Summary Report for:
43-9041.02 - Insurance Policy Processing Clerks
Process applications for, changes to, reinstatement of, and cancellation of insurance policies. Duties include reviewing insurance applications to ensure that all questions have been answered, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies to determine automatic reinstatement according to company policies, canceling insurance policies as requested by agents, and verifying the accuracy of insurance company records.
Sample of reported job titles: Account Administrator, Account Manager, Administrative Underwriter, Agency Service Representative, Associate Financial Representative, Customer Service Technician, Field Secretary, Insurance Analyst, Premium Representative, Processing Clerk
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Detailed Work Activities | Work Context | Job Zone | Education | Credentials | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment | Job Openings | Additional Information
- Interview clients and take their calls to provide customer service and obtain information on claims.
- Process, prepare, and submit business or government forms, such as submitting applications for coverage to insurance carriers.
- Process and record new insurance policies and claims.
- Correspond with insured or agent to obtain information or inform them of account status or changes.
- Organize and work with detailed office or warehouse records, maintaining files for each policyholder, including policies that are to be reinstated or cancelled.
- Review and verify data, such as age, name, address, and principal sum and value of property on insurance applications and policies.
- Collect initial premiums and issue receipts.
- Modify, update, and process existing policies and claims to reflect any change in beneficiary, amount of coverage, or type of insurance.
- Transcribe data to worksheets and enter data into computer for use in preparing documents and adjusting accounts.
- Notify insurance agent and accounting department of policy cancellation.
- Calculate premiums, refunds, commissions, adjustments, and new reserve requirements, using insurance rate standards.
- Examine letters from policyholders or agents, original insurance applications, and other company documents to determine if changes are needed and effects of changes.
- Compose business correspondence for supervisors, managers, and professionals.
- Compare information from application to criteria for policy reinstatement and approve reinstatement when criteria are met.
- Obtain computer printout of policy cancellations or retrieve cancellation cards from file.
- Check computations of interest accrued, premiums due, and settlement surrender on loan values.
Tools & Technology
Tools used in this occupation:
Technology used in this occupation:
- Accounting software — Account management software
- Data base user interface and query software — Data entry software; Database software; Microsoft Access; Policy issuance system software
- Document management software — InSystems Calligo Enterprise
- Electronic mail software — IBM Lotus Notes; Microsoft Outlook; Novell GroupWise
- Financial analysis software — Insurance rating software
- Internet browser software — Microsoft Internet Explorer; Web browser software
- Office suite software — Microsoft Office software
- Presentation software — Microsoft PowerPoint
- Spreadsheet software — Microsoft Excel
- Word processing software — Microsoft Word
- Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
- Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Sales and Marketing — Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking — Talking to others to convey information effectively.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Time Management — Managing one's own time and the time of others.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Speech Clarity — The ability to speak clearly so others can understand you.
- Speech Recognition — The ability to identify and understand the speech of another person.
- Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
- Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Performing for or Working Directly with the Public — Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
- Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
- Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
- Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
- Monitor Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
- Monitoring and Controlling Resources — Monitoring and controlling resources and overseeing the spending of money.
- Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
Detailed Work Activities
- Verify accuracy of financial or transactional data.
- Collect deposits, payments or fees.
- Enter information into databases or software programs.
- Calculate financial data.
- Answer telephones to direct calls or provide information.
- Prepare documentation for contracts, transactions, or regulatory compliance.
- Calculate costs of goods or services.
- Maintain financial or account records.
- Provide notifications to customers or patrons.
- Interview employees, customers, or others to collect information.
- Maintain operational records.
- Review customer insurance information.
- Prepare business correspondence.
- Provide information to coworkers.
- Obtain personal or financial information about customers or applicants.
- Indoors, Environmentally Controlled — 100% responded “Every day.”
- Spend Time Sitting — 91% responded “Continually or almost continually.”
- Contact With Others — 85% responded “Constant contact with others.”
- Electronic Mail — 96% responded “Every day.”
- Telephone — 96% responded “Every day.”
- Letters and Memos — 73% responded “Every day.”
- Structured versus Unstructured Work — 66% responded “A lot of freedom.”
- Work With Work Group or Team — 73% responded “Extremely important.”
- Deal With External Customers — 57% responded “Extremely important.”
- Importance of Being Exact or Accurate — 49% responded “Extremely important.”
- Face-to-Face Discussions — 53% responded “Every day.”
- Importance of Repeating Same Tasks — 59% responded “Extremely important.”
- Freedom to Make Decisions — 49% responded “Some freedom.”
- Time Pressure — 53% responded “Every day.”
- Frequency of Decision Making — 61% responded “Every day.”
- Spend Time Making Repetitive Motions — 65% responded “Continually or almost continually.”
- Impact of Decisions on Co-workers or Company Results — 43% responded “Very important results.”
- Coordinate or Lead Others — 43% responded “Very important.”
- Deal With Unpleasant or Angry People — 40% responded “Once a month or more but not every week.”
- Degree of Automation — 54% responded “Highly automated.”
|Title||Job Zone Two: Some Preparation Needed|
|Education||These occupations usually require a high school diploma.|
|Related Experience||Some previous work-related skill, knowledge, or experience is usually needed. For example, a teller would benefit from experience working directly with the public.|
|Job Training||Employees in these occupations need anywhere from a few months to one year of working with experienced employees. A recognized apprenticeship program may be associated with these occupations.|
|Job Zone Examples||These occupations often involve using your knowledge and skills to help others. Examples include sheet metal workers, forest fire fighters, customer service representatives, physical therapist aides, salespersons (retail), and tellers.|
|SVP Range||(4.0 to < 6.0)|
Percentage of Respondents
|Education Level Required|
|51||High school diploma or equivalent|
|35||Some college, no degree|
Interest code: CE
- Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Integrity — Job requires being honest and ethical.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Persistence — Job requires persistence in the face of obstacles.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
- Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
- Social Orientation — Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
- Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
- Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Wages & Employment Trends
Median wages data collected from Insurance Claims and Policy Processing Clerks.
Employment data collected from Insurance Claims and Policy Processing Clerks.
Industry data collected from Insurance Claims and Policy Processing Clerks.
|Median wages (2014)||$17.66 hourly, $36,740 annual|
|Employment (2014)||285,000 employees|
|Projected growth (2014-2024)||Average (5% to 8%)|
|Projected job openings (2014-2024)||89,200|
|Top industries (2014)|
Source: Bureau of Labor Statistics 2014 wage data and 2014-2024 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.
Job Openings on the Web
Sources of Additional Information
Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.
- Financial clerks . Bureau of Labor Statistics, U.S. Department of Labor. Occupational Outlook Handbook, 2016-17 Edition.