The COVID-19 pandemic has forced the professionals of most industries to work from home due to lockdown, and the insurance industry is no exception.
In the case of the insurance industry, health insurance companies, in particular, are facing a tough time due to the fact that the coronavirus is driving an increase in health insurance claims.
With a lot of people falling sick due to COVID-19, insurers are faced with a sudden increase in claim requests and inquiries.
This increased workload during lockdown can only be managed by insurers through remote working solutions with the help of its staff or skilled people who wish to provide remote services to insurers.
Some Remote Working Stats
- Prior to COVID-19, remote working was already a fast-growing trend.
- Remote workers are often on a flexible schedule and sometimes telecommuting, freelancing, and working in either a part-time or full-time position.
- During the last five years, remote working has seen a 44% growth, with the period 2005-2017 witnessing a staggering 159% remote work increase.
- Today, there are 4.7 million Americans working remotely (approximately 3.4% of the U.S. population), surpassing the number of 3.9 million in 2015.
As you can see, opportunities for insurance jobs working from home are growing and today’s post will share 11 remote insurance jobs you can seek today.
Table of Contents
Licensed Insurance Agents
If you are a licensed insurance agent who lost their job due to COVID-19, then the good news is that there are insurance companies that can hire you in a remote working position. Insurance brokers and agencies are hiring people who can work remotely and make sales for them over the phone and the internet.
Key Job Responsibilities Include:
- Meeting set revenue target numbers.
- Cross-selling to previous clients.
- Re-assessing the policy requirements of previous clients after life-changing occurrences.
- Researching, sourcing, and building long-term relationships with potential clients.
- Persuading prospective clients to have a phone conversation to discuss various insurance products.
- Advising clients on the policies that best meet their requirements.
- Offering customized solutions tailored to each client.
- Filling-out and submitting applications, issuing quotes, maintaining records of clients, and preparing reports.
- Delivering approved policies to new clients and explaining policy risks and benefits.
- Keeping abreast of market and industry best practices/trends.
- Communicating with clients and potential clients.
- Providing best policies as per the needs of clients.
- Identifying strategies for risk management.
- Handling policy renewals.
- Tracking claims.
Insurance Compliance Officer
A Compliance Manager or Compliance Officer helps ensure legal and ethical compliance by insurers while meeting the business objectives and goals.
Key Job Responsibilities Include:
- Keeping track of the latest regulatory updates.
- Ensuring appropriate compliance with state and federal laws.
- Reviewing policy forms’ approvals.
Insurance Auditors
This position is more of an independent contractor, one that may need you to travel locally for conducting physical audits. Other types of audits include premium and chart audits.
Key Job Responsibilities Include:
- Examining financial records, tax documents, and policy/liability procedures of insurance policyholders.
- Ensuring implementation of appropriate insurance rates and premiums.
- Ensuring the following of proper insurance and liability laws by policyholders.
- Maintaining quality control between policyholders and insurance companies.
Claims Specialists
Due to the pandemic, a major increase in insurance claims are being filed around the U.S. and other countries, making insurers seek more and more claims management specialists to work for them.
Key Job Responsibilities Include:
- Ensuring the authenticity of claims by reviewing the insurance policy of claimants.
- Preparing reports for genuine claim requests.
- Sending approval requests for quick reimbursement against qualified claims.
Actuaries and Analysts
Actuaries and analysts have proved to be of great help for insurers, especially when it comes to evaluating policies against the risk for insurance companies and policyholders.
Key Job Responsibilities Include:
- Reviewing insurance applications to ensure accurate filling of necessary information like name, age, name, and property value.
- Calculating risks and determining appropriate policies for clients.
- Providing recommendations on claim payments to reduce the losses.
Customer Service
During the COVID-19 outbreak, people have many questions concerning their policies, resulting in a huge number of inquiries. This is where customer service executives come in. From Metlife to State Farm to Progressive, every insurance company is looking to hire more and more remote customer service representatives.
Key Job Responsibilities Include:
- Addressing client concerns ASAP to enhance service, avoid policy renewal cancelation, and negative brand image.
- Establishing long-term relationships with clients with the help of constant support using effective communication throughout the customer lifecycle.
Underwriters
Underwriters assess the risk of taking on a new policyholder. They are the soul of insurance companies as it is with their cost-saving and risk-assessing ability only that insurers are able to minimize policy risks and maximize insurance premiums and profits.
Key Job Responsibilities Include:
- Reviewing precise information to determine the actual risk.
- Determining risks being covered by the insurance company and under what circumstances.
- Restricting/altering coverage with the help of endorsement.
- Looking for proactive solutions for eliminating or reducing future insurance claims’ risks.
