What Does an Insurance Administrator Do?
As an insurance administrator, you could either work for an insurance company, managing the insurance products your company sells, or for a business or organization, managing employee insurance plans. Keep reading to learn more about these positions.
Career Overview
An insurance administrator manages insurance policies, dealing with the paperwork and the details of insurance contracts on a daily basis. Knowledge of the insurance industry as a whole, as well as the specifics of any applicable sub-fields (home insurance, car insurance, life insurance, etc.), must be acquired by any individual interested in becoming an insurance administrator. Many employers prefer to hire individuals with an education or job experience relating to the field of insurance management. Two of the most common routes taken by insurance administrators include working for an insurance company and working for a business or organization.
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Important Facts About This Occupation
| Median Salary (2019) | $45,360 (for claims administrators) |
| Similar Occupations | Administrative Assistant, Claims Adjuster, Medical Billing Specialist |
| Work Environment | Regular weekly hours, usually in an office setting |
| Licensure | Some insurance administrators may have to be licensed, such as those working in property and casualty insurance |
Source: PayScale.com
Working for an Insurance Company
Using data entry skills, insurance administrators for insurance companies are also responsible for entering client and company information into a computer application. Should you choose this route, you would need to be adept at finances, managing accounts, often in spreadsheets, and tracking financial data for customers. There may also be instances where you'd speak to clients and customers about different insurance products, such as a car, health, and life insurance. In this field, excellent customer service skills are a plus and those who are comfortable with sales may find themselves at an advantage in the job market.
Working in a Business or Organization
As an insurance administrator working for a business or organization, you would primarily manage insurance plans for employees. Most large corporations and some small businesses offer employees a range of insurance policy options; as an insurance administrator, you'd manage employee life, health, and dental plans, providing guidance to employees regarding what plans would be beneficial for them. You'd also be responsible for conducting research and assisting employees with your company's open enrollment for insurance.
If your company provides a retirement plan, you'd be responsible for managing all records regarding each employee's plan, as well as collecting spouse information and detailing benefit information. You could also work with the payroll department of your company to make sure the appropriate amount for insurance is being deducted from an employee's wages.
