Subrogation Specialist Salary at Madison Mutual Insurance Co BETA

How much does a Madison Mutual Insurance Co Subrogation Specialist make?

As of January 2025, the average annual salary for a Subrogation Specialist at Madison Mutual Insurance Co is $38,996, which translates to approximately $19 per hour. Salaries for Subrogation Specialist at Madison Mutual Insurance Co typically range from $36,101 to $42,880, reflecting the diverse roles within the company.

It's essential to understand that salaries can vary significantly based on factors such as geographic location, departmental budget, and individual qualifications. Key determinants include years of experience, specific skill sets, educational background, and relevant certifications. For a more tailored salary estimate, consider these variables when evaluating compensation for this role.

DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.

Madison Mutual Insurance Co Overview

Website:
madisonmutual.com
Size:
25 - 50 Employees
Revenue:
$10M - $50M
Industry:
Insurance

Madison Mutual Insurance Company is a provider of Auto, Home, Farm, and Personal Umbrella insurance and has been serving customers in Illinois, Missouri, Wisconsin, and Indiana since its founding in 1920.

See similar companies related to Madison Mutual Insurance Co

What Skills Does a person Need at Madison Mutual Insurance Co?

At Madison Mutual Insurance Co, specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

  1. Subrogation: Subrogation is the assumption by a third party of another party's legal right to collect a debt or damages. It is a legal doctrine whereby one person is entitled to enforce the subsisting or revived rights of another for one's own benefit.
  2. Customer Service: Customer service is the provision of service to customers before, during and after a purchase. The perception of success of such interactions is dependent on employees "who can adjust themselves to the personality of the guest". Customer service concerns the priority an organization assigns to customer service relative to components such as product innovation and pricing. In this sense, an organization that values good customer service may spend more money in training employees than the average organization or may proactively interview customers for feedback. From the point of view of an overall sales process engineering effort, customer service plays an important role in an organization's ability to generate income and revenue. From that perspective, customer service should be included as part of an overall approach to systematic improvement. One good customer service experience can change the entire perception a customer holds towards the organization.
  3. Claim Processing: Claims processing refers to the insurance company's procedure to check the claim requests for adequate information, validation, justification and authenticity.
  4. Written Communication: Communicating information through written media to educate, inform and influence the target audience.
  5. Claim Handling: involved in managing a claim from the start through to settlement, making decisions on the extent and validity of a claim, and checking for any potential fraudulent activity.

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Check more jobs information at Madison Mutual Insurance Co

Job Title Average Madison Mutual Insurance Co Salary Hourly Rate
2 Adjuster $46,854 $23
3 Bookkeeper $37,817 $18
4 Developer $96,259 $46
5 Licensed Insurance Agent $79,004 $38
6 Personal Lines Underwriter $62,380 $30
7 Senior Vice President $184,951 $89
8 Vice President, Operations $274,997 $132
9 Director, Information Technology $174,571 $84
10 HR Benefits Administrator $58,978 $28
11 Investment Officer $102,587 $49
12 President & Chief Executive Officer $722,691 $347
13 Property & Casualty Representative $61,948 $30

Hourly Pay at Madison Mutual Insurance Co

The average hourly pay at Madison Mutual Insurance Co for a Subrogation Specialist is $19 per hour. The location, department, and job description all have an impact on the typical compensation for Madison Mutual Insurance Co positions. The pay range and total remuneration for the job title are shown in the table below. Madison Mutual Insurance Co may pay a varying wage for a given position based on experience, talents, and education.
How accurate does $38,996 look to you?

FAQ about Salary and Jobs at Madison Mutual Insurance Co

1. How much does Madison Mutual Insurance Co pay per hour?
The average hourly pay is $19. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
2. What is the highest salary at Madison Mutual Insurance Co?
According to the data, the highest approximate salary is about $42,880 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
3. What is the lowest pay at Madison Mutual Insurance Co?
According to the data, the lowest estimated salary is about $36,101 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
4. What steps can an employee take to increase their salary?
There are various ways to increase the wage. Level of education: An employee may receive a higher salary and get a promotion if they obtain advanced degrees. Experience in management: an employee with supervisory experience can increase the likelihood to earn more.