What does a Claims Manager do?
Claims managers oversee the processing of insurance claims to ensure the procedure is handled efficiently, accurately, and in a manner that protects the interests of the insured parties while also providing satisfactory customer service. They often serve as a liaison between clients, adjusters, service providers, and other parties who may be involved in a claim or an incident related to it.
Claims managers often have a bachelor’s degree, although some employers will accept an equivalent level of related professional experience. Most claims managers have a strong background in insurance or business fields. These roles require attention to detail, problem solving abilities, and excellent verbal and written communication skills. Some states have mandatory licensing requirements, but employers in other states may also requires their claims managers to be licensed or obtain other credentials.
- Responsible for implementing best practices based on company goals.
- Determine and delegate claims settlement authority to claims representatives.
- Identify strategic opportunities based on financial analysis and projections, cost/benefit identification and analysis.
- Provide support, guidance, leadership and motivation to promote maximum performance.
- Responsible for preparing executive reporting and analysis that is consistent with defined standards and processes.
- Provide technical guidance to staff on claim investigation, reserving evaluation and resolution of claims.
- Partner with analytical team to produce necessary results and trending reports for leadership.
- Evaluate, handle and adjust assigned property or other claims from members and other claimants.
- Manage all aspects of the day-to-day operations of claims production.
- Interact extensively with various parties involved in the claim process.
- Remain current on tort reform and aware of impact on claims management strategies.
- Apply appropriate interventions and follow up on identified projects.
- Collaborate with other Claims and business leaders to define and drive enterprise initiatives.
- Assist or prepare files for lawsuit, trial or subrogation.
- Manage complex general liability and automobile claims, both litigated and non-litigated.
- Conduct annual plan and budget preparation under guidance provided by leadership.
- Create an environment that encourages and values the opinions of others and promotes sharing of information and ideas.
- Provide staff with standards of performance and inform them of job expectations.
- Oversee monitoring and tracking of individual and unit's performance against established productivity and quality metrics.
- Bachelor's or Graduate's Degree in business, business administration, computer science, engineering or management.
- Sound negotiation and problem solving capabilities.
- Proven record of attention to detail, time management, and leadership abilities.
- Fluent in insurance process, including negotiation, reserving, and liabilities.
- Experience with EDI, C, RAPS, R Language, and ICD-9 processes and software.
- Is a critical thinker and able to deploy writing protocols for correspondence including client EOB statements.
- Comfortable multitasking and making key decisions.
- Will strive for continuous improvement.
- Experience with budget planning and renewal processes.
Claims Manager Salaries
Average Base Pay
Claims Manager Career Path
Learn how to become a Claims Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Claims Manager Insights
“It was a great place to get started at and the company/managers helped me grow my career.”
“It's a challenging work and gives opportunity to give the best for the benefit of the company.”
“Great work life balance (This is a company that actually practices what it preaches.”
“Not much room for me to grow or expand my operations beyond what I've accomplished.”
“It is a growing company and it is a great time to get in if you want to advance your career.”
“Stable and good pay through career”
“It encourages its employees to grow and thrive by providing so many opportunities for new career paths.”
“Highly paid and good growth rate”
Claims Manager Interviews
Frequently asked questions about the role and responsibilities of a Claims Manager
- Claims Analyst
- Claims Adjuster
- Claims Examiner
- Claims Representative