Do you like knowing how things work and understanding their value? Are you analytical and mathematically inclined?
What do they do?
A Claims Appraiser works for an insurance company and is responsible for determining the value of an insurance claim. They review the policy, work with the policyholder, and ultimately assign a dollar value to a loss to assist in the settling a claim. Like Adjusters, Appraisers must understand the legal aspects of insurance policies and must be able to explain how they arrived at a certain conclusion, including their estimations and valuations. An Adjuster’s work may include the appraisal function, but an Appraiser alone does not settle a claim.
Why is it important?
How a loss is appraised directly impacts the amount of a claim settlement, so Appraisers must be well informed and thorough and have a high degree of integrity. It is important to have a frame of reference in assigning dollar values to loss, so Appraisers must be resourceful in getting answers to questions they do not know, and continually build on their knowledge and experience.
- Work with the carrier and the claimant to understand the loss
- Thoroughly review the insurance policy to understand the coverage and determine what needs to be appraised
- Assess damage or loss, confer with the claimant, forensic experts and others as needed, and assign a dollar value to a loss
- Prepare reports for the insurance carrier, Adjuster or claimant
- Active listening
- Customer Service Orientation
- Complex Problem Solving
- Good Judgment and Decision Making
- Mathematically Inclined
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: Claims Trainee > Claims Representative/Clerk > Appraiser
- OII Claims Appraiser Profile
- IIC Claims Appraiser Profile
- The National Alliance Claims Profile
- IMUA Claims Overview
- Surety and Fidelity Association Claims Overview
- US Bureau of Labor Statistics Occupational Outlook Handbook
- Meet a Claims Appraiser
- Inland Marine Underwriters Association Career Path Video
- NAPSLO Career Video
- 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)