Adam Hale & Associates Insurance Manager | Florida | $133,396 |
| DCSI- Global Consulting Company Insurance Manager | Georgia | $125,000 |
| Lifetime Recruiting Strategies Insurance Manager | Texas | $122,573 |
| InsuranceTechies Executive Search Insurance Manager | Massachusetts | $122,373 |
| Liberty Mutual Insurance Manager | Indiana | $121,755 |
| A client of Roland & Associates Insurance Manager | Connecticut | $118,367 |
| Addition Management Insurance Manager | New York | $117,261 |
| Pull Skill Techonologies Inc Insurance Manager | New Jersey | $117,103 |
Learn More
- Financial Managers : Occupational Outlook Handbook: : U.S …
- Risk and Insurance Management Society – Wikipedia
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|---|---|
| Communications Manager | $68,895 |
| Hospitality Manager | $68,555 |
| Network Analyst | $68,167 |
| Treasury Analyst | $68,044 |
| Business Operations Manager | $68,007 |
| Network Administrator | $66,871 |
| Financial Analyst | $66,611 |
| Supply Chain Analyst | $66,387 |
| Compensation Analyst | $66,326 |
| Research Analyst | $65,125 |
