If you’re an insurance professional and you’re looking to move up in your career—what about becoming a manager?
As an insurance manager, you’ll have some new responsibilities. Instead of hands-on work (such as claims adjusting), your role will be one that’s more overseeing the work of others who report to you. You’ll be in charge of making sure your direct reports are following guidelines and meeting deadlines. You may also be involved in recruiting, training, and retaining insurance workers. You’ll be the first line when your employees have questions or need support.
Your education
Most insurance professionals need just a high school diploma. As a manager, you’ll need some work experience in the field and department you’re managing. You might even be able to be promoted from within and move up within your own company if there’s an opportunity.
You’ll also need on-the-job training under an experienced team member until you’re ready to set out on your own. Depending on the state in which you work and your role (for example, a manager of claims adjusters, appraisers, or examiners), you may require licensure, certification, or registration to perform your job.
Your skills
Skills that are important to insurance professionals and managers are:
- Analytical skills—the ability to evaluate information to reach a decision.
- Communication skills—asking the right questions to get the required information.
- Attention to detail—careful review of documents is necessary to avoid mistakes that could lead to financial consequences.
- Math skills—if you’re managing people who calculate damages, you’ll need to know your math.
Your pay
As of May 2019, the median annual wage for insurance claims adjusters, examiners, and investigators was $66,790 (according to the Bureau of Labor Statistics). The lowest-paid workers earned less than $41,100, and the highest earners brought home more than $100,400. As you can see, it’s quite a range, but there’s an opportunity to make a respectable income. Government workers and those employed by a direct insurance carrier were among the highest earners.
Your next steps
Does the role of an insurance manager sound like an exciting career move? If you find yourself shaking your head, “yes,” then where can you start?
Check out InsuranceRecruiters.com! We’re a site dedicated to job opportunities for insurance professionals. To learn more, contact us today!
