Insurance Claims Specialist Job Profile and Description
Many people and business houses buy insurance policies to protect them from unforeseen accidents and related financial losses. These insurance policies protect them from these losses by providing monetary compensation called claims. As an insurance claims specialist you’d be settling claims made by the insurance client and be extremely knowledgeable about the whole gamut of claim settlement rules and guidelines. You might find employment with an insurance company, a car insurance company, a health insurance company or even with a medical or health facility that reimburses clients their bills.
Insurance Claims Specialist Job Duties and Responsibilities
- As the name suggests, you’d be responsible for handling claims and settling them properly.
- You’ve got to be adept at insurance laws and rules, so you don’t end up either annoying the customer or the company you work for by proposing improper settlements.
- Most insurance companies, hospitals etc. have separate inspectors to find out the truth behind an accident, but some might require the insurance claims specialist to do the job for them.
Insurance Claims Specialist Job Skills and Specifications
- A big part of the job is record maintenance. You’ve got to know the coverage details of the clients.
- You might be required to prepare forms according to the coverage details of particular clients and then gather data relevant to the claims made.
Insurance Claims Specialist Job Education and Qualifications
- Most companies would settle for a high school diploma, but some might ask for a degree also.
- If you have business math as a subject, that would further enhance your resume and you’re also required to be computer savvy.
Insurance Claims Specialist Analyst Salary
- Some companies pay hourly wages to insurance claims specialists and that could be around $16 – $20 per hour.
- If they put you on a monthly salary, it could be around $3000 per month.