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How to become an Insurance Loss Adjuster

insurance loss adjuster careers

What does a Insurance Loss Adjuster do?

Loss adjusters are independent claims specialists appointed by insurance companies to investigate complex or unusual claims.

They visit the site of the loss or damage to investigate the causes and check that the items are covered by the policy. Once on site duties may include:

  • surveying any physical damage
  • requesting detailed reports to be compiled by specialists such as building surveyors
  • asking for valuation certificates for stock
  • requesting reports from the police or fire brigades
  • ensuring the property is protected and secure.

After the site visit, they present a report to the insurers, making recommendations on the payment to be made in settlement of the claim. They will also explain their recommendations to the claimant. In cases where the policy does not cover the claimant’s loss, it is their responsibility to explain this to them.

In cases where fraud is suspected, they will investigate further by, for instance, checking a company’s accounts to see if they were in financial difficulties.

What's the working environment like working as a Insurance Loss Adjuster?

Normal working hours are 9am to 5pm, Monday to Friday; however unsocial hours may be required for emergencies or home visits.

Although loss adjusters are usually home based, they do spend the majority of their time visiting claimants or sites so a current driving licence is essential. They may have to visit sites, such as train crashes and factories immediately after an accident; this can be dirty, dangerous and sometimes distressing. Travel abroad may also be necessary.

What does it take to become a Insurance Loss Adjuster?

To be an insurance loss adjuster you should:

  • be impartial and have integrity
  • possess good powers of observation for investigation work
  • have excellent written and spoken communication skills
  • be very tactful and understanding when dealing with claimants
  • be able to identify fraudulent claims
  • be able to work to tight deadlines
  • be able to absorb information quickly.

Insurance Loss Adjuster Career Opportunities

Loss adjusters work for specialist loss adjusting firms, which can be found in all parts of the country and range from small firms employing just one adjuster to large firms employing 200 or more adjusters. They can also work abroad for British or foreign firms. There are opportunities for self-employment. Opportunities for loss adjusters are growing due to an increase in the number of claims being made.

Contact the Financial Services Skills Council for details of skills shortages and approved qualifications in the financial services sector.

Further information

If you would like to know anything about Insurance Loss Adjuster that does not appear on Hotcourses, further information can be found below.

Financial Services Skills Council (FSSC)
51 Gresham Street
London
EC2V 7HQ
Tel: 020 7216 7366
www.fssc.org.uk

Chartered Insurance Institute (CII)
20 Aldermanbury
London
EC2V 7HY
Tel: 020 8989 8464
www.cii.co.uk

Chartered Institute of Loss Adjusters (CILA)
Peninsular House
36 Monument Street
London
EC3R 8LJ
Tel: 020 7337 9960
www.cila.co.uk

Financial Services Authority (FSA)
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel: 020 7066 1000
www.fsa.gov.uk

Facts and Stats:

  • The UK pet insurance market is worth more than £110m
  • Insuring the Mona Lisa would cost an estimated $35m
  • The Great fire of London in 1666 heralded the introduction of fire insurance on buildings

Courses to help you become a Insurance Loss Adjuster