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Insurance processor hiring summary. Here are some key points about hiring insurance processors in the United States:
Here's a step-by-step insurance processor hiring guide:
Insurance Processors deal with the processing of insurance applications, amendments of policies, changes, and cancellations. An Insurance Processor works with the client to choose the best insurance package and advise them on how to maximize their benefits. Clients need to understand the insurance process by answering inquiries. It is also essential that an Insurance Processor work hand in hand with the client, guiding them through the process, explaining all crucial parts of the insurance to establish trust in you and the company.
Before you start hiring an insurance processor, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
An insurance processor's background is also an important factor in determining whether they'll be a good fit for the position. For example, insurance processors from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
The following list breaks down different types of insurance processors and their corresponding salaries.
| Type of Insurance Processor | Description | Hourly rate |
|---|---|---|
| Insurance Processor | Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions. | $13-18 |
| Claims Clerk | Claims clerks review the forms and documents for insurance claims to check for missing information and attachments. The data they obtain is entered into their database for safekeeping and quick retrieval... Show more | $12-18 |
| Claims Coordinator | Claims coordinators are professionals who are responsible for coordinating activities that are related to handling and processing insurance claims for an organization. These coordinators must serve as liaison officer between the organization, insurance provider, and policyholders to communicate the status and eligibility for coverage for all relevant claims... Show more | $14-22 |
Including a salary range in the insurance processor job description is a good way to get more applicants. An insurance processor salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for an insurance processor in Utah may be lower than in Connecticut, and an entry-level engineer typically earns less than a senior-level insurance processor. Additionally, an insurance processor with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Kansas | $39,013 | $19 |
| 2 | Maryland | $36,669 | $18 |
| 3 | California | $35,938 | $17 |
| 4 | Pennsylvania | $35,921 | $17 |
| 5 | Rhode Island | $34,982 | $17 |
| 6 | Oklahoma | $34,044 | $16 |
| 7 | Georgia | $33,604 | $16 |
| 8 | Indiana | $32,949 | $16 |
| 9 | Missouri | $32,606 | $16 |
| 10 | Iowa | $32,446 | $16 |
| 11 | Ohio | $32,137 | $15 |
| 12 | Florida | $31,006 | $15 |
| 13 | Texas | $29,872 | $14 |
| 14 | South Carolina | $25,114 | $12 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Moore County Hospital District | $36,069 | $17.34 | |
| 2 | NFP Ventures | $34,033 | $16.36 | 1 |
| 3 | Eclaro | $34,013 | $16.35 | |
| 4 | National Financial Network | $33,885 | $16.29 | 19 |
| 5 | AAA FACILITY SERVICES | $33,749 | $16.23 | 29 |
| 6 | BancFirst | $33,278 | $16.00 | 13 |
| 7 | Brown & Brown | $32,882 | $15.81 | 8 |
| 8 | First Investors Financial Services Group, Inc. | $32,769 | $15.75 | 3 |
| 9 | Knight Barry Title | $32,535 | $15.64 | |
| 10 | Axelon Services | $32,115 | $15.44 | |
| 11 | Kelly Services | $32,091 | $15.43 | 5 |
| 12 | ManpowerGroup | $31,608 | $15.20 | 4 |
| 13 | 1st Source Bank | $31,594 | $15.19 | 2 |
| 14 | Randstad North America, Inc. | $31,417 | $15.10 | 9 |
| 15 | Aventure Staffing | $31,088 | $14.95 | |
| 16 | R.M. Schulte & Associates | $30,467 | $14.65 |
A good insurance processor job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of an insurance processor job description:
There are a few common ways to find insurance processors for your business:
Your first interview with insurance processor candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've selected the best insurance processor candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.
There are different types of costs for hiring insurance processors. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new insurance processor employee.
You can expect to pay around $33,041 per year for an insurance processor, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for insurance processors in the US typically range between $13 and $18 an hour.