WHAT IS AN INSURANCE CLAIMS ADJUSTER?
Claims Adjusters serve a critical role in the insurance industry. Claims Adjusters (sometimes referred to as Insurance Adjusters) determine how liable the insurance company is after an incident occurs. It’s an adjuster’s job to determine the pay-out from the insurance company to the policyholder.
CLAIMS ADJUSTER ROLES AND RESPONSIBILITIES
Claims adjusters and investigators evaluate insurance claims and, through their research, decide whether an insurance company must pay a claim and, if so, how much. Although the investigation process varies from depending on the insurance company a policy, claim adjusters will:
- Ensure claims are not fraudulent
- Determine whether the insurance policy covers the loss claimed
- Investigate and evaluate insurance claims (reading police reports, contacting doctors, making on-site visits, assessing equipment/items in question in-person, etc.)
- Determine the appropriate amount the insurance company is liable for
- Talk with legal counsel, if needed.
- Negotiate settlements and authorize payment
JOB SKILL SET
Organized/Detail Oriented
Accountable/Dependable
Listening/Communication Skills
Empathy/Negotiation Skills
EXPERIENCE AND QUALIFICATIONS
Experience
Months
6 months Call Center or Customer Service experience
High School Diploma
High School Diploma or equivalent
6 months insurance-related work experience
High School Diploma or equivalent
Bachelor's Degree preferred
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ADDITIONAL INFORMATION
- Tell me about a time you had a difficult customer situation and how you handled it.
- How do you stay organized?
- What is your process for ensuring your work is accurate?
- If you suspect someone is lying to you, what do you do?
- Your boss has given you two equally important projects with the same deadline and you only have time to complete one well. How did you handle this situation?
- Insurance Agent
- Cost Estimator
- Claim Examiner
- Insurance Underwriter
- Senior Claims Adjuster
- Claims Manager
- Claims Examiner/Investigator
- Insurance Account Manager
- Risk Analyst
According to the U.S. Bureau of Labor Statistics, the 2020 median income for Insurance Claims Adjusters is $ $68,130 per year ($32.76 per hour)
According to the U.S. Bureau of Labor Statistics in 2019 there were 348,800 reported Insurance Claims Adjusters.
The 2019-2029 job outlook forecast predicts a -6% change.
