Insurance Claims Specialist salary in Monaco

Average Yearly Salary of Insurance Claims Specialist in Monaco is approximately 130,383 EUR (130,135 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Insurance Claims Specialist do?

An insurance claims specialist is responsible for processing and managing insurance claims on behalf of policyholders. They review policy coverage, assess damages or losses, investigate the claim, and determine the appropriate settlement amount. They communicate with policyholders, insurance agents, and other relevant parties to gather necessary information and documentation. Additionally, they may coordinate with adjusters, appraisers, and legal professionals to ensure accurate evaluation and resolution of claims. Attention to detail, analytical skills, and knowledge of insurance policies and regulations are essential in this role. Insurance claims specialists also need strong communication and negotiation abilities to handle inquiries, explain claim processes, and negotiate settlements. They must maintain accurate records and adhere to company policies and industry standards.

Skills: Insurance, Claims, Specialist, Settlements, Policyholders, Regulations
Job industry: Insurance

How much does Insurance Claims Specialist make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Insurance Claims Specialist a well paid job?

No, our data shows that Insurance Claims Specialist is typically not a well-paid job. The salary varies based on experience. Meaning that even though Insurance Claims Specialist might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Insurance Claims Specialist?

High salary for Insurance Claims Specialist would be somewhere between 143,421 EUR and 189,055 EUR. However this is an estimation based on Gaussian Distribution.

How much can you save working as Insurance Claims Specialist in Monaco?

Living in Monaco the approximate monthly expenses are: 7,443 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 130,383 EUR
Estimated Monthly Salary: 10,865 EUR
Estimated Weekly Salary: 2,507 EUR per week
Estimated Hourly Salary: 63 EUR per hour
By working as Insurance Claims Specialist a person can save up to 3,401 USD per month or 40,817 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Monaco, see costs of living in Monaco.

Salary comparison to region and neighbouring coutries

Country's neighbours are: France, Italy.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Insurance Claims Specialist

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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