Claims Adjuster Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a claims adjuster. Feel free to use our job description template to produce your own. We also provide you with information about the salary you can earn as a claims adjuster.
Who is a Claims Adjuster?
Insurance claims are investigated and reconciled against the claimant’s coverage in claims adjustment. Claims Adjusters determine the extent of an insurance company’s obligation and the amount of money that will be paid out on a claim to a policyholder.
Claims adjusters investigate insurance claims and calculate a fair payment amount. Any form of claim, from personal injury to property damage, can be filed. The insurance adjuster’s primary responsibility in property damage claims is to conduct a thorough investigation of the claim by:
- Examining police records
- Examining the damage
- Getting in touch with property owners
- Interrogating witnesses
Types of Claims Adjusters
Public Adjuster
Professionals that work directly for policyholders or consumers are known as public insurance adjusters. They are frequently enlisted when a person or corporation does not believe their insurance compensation is fair or adequate. For example, if you are involved in a car accident and your insurance company refuses to pay you a fair settlement, you can hire a public adjuster to evaluate your claim and fight on your behalf.
Staff Adjuster
The most common kind of insurance claims adjuster is a staff adjuster. These insurance experts work for insurance firms as part of their workforce and manage claims for their customers. The majority of staff adjusters work full-time, are salaried, and are covered by the insurance company’s benefits. A staff adjuster who works for an auto insurance business oversees claims involving automotive accidents and other auto-related mishaps are the most prevalent sort of staff adjuster.
Independent Adjuster
An independent insurance adjuster is a professional who works for numerous insurance companies or third-party organizations on a contract basis. Insurance firms hire these adjusters directly to conduct claims investigations and make claims-related decisions. Most disaster-related claims, such as hurricanes, fires, or other natural disasters that affect a large number of people, are handled by an independent adjuster. This claims adjuster may be required to travel to affected areas in order to fulfill their responsibilities.
Claims Adjuster Job Description
Below are the claims adjuster job description examples you can use to develop your resume or write a job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
- Examining the situation to see whether there has been any damage to the property or if there has been any physical injury.
- Obtaining information from a variety of sources, including police reports.
- Preparing reports for Claims Examiners to use.
- Examining any claims that appear to be false.
- Seeking advice from professionals such as lawyers, engineers, architects, and physicians.
- Compiling reports on the findings of the investigation.
- Assisting lawyers and other experts in defending the company against lawsuits.
- Determining if the claim is covered by the insured’s policy.
- Choosing a reasonable payout amount for the company.
- Ascertaining that allegations are legitimate.
- Meeting the claimant’s employers or doctors for more information, If the claim is doubtful.
Qualifications
- For entry-level occupations, a high school diploma is required.
- It is preferred that you have a bachelor’s degree in finance or a similar profession.
- Good arithmetic abilities and an analytical attitude
- Ability to work with spreadsheet software.
- Appraisal software such as Xactimate is a plus.
- Detail-oriented.
- Analytical skills are essential to determine if the insurance company is obligated to pay the claim. To make an informed conclusion claims adjusters must evaluate a variety of factors.
- Communication skills are needed to collect information from persons such as medical professionals, claimants, and witnesses. They must know how to ask the right questions in order to obtain the information they require.
- Interpersonal abilities
Essential Skills
- Attention to Detail: The ability to complete work with thoroughness and correctness is known as attention to detail. This is a critical characteristic for a Claims Adjuster to possess and use in a high-performing organization that allows both customers and employees to understand the importance of paying attention to all of the details in order to avoid massive costs for overlooked details that are common in the workplace.
- Communication Skills: Becoming able to communicate is another crucial aspect of being an adjuster. The role of an adjuster is important to the entire claims process. You must be able to negotiate and interact with a wide range of people, from carriers to contractors, lawyers, and claimants. Adjusters frequently find themselves in emotionally heated situations with claimants who have sustained significant losses. To be able to speak and negotiate in such an environment while ensuring that your carrier does not pay a huge amount is undoubtedly a skill that adjusters are in high demand.
- Ability to persuade others/to negotiate: Persuading others entails ensuring that your best ideas are given a fair hearing without the use of deception or manipulation. A Claims Adjuster must learn to think creatively about how to introduce new ideas that will help the company grow without micromanaging the employees or overburdening them with work, but with manageable goals that the employees will enjoy working on and will help them grow.
- Computation ability: Another key part of being an adjuster is the capacity to estimate the costs that the carriers must bear after a policyholder files a claim. One of the most significant abilities for an adjuster is the ability to stay objective and analytical in a stressful environment while producing estimates for a claimant and not succumb to personal emotions. In times like these, your ability to conserve money for your carrier is critical to your success. As a result, being proficient in mathematics skills and possessing a problem-solving attitude is an essential talent.
- Investigative Personality: Having a keen eye for detail and the capacity to explore loss sites for damages is one of the most crucial qualities to possess as an adjuster. The more thorough your investigations are, the more extensive your reports will be. Furthermore, it is critical not to overlook any damages at a loss site, since this will result in your insurance provider dispatching a second adjuster to conduct a re-inspection. Having your claims re-examined will reflect poorly on your track record. As a result, being detail-oriented and possessing an investigative nature will assist you in becoming a successful adjuster.
