Working as an Insurance Processing Clerk

What Does an Insurance Processing Clerk Do

Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.

Duties

Financial clerks typically do the following:

  • Keep and update financial records
  • Compute bills and charges
  • Offer customer assistance
  • Carry out financial transactions

Financial clerks give administrative and clerical support in financial settings. Their specific job duties vary by specialty and by setting.

Billing and posting clerks calculate charges, develop bills, and prepare them to be mailed to customers. They review documents such as purchase orders, sales tickets, charge slips, and hospital records to compute fees or charges due. They also contact customers to get or give account information.

Gaming cage workers work in casinos and other gaming establishments. The “cage” in which they work is the central depository for money and gaming chips. Gaming cage workers sell gambling chips, tokens, or tickets to patrons. They count funds and reconcile daily summaries of transactions in order to balance books.

Payroll and timekeeping clerks compile and post employee time and payroll data. They verify and record attendance, hours worked, and pay adjustments. They ensure that employees are paid on time and that their paychecks are accurate.

Procurement clerks compile requests for materials, prepare purchase orders, keep track of purchases and supplies, and handle questions about orders. They respond to questions from customers and suppliers about the status of orders. They handle requests to change or cancel orders. They make sure that purchases arrive on schedule and that the items meet the purchaser’s specifications.

Brokerage clerks help with tasks associated with securities such as stocks, bonds, commodities, and other kinds of investments. Their duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, distributing dividends, and keeping records of daily transactions and holdings.

Credit authorizers, checkers, and clerks review the credit history, and get the information needed to determine the creditworthiness, of individuals or businesses applying for credit. Credit authorizers evaluate customers’ computerized credit records and payment histories to decide, based on predetermined standards, whether to approve new credit. Credit checkers call or write credit departments of business and service establishments to get information about applicants’ credit standing.

Loan interviewers, also called loan processors or loan clerks, interview applicants and others to get and verify personal and financial information needed to complete loan applications. They also prepare the documents that go to the appraiser and are issued at the closing of a loan.

New accounts clerks interview people who want to open accounts in financial institutions. They explain the account services available to prospective customers and help them fill out applications. They also investigate and correct errors in accounts.

Insurance claims and policy processing clerks process applications for insurance policies. They also handle customers’ requests to change or cancel their existing policies. Their duties include interviewing clients and reviewing insurance applications to ensure that all questions have been answered. They also notify insurance agents and accounting departments of policy cancellations or changes.

How To Become an Insurance Processing Clerk

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.

Education

Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, require a 2- or 4-year college degree.

Training

Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.

Advancement

Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

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Average Salary$30,469
Job Growth Rate5%

Insurance Processing Clerk Jobs

Average Salary for an Insurance Processing Clerk

Insurance Processing Clerks in America make an average salary of $30,469 per year or $15 per hour. The top 10 percent makes over $37,000 per year, while the bottom 10 percent under $24,000 per year.
Average Salary
$30,469

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Insurance Processing Clerk
Insurance Processing Clerk
Allied Personnel Services
Allied Personnel Services
06/11/2020
06/11/2020
$33,39206/11/2020
$33,392
Insurance Processing Clerk
Insurance Processing Clerk
Gabriela Kaplanova LLC
Gabriela Kaplanova LLC
08/28/2017
08/28/2017
$27,20608/28/2017
$27,206
Insurance Processing Clerk
Insurance Processing Clerk
Gale Fisher State Farm Agency
Gale Fisher State Farm Agency
06/07/2017
06/07/2017
$52,00006/07/2017
$52,000
Insurance Processing Clerk
Insurance Processing Clerk
Seong Lee Insurance Agency, Inc.
Seong Lee Insurance Agency, Inc.
10/11/2015
10/11/2015
$29,12010/11/2015
$29,120
Insurance Policy Processing Clerks
Insurance Policy Processing Clerks
KK Insurance Inc.
KK Insurance Inc.
04/02/2012
04/02/2012
$31,20004/02/2012
$31,200

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Insurance Processing Clerk Demographics

Gender

Female

82.4 %

Male

13.6 %

Unknown

4.0 %
Ethnicity

White

57.5 %

Hispanic or Latino

16.8 %

Black or African American

13.1 %
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Foreign Languages Spoken

Spanish

85.7 %

Vietnamese

14.3 %
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Insurance Processing Clerk Education

Schools

University of Mary Hardin-Baylor

9.1 %

More Tech Institute

9.1 %

Western Washington University

4.5 %

Maricopa Community Colleges - Rio Salado Community College

4.5 %
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Majors

Business

22.5 %

Medical Technician

7.5 %

Health Care Administration

7.5 %

Secretarial And Administrative Science

7.5 %
Show More
Degrees

High School Diploma

26.8 %

Bachelors

23.2 %

Associate

21.4 %

Certificate

17.9 %
Show More

Entry Level Jobs For Becoming An Insurance Processing Clerk

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Top Skills For an Insurance Processing Clerk

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 18.1% of insurance processing clerks listed new insurance policies on their resume, but soft skills such as math skills and communication skills are important as well.

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Top Insurance Processing Clerk Employers

1. Assurant
4.7
Avg. Salary: 
$55,626
Insurance Processing Clerks Hired: 
7+
2. Blue Cross Blue Shield of Texas
4.9
Avg. Salary: 
$51,540
Insurance Processing Clerks Hired: 
4+
3. Allstate
4.7
Avg. Salary: 
$50,024
Insurance Processing Clerks Hired: 
3+
4. Aerotek
3.9
Avg. Salary: 
$32,107
Insurance Processing Clerks Hired: 
2+
5. Randstad USA
4.1
Avg. Salary: 
$30,637
Insurance Processing Clerks Hired: 
2+
6. State Farm
4.7
Avg. Salary: 
$48,235
Insurance Processing Clerks Hired: 
2+

Recently Added Insurance Processing Clerk Jobs

Updated October 2, 2020