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Comparing the relative labor markets between the two positions we see some notable differences. The data entry position has considerably more openings and offers far less in compensation than does the insurance claims adjuster. That allows for an assumption there is more turnover in the lower skill/wage data entry than in insurance claims adjusting. “In a competitive labor market where workers can switch readily among firms, a firm that offers jobs with characteristics which make workers less satisfied than in other firms will lose staff to those other firms and will have to improve its job package to stay in business”. Additionally, the claims adjuster position requires a higher skill level requiring specific state licenses and a college degree. Thereby allowing for the salary premium compared to data entry.      

Definition of labor market for insurance claims adjusters for Allstate Insurance Company, located at 666 Maple Avenue, Hartford. Claims adjusters are required to find out how much money claimants are entitled to get on their insurance claims. The wage rate is $45,000. The workers can be recruited from the state of Connecticut or from any other state in the United States. A graduate from any discipline is preferred, however, a high school diploma is essential. A graduate with background in auto/motorcycle servicing, or a background in construction industry would get an advantage during recruitment and get a higher salary. Further, a candidate with local knowledge of Hartford would be preferred.      

The relevant labor market would be other insurance companies within the Hartford, Connecticut region. Upon conducting an internet search of "Insurance and Hartford, many listings appear (Allstate, State Farm, Phoenix Life Insurance Company and Nationwide). This reflects there is a healthy industry that has competitors advertising within the same area; and also provides options for employees who work within the two fields. Insurance claims adjuster position appears to be more competitive in the labor market owing to the fact that the qualifications needed in the field is more profound and they handle more sensitive, highly involving and more complex responsibilities to insurance companies as compared to the data entry clerks. Furthermore, they can sometimes be assigned to work in the field or with agents where they get to closely interact with clients and are able to conduct reliable research before determining and rating the insurance claims. This helps them make informed judgements in determining the extent to which a company is liable.       

In Florida, insurance claims adjusters must pass certain exams and need to hold professional qualifications. Florida has quite some distinct features as far as this field is concerned from other states within the United States as it offers the opportunity for adjusters to qualify in accordance with the Accredited Claims Adjuster Designation. Here, they are able to operate even without having to pass the state licensing exam. The state also seeks to prove that they went through twenty hours of continuing educations at least every two years according to Florida Statute regarding adjuster continuing education requirement as stated in The Intercom, (Lucy et al, 1993).

According to the Bureau of Labor Statistics (BLS), the median wage for insurance data entry clerks is $38,430 per year. Beginners may find themselves in the lower level of about ten percent with a salary of $26,510, while those with more experience in the field can earn upwards of $59,310. Besides, data entry clerks may or may not get comprehensive benefits packages, depending on whether they work full time or part time. Their development projections are mostly positive, due to the evolution of online technology that allows customers to submit applications from home, individuals with experience handling online applications are more success in this field. 


References 

Apte, U. M., & Mason, R. O. (1995). Global disaggregation of information-intensive services. Management science, 41(7), 1250-1262. 

Baran, B. (1987). The technological transformation of white-collar work: a case study of the insurance industry. Computer chips and paper clips, 2, 25-62. 

Gallagher, T. (1993). THE MOVE~ IS oven~~.;-~.

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