- Claims Handling: As an adjuster, you’ll be dealing with a huge number of claims. One of the defining abilities of a successful adjuster is the ability to handle several claims efficiently and ensure that they are closed in a timely manner. When hiring independent adjusters, hiring managers see your claims handling experience as one of the most important aspects to consider. As a result, as an adjuster, effective claims management is a critical ability.
- Analytical skills: Analytical Skills are the capacity to gather and evaluate data, solve problems, and make judgments in accordance with the company’s policies and laws. Employees that use clear, logical steps and outstanding judgment to analyze an issue from all perspectives before taking an action based on the objective and systematic techniques to boost a company’s productivity should be hired by a Claims Adjuster.
- Ability to strategize and learn fast: Many job processes are becoming automated in today’s fast-paced world, therefore strategizing and quick learning skills are essential. Because of the way technology is being integrated into day-to-day tasks, anyone must be aware of a variety of use-case scenarios. As a result, adjusters must be able to swiftly grasp fresh technology as they emerge in their sector and strategize accordingly.
- Ability to write Reports and Proposals: The ability to carefully document business reports and plans for an organization or project while adhering to the company’s regulations and procedures are referred to as “writing reports and proposals.” As a result, a Claims Adjuster should highlight the importance and correctness of these reports and plans to ensure that they are given on time and that the information contained in them is accurate and compliant with the company’s policies and regulations.
- Empathy: Empathy is the ability to understand another person’s situation from their point of view by putting yourself in their shoes and experiencing what they are experiencing. A Claims Adjuster should learn to be a good listener and comprehend what his employees are going through, then choose to feel it with them through imagination and accommodate them.
How to Become a Claims Adjuster
- Obtain the required education.
Having a high school diploma or GED equivalent is a basic requirement to work as a claims adjuster. If you lack these skills, you should enroll in GED classes and pass the GED exam. A bachelor’s degree or higher is not required for the majority of insurance claims adjuster positions. Having a bachelor’s degree or higher, on the other hand, may help you stand out from the crowd. Most employers prefer claim adjusters to have an associate’s or bachelor’s degree in insurance and risk management or a related field. Such schools provide training in finance, business, law, and risk assessment to aspiring claims adjusters. These programs are frequently completed fully online.
- Make a decision about the type of adjuster you’ll be.
As previously said, there are various types of insurance adjuster jobs accessible. Choosing whether you want to work as a staff, independent, or public adjuster can help you figure out what steps you need to take to get there. This will also give you a better idea of what to expect if you do get hired.
- Take an insurance licensing exam and pass it.
In several states, insurance adjusters are required to earn a license. You may need to take a pre-licensing course before you can sit for your state’s licensure exam. There are a variety of courses to choose from, and many of them are available both in the classroom and online. If you want to work in another state, you’ll need to get reciprocal licensure in the states where you want to work. Find out what your state’s requirements are in your area.
- Gain work experience
Internships and entry-level work with reputable insurance companies are a good opportunity to gain basic experience and expertise in the processes and laws that help claims adjusters do their jobs properly. Internships frequently allow early-career adjusters to shadow an experienced claims adjuster who can pass on their understanding of claim quotations, negotiation, medical jargon, and other topics.
- Keep your license active.
In states that require licensing, adjusters may be required to earn a certain number of continuing education credits each year in order to renew their license. This will assist you in obtaining and maintaining employment as an independent insurance adjuster. These credits can be obtained through online correspondence courses and employer-sponsored training events. Credits can also be earned by giving industry-related talks and/or publishing publications. A professional organization, such as the National Association of Independent Insurance Adjusters, can provide a number of possibilities for continuing education.
Where to Work
The insurance firm employs claims adjusters. They may work for the insurance business directly or as a freelance adjuster who is hired by the company to handle individual claims. In either scenario, their employer is the insurance company, therefore they will not be looking out for your best interests. It’s a good idea to hire your own independent claims adjuster to look out for your best interests during a claim. Your own claims adjuster will do everything he or she can to reduce your loss. The claimant benefits from the lack of a conflict of interest between the adjuster and the insurer. Claims adjusters work for a variety of institutions, including insurance firms, government agencies, health insurance providers (A healthcare claims adjuster is in charge of processing and authorizing payment of medical claims, as well as negotiating bills on an as-needed basis and monitoring medical bills to ensure that there are no billing errors or items that aren’t covered by insurance), and more. Claim adjusters work irregular schedules because they must interview and meet with clients. They may even be required to visit accident sites, auto repair shops, and other locations in person.
Claims Adjuster Salary Scale
In Nigeria, a Claims Adjuster earns about 131,000 NGN per month on average. The lowest salary is 64,100 NGN, and the maximum salary is 204,000 NGN (highest).
This is the monthly average paid, which covers housing, transportation, and other perks. Salary levels for claims adjusters vary widely depending on experience, skills, gender, and location.
As of January 27, 2022, the average Claims Adjuster compensation in the United States is $78,608, but the range frequently falls between $69,123 and $88,461. Salary ranges depend on various factors, which include schooling, certifications, supplementary talents, and the number of years you’ve worked in your field.