Are you analytical, investigative, and resourceful? Do you enjoy working with others in helping to resolve issues?
What do they do?
Adjusters investigate, negotiate and settle claims. They work on behalf of insurance carriers, helping to determine their liability in the event of a loss and assess the validity of a claim. Adjusters inspect damage, establish the cause of loss, and determine whether and to what extent the damage is covered by existing insurance. In addition to claimants, Adjusters may consult with witnesses, experts and others to get a complete picture before making a decision. They then prepare reports and recommend appropriate claims settlements. To do their job, Adjusters must understand the legal aspects of insurance policies.
Why is it important?
It is critical that policyholders are compensated appropriately for covered losses and, simultaneously, that insurance carriers’ liability be fairly assessed so they are neither over- nor underpaying on a claim. Finding the right balance can take some digging, which is why Claims Adjusters must be well informed, resourceful and thorough in their investigative process.
- Examine claims forms and other records to determine insurance coverage
- Inspect and analyze the loss and create reasonable damage estimates
- Consult with claimants, witnesses and/or other relevant parties to fully understand the loss
- Recommend claim settlement or denial
- Complex Problem Solving
- Good Judgment and Decision Making
- Time Management
- Quality Control Analysis
Education and Professional Requirements:
- Entry-level: Bachelor’s degree, on the job training
- Advancement: Bachelor’s degree, multiple years of work experience
Possible career path: Entry-Level Claims Associate > Claims Specialist > Claims Manager
- OII Claims Adjuster Profile
- InVEST Claims Adjuster Profile
- IIC Claims Adjuster Profile
- The National Alliance Claims Profile
- IMUA Claims Overview
- Surety and Fidelity Association Claims Overview
- US Bureau of Labor Statistics Occupational Outlook Handbook
- The National Alliance: University Associate Program, Certified Insurance Counselor (CIC), Certified Insurance Service Representative (CISR)
- Independent Insurance Agents & Brokers of America: Accredited Customer Service Representative (ACSR), Associate in Insurance Account Management (AIAM)
- The Institutes: Associate in Claims (AIC)
- Insurance Institute of Canada’s Chartered Insurance Professional (CIP)