If you’re looking for a support position in the financial products industry and like working with people, an insurance administrator job may be the right career for you. You’ll spend a lot of time in this busy job, processing insurance policies bought by customers and processing the insurance claims they make. You’ll need excellent interpersonal, customer service, and communication skills as you could work with insurance agents, claims adjusters, investigators, clients, and/or employees.
If you work for a broker or a small insurance agency, you will perform a wide variety of administrative tasks to support your agents and clients. If you work for a large insurance company, your work could be more specialized in the field of property and casualty insurance, life insurance, health, or financial insurance. You could also work in a call center or for a large corporation managing its employee group insurance plan.
Whatever branch of insurance you work in, if you enjoy supporting people as they navigate life’s inevitable events, you’re likely to enjoy a career as an insurance administrator.
Depending on skills, experience, and location, insurance administrator salaries are in the range of $32,000 to $43,000 per year. An insurance administrator can earn wages at the higher end of the scale after several years of experience, especially in the largest metropolitan areas.
You might find similar job titles offering higher salaries, such as claims administrator or benefits administrator. Insurance administrators who are licensed, such as those working in property and casualty insurance, can earn higher salaries.
As an insurance administrator, your interpersonal skills will help you provide excellent customer service when answering clients’ questions about policies, coverage adjustments, or proof-of-insurance documents. Your organizational skills will help you stay on top of a large amount of paperwork involving typing, filing, and mailing policy documents and renewals.
In addition to answering phones and acting as a receptionist, you’ll provide a wide variety of administrative tasks to support your colleagues and the smooth operation of the office. You will normally work in an office from 9 to 5, but sometimes you’ll need to stay late due to peak periods of business activity.
In a large company, you’ll report to a program manager, supervisor, or manager. In a small brokerage firm or agency you could report directly to an agent or business owner.
As an insurance administrator, you’ll support your colleagues — brokers, sales agents, and adjusters — by keeping policies and administrative details up to date to ensure they have accurate information. You could be involved in any of the following tasks:
With a huge variety of insurance products sold by a multitude of businesses, there are many opportunities to work as an insurance administrator. Insurance companies, banks, insurance brokers, and large businesses with benefit plans need administrative support.
As a result, you could find an insurance administrator job in almost any large American city where there is a concentration of financial service businesses. Opportunities exist throughout Canada, but you’ll find more insurance administrator jobs in larger metropolitan areas like Vancouver, Toronto, Mississauga, and Montréal.
Previous administrative experience will help you succeed as a candidate for an insurance administrator job. If you have a working knowledge of the financial services or insurance industry, you’ll have an edge.
In addition, you must have:
Many insurance administrator jobs are entry-level positions. The minimum educational requirement is a high school graduation diploma. A concentration in business, math, or accounting is recommended. Some insurance administrators have experience in general office and clerical duties before working in the insurance industry.
You can improve your chances of being hired as an insurance administrator by completing a business-insurance or risk management diploma at a community college.
Working as an insurance administrator is a good place to start if you’re considering a career in sales of financial products, or as an insurance agent, claims adjuster, claims examiner, investigator, or underwriter.
You can learn a great deal about the insurance industry in this administrative position while you’re considering your options. As you learn on the job, you can also research the educational, licensing, and certification requirements of the various careers in insurance.
Find opportunities to learn about new technology and automated systems used in the insurance industry. Join professional associations (Insurance Institute of Canada, Insurance Brokers Association of Canada) and attend networking events to learn more about establishing a career in insurance. In large companies, you might find lateral opportunities to work in product development, sales support, or even IT.
After several years of experience, your knowledge and skills could lead you to take professional courses with insurance education associations and become licensed or certified in your area of interest. With the right knowledge and certification, you could even become an independent insurance broker, or start your own insurance company.