Everything you need to know about becoming an Insurance Claims

The Insurance industry will always need Claims Adjusters. Also known as a Loss Adjustor, if you enjoy investigative work and talking to people, you may find it the perfect role. Read on to find out exactly what a Loss Adjuster does and how much they get paid.

What does an Insurance Loss Adjuster do?

Insurance Claims Adjusters investigate claims on behalf of insurance companies. Once a claim is logged, the Adjuster will oversee all elements of the claim, from collecting Police Reports and Witness statements to undertaking interviews, getting photos, and more. As a Loss Adjuster, you are responsible for:

Interviewing the claimant and the party the claim is against;
Collecting all relevant information relating to an incident;
Talking to any witnesses who were present to further gather knowledge about the situation;
Requesting police, medical or other reports as supporting evidence;
Collecting any documentation that supports or undermines a claim, including statements, photographs and other records;
Determining if the insurance policy covers specific claims being made and to what extent;
Collating all information into a report;
Notifying all parties affected by the claims decision.

Different types of Insurance Claims Adjusters

The type of Insurance Loss Adjuster you become will influence your day-to-day activities.

Staff Adjusters

A Staff Adjuster works for one insurance firm exclusively, full-time, responding to claims for the company. These roles are usually salaried, and Adjusters get a pension, health insurance, training and career support.

Independent Adjusters

An Independent Adjuster works for several insurance firms or third-party administrators as a contractor. Their work usually consists of catastrophe claims and travel is involved.

Public Adjusters

A Public Adjuster works on behalf of policyholders and helps individuals or businesses file claims if they’re not happy with a proposed settlement from an insurer. More often than not this role is on a contractor basis.

How much do Insurance Adjusters get paid?

Insurance Broking Claims - City and Lloyd’s

1-4 years' experience: £44,000 - £60,000
5+ years' experience: £60,000 - £85,000

Insurance Broking Claims - UK regions

1-4 years' experience: £45,000 - £60,000
5+ years' experience: £60,000 - £90,000

Insurer and MGA Claims - City & Lloyd's

1-3 years' experience: £45,000 - £60,000
4-8 years' experience: £60,000 - £75,000
9+ years' experience: £75,000 - £90,000

Claims - UK regions

1-3 years' experience: £45,000 - £60,000
4-8 years' experience: £60,000 - £90,000
9+ years' experience: £60,000 - £90,000

How to become an Insurance Loss Adjuster

You don’t need a specific qualification or degree to become a Claims Adjuster. However, degrees or experience in risk management, finance, business, surveying or engineering can strengthen your application.

Some firms offer entry-level roles and apprenticeships. Other firms offer graduate schemes, where graduates begin working in claims handling and then work their way up to adjusting.

You can get qualifications on the job through the Chartered Insurance Institute and the Chartered Institute of Loss Adjusters. The Accreditation for Chartered Status assessment means you can become an Associate member and comprises of 5 years experience in the field, a 3.5 hour written exam, and a 3,000-word analysis of a claim.