What Is an Insurance Adjuster?

A claims adjuster, insurance adjuster or loss adjuster is a person who works on behalf of an insurance company that determines whether or not a person or group claiming a loss due to some damage, be it a property damage or physically sustained damage, is due payment from the insurance company. What's more, the insurance adjuster determines not just if the insured person is owed money by the insurance company, but also how much that person is owed. Insurance adjusters are usually actual employees of an insurance company, but some work as independent consultants. In what follows, you'll learn more about what an insurance adjuster does on a day to day basis and about some of the hazards that come with the occupation.

 

In order to do their jobs, claims adjusters investigate claims by interviewing witnesses and the claimant, visiting places like police stations and hospitals to investigate their records and going from place to place to inspect damages. An insurance adjuster deals with levels of depreciation, the cost of replacement and the actual cash value of property in making his or her claims adjustment. In most cases, insurance adjusters don't acquire a specific degree to get their job, although most positions require a bachelor's degree with experience in finance. Unlike many similar positions, insurance adjusters don't go through a formal certification process. However, many insurance adjusters that work for big insurers go through lengthy company training processes that effectively work as certifications processes. Large insurers often seek out claims adjusters from other specialized fields to become working experts for them; for example, an insurer might hire a top physical engineer to investigate cases of industrial claims. Insurance adjusters tend to be both very personable and highly intelligent, as they must deal tactfully with those that they interview and be able to carefully scrutinize many different types of documents, including medical records and police reports.

 

What's more, an insurance adjuster will likely also have to work with lawyers on the insurance company's behalf, making him the point man for many different people in the process. If you're thinking of becoming an insurance adjuster, prepare for a lifestyle not particularly well suited to keeping a happy family. Claims adjusters spend a lot of time traveling and often need to work late hours in order to meet the schedules of those they interview; what's more, like most legal proceedings, work is often done on very short notice. It's not uncommon for spouses to both be claims adjusters for the same company and work in teams, which allows them to travel together and maintain a healthy relationship while both earning a salary. One particularly difficult type of insurance adjuster is a catastrophe adjuster, who may travel all over the country or even the world to investigate claims under terrible circumstances.