You can break into the insurance field as a claims processor with as little as a high school diploma and on-the-job training. It's to your benefit to have fairly strong math and organizational skills background.
Commonly employed by insurance carriers, claims processors prepare insurance claims and determine claim amounts through the use of insurance rating systems. Their job duties vary by industry, and an understanding of the insurance laws in their industry is essential. Processors generally receive on-the-job training and only need a high school diploma to find entry-level work. They also need to know how to use productivity and accounting applications.
|Required Education||High school diploma with on-the-job training|
|Projected Job Growth||6% for all insurance claims and policy processing clerks from 2014-2024*|
|Median Salary (2015)||$37,530 annually for all insurance claims and policy processing clerks*|
Source: *U.S. Bureau of Labor Statistics
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Career Information for Claims Processors
Claims processors work for various types of insurance companies handling claims made by insurance customers. They tend to work regular schedules in offices. These jobs involve many of the same tasks and responsibilities as other business administration positions, such as data entry, word processing and basic customer service.
Specific tasks and responsibilities vary depending on the particular field in which a claims processor is employed. For example, a medical claims processor may be expected to develop a good working knowledge of certain laws regarding healthcare practices, while an automotive claims processor will focus on issues related to that industry.
Some of the job duties of a claims processor include preparing claim forms and other documents, reviewing insurance policies to determine specific aspects of coverage, calculating the amount of a claim and applying insurance rating systems. Claims processors typically use accounting, word processing and database software and spreadsheets. The more complex or involved aspects of working with insurance claims are generally handled by other positions, such as claims appraisers, examiners and investigators.
Education and Training
According to a recent search for claims processor positions, a high school diploma is often satisfactory for entry into this profession. Candidates should also expect to complete some on-the-job training. Skills in communication, organization and basic math are essential.
Salary and Job Outlook Information
The U.S. Bureau of Labor Statistics (BLS) reported a median salary of $37,530 for insurance claims and policy processing clerks in May 2015. Insurance carriers employed the largest number of claims processors, with the second-largest number of processors working for agencies, brokerages and other insurance-related businesses. The BLS predicted that employment for insurance claims and policy processing clerks would increase by 6% from 2014-2024.
If you have decent communication, computer and math skills, along with a high school diploma or GED, you may be able to secure a position as an insurance claims processor. Once hired, you'll likely go through a period of on-the-job training. Employment opportunities for claims processors are expected to increase as fast as the national average for all occupations.