What does a Claims Adjuster do?
|Citation||Retrieved in 2017 from BLS.org|
Claims Adjuster inspect the damage to the property to include automobile, home, or business dwellings to determine how much financial obligation the insurance company has for the findings of damage. They are usually employed by insurance companies and are required to travel inspecting damaged property, automobiles or buildings, and conducting surveillance for the insurance company within their community or residing state.
How to Become a Claims Adjuster
Claims adjusters need a minimum of a high school diploma and can get on-the-job training to begin working in this field. However, a more common trend is that employers are seeking candidates with associates or bachelor’s degree in business, accounting, or related areas.
Some states may require you become licensed to be a claims adjuster. In which case, you would have to take an exam. Many states also require you to have a certain number of hours working in this career field as well. Look at your state requirements to find out more details regarding how to get licensed.
Job Description of a Claims Adjuster
Claims adjusters have a variety of tasks depending on the type of insurance company they work for, but typically investigate, evaluate and settle insurance claims. They research the insurance policy to find out the amount the insurance company should pay. They conduct surveillance to ensure the claims are not fraudulent and may even look at police reports.
He or she would need to contact the doctor’s or employer of the claimant on questionable claims and may confer with legal counsel if necessary. They are the ones that negotiate settlements and authorize payments on the insurance company’s behalf. They must have a thorough knowledge about what their company insures.
For instance, they would need to understand housing and construction costs to evaluate fire or flood damage if their company carries property and casualty insurance. In the case of health insurance one must have the ability to determine what types of treatments are needed and which are questionable.
Claims adjusters work in offices or are out in the community investigating, gathering information, or speaking to individuals face to face or by telephone that are involved in the claim. Adjusters typically work 40-50 hours and work loads can be stressful at times. Most work for insurance companies or act as independent contractors. There is a slower than average growth rate projected by the Bureau of Labor Statistics for this occupation, however they project that this may change especially with the aging population and health insurance changes. More and more medical insurances are beginning to look for claims adjusters for medical disputes