Profession loss adjuster

Loss adjusters treat and evaluate insurance claims by investigating the cases and determining liability and damage, in accordance with the policies of the insurance company. They interview the claimant and witnesses and write reports for the insurer where appropriate recommendations for the settlement are made. Loss adjusters' tasks include making payments to the insured following his claim, consulting damage experts and providing information via telephone to the clients.

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Personality Type

  • Conventional / Enterprising
  • Conventional / Realistic
  • Enterprising / Conventional

Knowledge

  • Insurance law

    The law and legislation concerning the policies of transferring risks or losses from one party, the insured, to another, the insurer, in exchange for a periodic payment. This includes the regulation of insurance claims and the business of insurance.

  • Actuarial science

    The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.

  • Claims procedures

    The different procedures that are used to formally request a payment for a suffered loss from an insurance company.

  • Principles of insurance

    Understand the principles of insurance, including third party liability, stock and facilities.

  • Types of insurance

    The various types of risk or loss transfer policies that exist and their characteristics, such as health insurance, car insurance or life insurance.

Skills

  • Handle incoming insurance claims

    Manage, process and evaluate submitted requests for insurance in case a problem, which is covered under an insurance policy, occurs. The claim may or may not be approved, based on assessment of the circumstances.

  • Estimate damage

    Estimate damage in case of accidents or natural disasters.

  • Compile appraisal reports

    Compile full reports of appraisals of properties, businesses, or other goods and services being appraised using all the data gathered during the appraisal and valuation process, such as financial history, ownership, and developments.

  • Present evidence

    Present evidence in a criminal or civil case to others, in a convincing and appropriate manner, in order to reach the right or most beneficial solution.

  • Initiate claim file

    Start up the process to file a claim for a customer or victim, based on the judgement of the damage and the responsibilities of the parties involved.

  • Propose settlements

    Take into account the damage appraisal or incident and injury reports in order to suggest a settlement to insurance professionals which would settle the claim with the claimant, such as estimating repair costs for damages or a reimbursement of medical costs.

  • Assess coverage possibilities

    Examine the reports dealing with damage appraisal or injury examination in order to verify whether the insured's damages or injuries are covered in their insurance policies, and if they are to assess to which extent they are covered and what settlements the insurer may have to provide.

  • Check for damaged items

    Identify products that have been damaged and report the situation.

  • Organise a damage assessment

    Organise a damage assessment by indicating an expert to identify and examine the damage, give information and instructions to experts and follow up on the experts, and write a damage report.

  • Manage claim files

    Follow up on the progress of a claim file, keep all parties informed of the status of the file, ensure the customer receives the damages owed, treat any problems or complaints from customers, close the file and give information to an authorised person or department when there is suspicion of fraud.

  • Review insurance process

    Analyse all documentation related to a specific insurance case in order to ensure that the application for insurance or the claims process was handled according to guidelines and regulations, that the case will not pose significant risk to the insurer or whether claims assessment was correct, and to assess the further course of action.

  • Analyse claim files

    Check the claim from a customer and analyse the value of the lost materials, buildings, turnover or other elements, and judge the responsibilities of the different parties.

  • Document evidence

    Document all evidence found on a crime scene, during an investigation, or when presented in a hearing, in a manner compliant with regulations, to ensure that no piece of evidence is left out of the case and that records are maintained.

  • Manage claims process

    Manage the relation with an insurer related to its obligation to receive, investigate and act on a claim filed by an insured.

  • Negotiate settlements

    Negotiate with insurance companies and insurance claimants in order to facilitate agreement on a settlement which the insurance company has to provide for the claimant, such as covering repair costs for damages, taking into account the appraisal reports and the coverage assessment.

  • Interview insurance claimants

    Interview people who have filed claims with the insurance corporation they are insured with, or through specialised insurance agents or brokers, in order to investigate the claim and the coverage in the insurance policy, as well as detect any fraudulous activities in the claims process.

Optional knowledge and skills

obtain financial information advise on insurance policies manage contract disputes create cooperation modalities assess customer credibility fraud detection prepare financial auditing reports classify insurance claims collect property financial information create a financial plan investigate occupational injuries determine cause of damage identify damage to buildings conduct financial audits ensure cross-department cooperation listen to the stories of the disputants analyse financial risk provide information on properties

Common job titles

  • Content claims specialist - in-house
  • Claims adjuster
  • Property insurance claims adjuster
  • Claims adjuster trainee
  • Total loss auto adjuster
  • Bristol west total loss claims rep
  • Claims adjuster field, orlando, fl
  • Total loss adjuster
  • Level i claims adjuster
  • Auto total loss appraiser