Insurance clerks perform general clerical and administrative duties in an insurance company, other service institution, for a self-employed insurance agent or broker or for a government institution. They offer assistance and provide information about insurances to customers and they manage the paperwork of insurance agreements.
The duties of an insurance clerk include, but are not limited to:
- Providing information about insurance policies to customers over the phone or in person
- Updating insurance forms with personal information such as name, address, birth date, social security number, and driver’s license number
- Processing insurance claims by collecting documentation from clients, evaluating claim information for completeness, negotiating with insurance companies on behalf of clients, and communicating with other departments within an organization
- Processing payments received from customers for insurance policies using an automated system
- Calculating premiums due based on risk factors such as age, gender, location, occupation, etc.Processing insurance claims payments using an automated system
- Processing applications for new insurance policies and updating customer records with policy details
- Processing insurance claims by contacting claimants, appraising damage to property, and making payment arrangements with repair shops or contractors
- Updating records of insurance policies by entering information about premiums, claim status, and payments
The following job titles also refer to insurance clerk:
insurance administration clerk
insurance management assistant
insurance accounts clerk
insurance office clerk
personal lines insurance clerk
insurance reconciliation clerk
Insurance clerks work in a variety of settings, including insurance companies, banks, and other financial institutions. They typically work regular business hours, although they may be required to work overtime during busy periods. Insurance clerks who work in claims departments may have to work irregular hours to accommodate the schedules of claimants.
Insurance clerks who work in customer service may have to work evenings and weekends to accommodate the schedules of policyholders. Insurance clerks who work in sales may have to work irregular hours to meet with clients.
Entry-level insurance clerks are typically required to have a high school diploma or equivalent. Some positions may require an associate’s degree or a related field of study. Relevant coursework includes business, finance, accounting, economics and statistics.
Most insurance clerks will receive on-the-job training when they start working for a company. This training will help the insurance clerk learn the specific software and computer programs they will use to complete their daily tasks. They will also learn the company’s specific procedures and policies.
ISCO skill level
ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:
- the nature of the work performed in an occupation in relation to the characteristic tasks and duties
- the level of formal education required for competent performance of the tasks and duties involved and
- the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.
Insurance clerk is a Skill level 2 occupation.
Insurance clerk career path
These occupations, although different, require a lot of knowledge and skills similar to insurance clerk.
Long term prospects
These occupations require some skills and knowledge of insurance clerk. They also require other skills and knowledge, but at a higher ISCO skill level, meaning these occupations are accessible from a position of insurance clerk with a significant experience and/or extensive training.
Essential knowledge and skills
This knowledge should be acquired through learning to fulfill the role of insurance clerk.
- Office software: The characteristics and functioning of software programs for office tasks such as word processing, spreadsheets, presentation, email and database.
- Electronic communication: Data communication performed through digital means such as computers, telephone or e-mail.
- Types of insurance: The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.
Essential skills and competences
These skills are necessary for the role of insurance clerk.
- Communicate with customers: Respond to and communicate with customers in the most efficient and appropriate manner to enable them to access the desired products or services, or any other help they may require.
- Handle paperwork: Handle work-related paperwork ensuring that all relevant requirements are met.
- Maintain records of financial transactions: Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.
- Implement instructions: Being able to implement written or oral instructions.
- Use office systems: Make appropriate and timely use of office systems used in business facilities depending on the aim, whether for the collection of messages, client information storage, or agenda scheduling. It includes administration of systems such as customer relationship management, vendor management, storage, and voicemail systems.
- Perform office routine activities: Program, prepare, and perform activities required to be performed everyday in offices such as mailing, receiving supplies, updating managers and employees, and keeping operations running smoothly.
- Write work-related reports: Compose work-related reports that support effective relationship management and a high standard of documentation and record keeping. Write and present results and conclusions in a clear and intelligible way so they are comprehensible to a non-expert audience.
- Perform clerical duties: Perform administrative tasks such as filing, typing up reports and maintaining mail correspondence.
- Offer financial services: Provide a broad range of financial services to clients such as assistance with financial products, financial planning, insurances, money and investment management.
- Provide financial product information: Give the customer or client information about financial products, the financial market, insurances, loans or other types of financial data.
- Handle financial transactions: Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.
Optional knowledge and skills
This knowledge is sometimes, but not always, required for the role of insurance clerk. However, mastering this knowledge allows you to have more opportunities for career development.
- Insurance law: The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.
- Banking activities: The broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, foreign exchange trading, commodity trading, trading in equities, futures and options trading.
- Principles of insurance: Understand the principles of insurance, including third party liability, stock and facilities.
- Tax legislation: Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.
- Company policies: The set of rules that govern the activity of a company.
- Insurance market: The trends and major driving factors in the insurance market, insurance methodologies and practices, and the identification of the major stakeholders in the insurance sector.
Optional skills and competences
These skills and competences are sometimes, but not always, required for the role of insurance clerk. However, mastering these skills and competences allows you to have more opportunities for career development.
- Trace financial transactions: Observe, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanagement.
- Analyse insurance needs: Gather information about the insurance needs of a client, and give information and advice about all possible insurance options.
- Review insurance process: Analyse all documentation related to a specific insurance case in order to ensure that the application for insurance or the claims process was handled according to guidelines and regulations, that the case will not pose significant risk to the insurer or whether claims assessment was correct, and to assess the further course of action.
- Communicate with banking professionals: Communicate with professionals in the field of banking in order to obtain information on a specific financial case or project for personal or business purposes, or on behalf of a client.
- Identify customer’s needs: Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.
- Obtain financial information: Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.
- Advise on financial matters: Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
- File claims with insurance companies: File a factual request to an insurance company in case a problem occurs which is covered under an insurance policy.
- Handle incoming insurance claims: Manage, process and evaluate submitted requests for insurance in case a problem, which is covered under an insurance policy, occurs. The claim may or may not be approved, based on assessment of the circumstances.
- Present reports: Display results, statistics and conclusions to an audience in a transparent and straightforward way.
- Classify insurance claims: Process incoming claims in order to assess their nature and categorise them according to the different types of insurance and claims handling procedures, in order to ensure proper administrative handling, and to guarantee that the claim may proceed to the correct loss adjuster or other claims professionals.
- Maintain financial records: Keep track of and finalise all formal documents representing the financial transactions of a business or project.
ISCO group and title
4312 – Statistical, finance and insurance clerks
- Insurance clerk – ESCO
- Insurance Clerk Job Description: Salary, Duties, & More – Climb the Ladder
- Featured image: Photo by RODNAE Productions