- Negotiating with brokers/agents to clear any insurance issues.
Third-Party Experts
With remote working on the rise, managing the work overburden has been made possible only with the help of third-party experts. Unlike other remote work jobs, insurance outsourcing experts provide insurers with multiple services in one place.
Key Job Responsibilities Include:
- Managing routine data entry tasks
- Taking care of invoicing
- Generating loss run reports
- Handling customer care
- Issuing policies
- Managing insurance back-office accounting tasks and more.
Medical Coders
Insurers need medical coders for a variety of reasons. Although there aren’t many formal educational requirements for becoming a medical coder (except obtaining a high school diploma/equivalent), one can boost his/her career by completing an online medical coding program.
Key Job Responsibilities Include:
- Entering submitted charges/charts and into the system using applicable medical codes.
- Analyzing medical records and recognizing deficiencies against preexisting conditions in the documentation.
- Serving as subject matter and resource expert to other coding team members.
- Reviewing and verifying documentation supporting the diagnoses, procedures, and treatment outcomes.
- Organizing medical reports.
Nurses
A registered nurse can do various types of jobs for health insurance companies from home, including providing support and services to patients or physicians’ offices directly.
Key Job Responsibilities Include:
- Reviewing case data for claims related to workers’ compensation.
- Reviewing documentation to make sure appropriate care is being followed.
- Following stringent protocols to figure out if patients meet the insurance reimbursement standards.
- Pre-certifying people for medically compulsory procedures and hospitalizations.
Physicians
Physicians can work as remote physicians, or medical directors, for the health insurance companies regarding various insurance programs.
Key Job Responsibilities:
- Providing telemedicine services from home.
- Reviewing medical records of patients to figure out if specific procedures and treatments were medically necessary.
Key Remote Working Benefits
- Enhanced Work-Life Balance
Since a person gains work flexibility with remote schedules, he is able to maintain and enhance the work-life balance for personal and professional growth simultaneously.
- Improved Inclusivity
With remote work, insurers can hire talent from different cultural, geographic, and socioeconomic backgrounds, leading to diversity in talent.
- Less Commute Stress
Most of the professionals spend approximately one hour commuting daily that adds to unwanted stress. But, with remote working, you need not go anywhere.
- Location Independence
People looking for jobs, especially from rural areas, can easily work for insurance companies from their homes irrespective of their location.
- Cost Savings
When people work from home, they get to save on costs related to transportation, fuel, parking, car maintenance, etc.
- Increased Productivity and Performance
Since with remote working, you do not have to travel or sit along with hundreds of people; there are fewer distractions and time-wasting, leading to improved overall efficiency over time.
- Enhanced Loyalty
Since remote working comes with multiple benefits, employees are likely to become happier, more productive, highly satisfied, and stay loyal towards their employers.
Top Insurance Companies looking for Remote Hiring
According to FlexJobs, the following 10 companies are known for offering remote insurance jobs:
- UnitedHealth Group
UnitedHealth Group provides healthcare coverage and benefits services to consumers and clients in all 50 states in the U.S. and 125 countries globally.
- Aetna
It is one of the country’s premier companies that provide healthcare benefits.
- The Hartford
The Hartford, founded in 1810 is one of the nation’s largest insurance and investment businesses.
- AFIRM
AFIRM is the country’s leading provider of premium audits, loss control, and risk mitigation.
- Parallon
Parallon provides healthcare information technology, advising and full service consulting services, supply chain services, revenue cycle services, group purchasing support, and workforce management solutions.
- Humana
Humana is a renowned healthcare firm that offers varied wellness, health, and insurance services and products.
- EXL
EXL’s biggest focus area is the insurance sector but also provides services to clients in financial services, healthcare, transportation and logistics, utilities, and retail.
- Anthem, Inc.
Anthem, Inc. is recognized as the country’s biggest not-for-profit managed healthcare firm and serves one in nine citizens of the U.S.
- Lincoln Financial Group
Lincoln Financial Group’s core business areas include annuities, group and individual retirement plans, life insurance, and group benefits, comprising protection for long-term care.
- Erie Insurance Group
Erie Insurance Group offers clients business, auto, life, and home insurance products and services.
Conclusion
Remote working has definitely become a necessity, not just for insurers, but for a majority of businesses during the pandemic.
Depending on your skills and experience, you may send job applications to insurance companies regarding remote working opportunities and enjoy the associated benefits mentioned above.
If you are an independent insurance agent working from home then you definitely want to have a strong web presence and a solid digital marketing plan in order to generate insurance leads. Learn more about how to start an insurance agency from home.
Are you seeking insurance jobs working from home? Are you able to find remote insurance jobs? Let us know in the comments below.
