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The differences between claim specialists and compliance specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a compliance specialist has an average salary of $57,330, which is higher than the $43,164 average annual salary of a claim specialist.
The top three skills for a claim specialist include customer service, litigation and patients. The most important skills for a compliance specialist are patients, regulatory compliance, and strong analytical.
| Claim Specialist | Compliance Specialist | |
| Yearly salary | $43,164 | $57,330 |
| Hourly rate | $20.75 | $27.56 |
| Growth rate | -6% | 6% |
| Number of jobs | 29,505 | 34,610 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 61% |
| Average age | 44 | 46 |
| Years of experience | 6 | - |
A claims specialist is responsible for processing insurance claims, reviewing insurance coverage, and analyzing claims cases. Claims specialists' duties include negotiating claims settlements, validating claims to prevent fraud, creating court testimonies as needed, developing claim review plans, and checking necessary documents and related resolve claims. A claims specialist must have strong analytical and critical-thinking skills to authorize claim payment and investigate complex and unusual claims. Claims specialists should also have extensive knowledge of the insurance processes to handle various cases, following legal policies and regulatory procedures.
The role of compliance specialists is to ensure that companies comply with relevant industry standards and regulations. Their duties may vary depending on the industry they work in, such as healthcare or banking. Tasks include reviewing their company's business practices to ensure they follow specific regulations, resolving compliance issues that may arise, and being up-to-date with regulatory changes. As a compliance specialist, you should have industry expertise, in-depth knowledge of regulations, and auditing skills.
Claim specialists and compliance specialists have different pay scales, as shown below.
| Claim Specialist | Compliance Specialist | |
| Average salary | $43,164 | $57,330 |
| Salary range | Between $27,000 And $67,000 | Between $38,000 And $85,000 |
| Highest paying City | Newark, NJ | San Francisco, CA |
| Highest paying state | New Jersey | Delaware |
| Best paying company | W. R. Berkley | Meta |
| Best paying industry | Insurance | Pharmaceutical |
There are a few differences between a claim specialist and a compliance specialist in terms of educational background:
| Claim Specialist | Compliance Specialist | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | Stanford University | Harvard University |
Here are the differences between claim specialists' and compliance specialists' demographics:
| Claim Specialist | Compliance Specialist | |
| Average age | 44 | 46 |
| Gender ratio | Male, 31.0% Female, 69.0% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 11.4% Unknown, 4.4% Hispanic or Latino, 16.5% Asian, 5.1% White, 62.1% American Indian and Alaska Native, 0.5% | Black or African American, 10.9% Unknown, 4.5% Hispanic or Latino, 15.7% Asian, 8.2% White, 59.8% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 10% | 12% |