Insurance Average Salaries in Philippines 2019

How much money does a person working in Insurance make in Philippines?

50,334 PHP per month

Average Monthly Salary

A person working in Insurance in Philippines typically earns around 50,334 PHP per month.

This is the average monthly salary including housing, transport, and other benefits.

Salaries differ drasticly between different Insurance jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job Title

Average Salary

Actuarial Analyst	57,954 PHP
Actuarial Assistant	44,065 PHP
Actuary	55,260 PHP
Adjustment Insurance Clerk	33,218 PHP
Assistant Broker	43,633 PHP

Assistant Claims Manager	52,247 PHP
Associate Insurance Representative	39,676 PHP
Auditing Insurance Manager	71,699 PHP
Broker	47,361 PHP
Claim Advocacy Professional	49,877 PHP
Claims Adjuster	32,473 PHP
Claims Analyst	38,005 PHP
Claims Examiner	37,538 PHP
Claims Manager	56,424 PHP
Claims Processor	37,231 PHP
Claims Representative	35,447 PHP
Claims Resolution Specialist	52,035 PHP
Claims Supervisor	49,069 PHP
Complaints Specialist	47,192 PHP
Compliance Officer	38,523 PHP
Consultant	47,119 PHP
Eligibility Specialist	48,249 PHP
Insurance Account Manager	51,612 PHP
Insurance Accounts Executive	53,094 PHP
Insurance Agent	41,626 PHP
Insurance Analyst	50,471 PHP
Insurance Appraiser	50,765 PHP
Insurance Claims Clerk	34,717 PHP
Insurance Examiner	43,766 PHP
Insurance Investigator	48,230 PHP
Insurance Manager	63,649 PHP
Insurance Operations Manager	65,617 PHP
Insurance Policy Processing Clerk	35,782 PHP
Insurance Pricing Assistant	44,673 PHP
Insurance Program Manager	55,144 PHP
Insurance Project Manager	54,187 PHP
Insurance Quality Assurance Agent	42,903 PHP
Insurance Sales Agent	37,757 PHP
Insurance Sales Director	56,825 PHP
Insurance Team Leader	54,253 PHP
Insurance Underwriter	41,254 PHP
Loss Control Specialist	47,887 PHP
Loss Prevention Investigator	50,087 PHP
Loss Prevention Manager	55,547 PHP
Loss Prevention Specialist	53,482 PHP
Marine Underwriter	47,839 PHP
Medical Auditor	49,180 PHP
Monitoring and Performance Officer	41,825 PHP
Payment Services Specialist	48,298 PHP
Policy Change Director	62,748 PHP
Policy Change Supervisor	52,512 PHP
Policy Change Technician	38,087 PHP
Risk Analyst	53,809 PHP
Risk Management Director	68,887 PHP
Risk Management Supervisor	57,972 PHP
Risk Manager	66,897 PHP
Risk Modeling Manager	64,390 PHP
Title Insurance Typist	42,740 PHP
Training Manager	53,938 PHP

Insurance Jobs Salary Distribution in Philippines

Median and salary distribution monthly Philippines Insurance

Abount These Figures: Salary Range, Median and Percentiles

The Insurance salaries in Philippines range between 33,580 PHP per month (minimum salary) to 74,622 PHP per month (maximum salary).

The median salary is 52,348 PHP per month, which means that half (50%) of people working in Insurance are earning less than 52,348 PHP while the other half are earning more than 52,348 PHP. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Insurance are earning less than 38,668 PHP while 75% of them are earning more than 38,668 PHP. Also from the diagram, 75% of people working in Insurance are earning less than 68,564 PHP while 25% are earning more than 68,564 PHP.

What is the difference between the median and the average salary? What should you be looking at?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary

Insurance Salary Forecast and Trend in Philippines

How do Insurance salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Philippines Insurance

Average Salary 2016	=	45,136 PHP
Average Salary 2017	+4%	46,806 PHP
Average Salary 2018	+4%	48,538 PHP
Average Salary 2019	+4%	50,334 PHP

Percentage increase and decrease are relative to the previous value

Insurance salaries in Philippines are rising in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 4% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.

Insurance Hourly Average Wage in Philippines

290 PHP per hour

Average Hourly Wage

The average hourly wage (pay per hour) in Philippines for Insurance is 290 PHP. This means that the average person in Philippines earns approximatly 290 PHP for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one working hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.

Insurance VS Other Jobs

Salary Comparison Between Insurance and Insurance monthly Philippines

We compared Philippines salaries for Insurance and All Jobs and we found that Insurance salaries are 0% less than those of All Jobs.

Salary Comparison By City

City	Average Salary

Antipolo	55,213 PHP
Cagayan de Oro	53,424 PHP
Cebu	57,147 PHP
Dasmarinas	48,241 PHP
Davao	59,245 PHP
Kalookan	58,112 PHP
Las Pinas	50,439 PHP
Makati	49,457 PHP
Manila	60,092 PHP
Paranaque	52,447 PHP
Pasig	54,243 PHP
Quezon City	61,052 PHP
Taguig	56,344 PHP
Valenzuela	51,271 PHP

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