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Insurance transcriptionists can work for insurance companies, transcription companies, third-party contractors, law firms, and other companies that specialize in producing documentation to help process insurance claims.
The easiest way to get into insurance transcription and become familiar with it is by working for large transcription companies that hire work-at-home transcriptionists.
Allegis Transcription is often recruiting insurance transcriptionists. Applicants typically have to take a skills test before getting hired as an insurance transcriptionist but you don't need legal experience to transcribe recorded statements for them.
You can work from home as an independent contractor or work in-house as an employee for an insurance company.
Insurance companies pay well. But before applying for a transcription job with an insurance company, I recommend doing some transcription for a transcription company first to build up some experience.
To get your own clients for insurance transcription work, contact the claims department of insurance companies and contact attorneys in your area who specialize in auto accidents and workers' compensation.
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There is a lot of work in insurance transcription and thepay is higher than many other types of general transcription work.
Insurance transcriptionists transcribe insurance-related information and the transcribed documents then become part of the insurance records.
Insurance transcription includes transcribing:
- A wide variety of recorded statements, dictation, telephone conversations, meetings, interviews, memos, and general correspondence.
- Insurance claims, field investigations, medical insurance, property insurance, legal and workers' compensation documents.
- Insurance reports may include summary reports, personal reports; property theft reports; property, casualty and liability status reports; holdings, and assets; medical consultant reports, fraud investigation reports, case management reports and workers' compensation reports.
Recorded statement transcription
A large amountof insurance transcription work involves recorded statements taken in person or over the phone. Insurance companies, legal professionals, and medical professionals record statements that are part of their investigation from claimants, insured parties, defendants, and witnesses. Those statements document the case and become part of the record. Transcription of those recordings provides quick, transcribed recorded statements and expedites the claims process.
Examples of recorded statements include:
- Recorded statements from claims adjusters.
- Recorded statements from investigations, accidents, and insurance claimants (auto and home). For example,statements of an accident are recorded by plaintiffs, defendants, and witnesses to document what happened. These recorded statements are then transcribed andthe transcript can be used in a court of law.
- Recorded statements for Workers' Compensation (injured employees).
Explore a career in legal transcription
Subscribe to my FREE LEGAL transcription mini-courseand get answers to frequently asked questions about becoming a legal transcriptionist.
Clients who need insurance transcription:
- Insurance companies cover errors and omissions, property and casualty insurance, homeowners insurance, life insurance, medical insurance, business insurance, and car insurance.
- Independent insurance adjusters.
- Private investigation services.
- Human resources departments.
- And more.
Qualifications
Qualifications you'll need vary and depend on the type of recordings you're transcribing and whom you're working for. For example, transcribing recorded statements doesn't require any special training.
As for any transcription, you must be a fast, accurate typist, have good spelling skills, and have a good grasp of proper punctuation. You must have a minimum typing speed of 45 words per minute (a faster speed is better). Hearing acuity, good listening skills, and accuracy are important. You will be transcribing exactly what people are saying, including bad grammar.
Insurance transcriptionists must have a working knowledge of insurance terminology and industry procedures for insurance claim processing, health insurance processing, coding, billing, and records collection.
Some employers prefer to hire transcriptionists who have completed training in insurance, legal, or medical transcription. Others may require an associate's degree or completion of a course in insurance or legal matters.Some knowledge of anatomy, physiology, medical, and legal terminology is helpful. That’s why insurance companies often recruit medical transcriptionists although your medical knowledge doesn’t have to be extensive.
Check out this detailed, multi-media legal transcription course I recommend.
Insurance recordings may include financial terms. To become familiar with financial terms, you can read financial books or business magazines like Business Week and listen to financial TV channels like MSBNBC or Bloomberg.
Confidentiality is important in insurance transcription. You must provide an encrypted, secure file transfer service (transcription companies will provide that for you).
Format
Formats vary according to the company you're working for and companies will usually give you instructions.
Insurance transcription is often verbatim. Recorded statements should be transcribed verbatim and include all filler words, including “you know, uhs, um” and more. Some clients may allow intelligent verbatim transcripts (whichomit unnecessary words that are not relevant) to transcribe some types of recordings (e.g. dictations of investigators).
Pay
Pay varies depending on the type of transcription work and your experience but insurance companies pay well and the pay for insurance transcription is typically higher than many other types of general transcription work.
Zip recruiter mentions that the average pay for an insurance transcriptionist is $46,787/year.
Don’t apply for legal transcription work
before you know what you’re doing.
It could ruin your reputation and your chances to build a successful legal transcription career.
Check out this detailed, multi-media legal transcription course I recommend.
Not sure if legal transcription is right for you?
Find out what's involved in becoming a legal transcriptionist,how you can learn legal transcription, how you can get started, what skills and equipment you need, and more.
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