Claims managers are responsible for handling the claims department to ensure that an effective review is conducted by the company in accordance with the law and regulations. They need to be highly thorough and capable of identifying small details that could suggest deliberate deception or even inaccurate facts. In order to successfully handle claims, companies rely on claims managers to provide expert feedback on the day-to-day procedures.
Claims managers' everyday responsibilities include, but are not limited to, developing and enforcing different claims processes and procedures, providing services to all company needs and ensuring optimum management of all claims, investigating all problems, and providing training to all business units. They are also in charge of reviewing all associated claims business divisions. Oftentimes they are tasked to provide training to new recruits to handle all pending claims and establish an effective duty program and work with the HR team to promote the same.
Many employers prefer candidates that have a bachelor's degree in a related field and at least one to three years of experience working in insurance claims or in a leadership position. It is important that candidates have strong analytical and problem-solving skills.
There is more than meets the eye when it comes to being a claims manager. For example, did you know that they make an average of $37.7 an hour? That's $78,417 a year!
Between 2018 and 2028, the career is expected to grow -4% and produce -13,000 job opportunities across the U.S.
There are certain skills that many claims managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and detail oriented.
If you're interested in becoming a claims manager, one of the first things to consider is how much education you need. We've determined that 66.5% of claims managers have a bachelor's degree. In terms of higher education levels, we found that 7.7% of claims managers have master's degrees. Even though most claims managers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a claims manager. When we researched the most common majors for a claims manager, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on claims manager resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a claims manager. In fact, many claims manager jobs require experience in a role such as claims representative. Meanwhile, many claims managers also have previous career experience in roles such as claims supervisor or claims adjuster.