With about 3 million people employed in the U.S. insurance industry, working for insurance companies, agencies, and brokers, it might seem impossible to break the mold regarding the choice of occupation. Everything that could be researched has already been researched, or has it?
Surprisingly enough, there are still some undervalued occupations, such as, for example, insurance claims adjuster jobs. Consistently high in demand, insurance claims at least remain steady over time. While the older generation of adjusters gradually retires, giving opportunities to young talents claims adjuster jobs can help you make a successful career in the insurance industry and some decent money, for that matter, up to $55,000 a year and more, depending on your skills and talents.
So how to become an insurance adjuster? What to begin with, and how to break through the entry barrier?
Although you cannot just blindly copy someone else’s success story and become successful yourself, there are several proven steps you will have to take before you can get your first insurance adjuster job. Without further ado, let’s dig into it.
No matter how much we would like to tell you that anyone can become a successful claims adjuster, it would be delusional.
Claims adjusters investigate insurance claims to determine the extent of liability on behalf of an insurance company. The job is pretty demanding, mainly because you have to communicate a lot with confused and, at the time, frustrated clients, let alone you must have lots of determination and willpower and manage your time effectively.
The most challenging part of the job, however, is catastrophes. When disasters like Hurricane Irma happen, the number of claims skyrockets, creating an extremely challenging – yet no less rewarding – working environment for people, businesses, and claims adjusters. If you’re ready to deal with catastrophes, most likely, you are a good fit for the job.
Although it’s okay to determine the type of claims adjuster you want to become in the first place, you should know that there are three ways to go: independent adjuster, staff adjuster, and public adjuster.
Becoming an independent adjuster is most challenging (though potentially most rewarding), so it is wise to start as either a company staff adjuster or a public adjuster. That said, claim adjustment encompasses just as many fields as insurance, and the world is your oyster! You can work in the following niches: residential, health insurance, auto insurance, bodily injuries, veterinary, workers’ compensation, and more.
More often than not, the education required to become a claims adjuster is a bachelor’s degree, though it depends on the state. In some states, a high school diploma or GED equivalent – the document confirming that your knowledge corresponds to that of a high school graduate – is enough.
Depending on your state, you may need to take a course on claim adjustment and then pass an exam to become a certified professional. But if your state doesn’t require a certificate, you can still opt for an out-of-state license – known as Designated Home State (DHS) – that will enable you to work throughout the country. Obtaining this type of license means that you’ve chosen the other state as your ‘home’ state.
In a nutshell, the process of obtaining a claim adjustment license is as follows:
Most states issue a claim adjustment license for two years, but you can renew it as often as you want.
Now that you’ve obtained your well-deserved license, you can start looking for your first claim adjustment company. Working as an independent claims adjuster from the get-go is much harder, but you can try it, too, if you are confident in yourself and the lack of experience doesn’t scare you off.
Here are a few tips to land your first job faster:
On top of that, don’t forget to spruce up your resume, research and reach the companies you’d be willing to work for, make new contacts, and remain flexible and open to new opportunities and experiences.
The states that require claim adjustment licenses will also require continuing education (CE) credits whenever you want to prolong your license, which you can get by completing live/online courses, training sessions, giving lectures, or publishing articles.
Claims adjusters investigate insurance claims to determine the extent of liability on behalf of an insurance company. That covers all claims, from property damage to injuries to disaster claims. The result of their work is that the insurance claim is settled.
There are many potential reasons why you should choose to become a claims adjuster.
First, some claim adjustment positions – for example, a catastrophe claims adjuster – can be advantageous. On average, a catastrophe claims adjuster earns about $1,000 daily when hurricanes and disasters happen.
Secondly, claim adjustment is a recession-proof industry. While circumstances can change the routine of most other workers, claims adjusters are exempt from such risks.
Finally, the entry barrier is pretty low, especially in the states where a bachelor’s degree isn’t required. You can become a claims adjuster in about four weeks!
On top of that, the job is very fulfilling and has a wide range of career options. You can work for a company, become an independent adjuster, or even start your own business.
There are over 25,000 openings for claims adjusters annually, and the demand is steady because of the peculiarities of the job. For example, you can find vacancies on Jooble, which gets more and more offers for professionals every day.
It depends on whether you are a company staff adjuster, public adjuster, or independent adjuster. The options vary from a flat salary to a percentage of the number of claims settled. For example, you can make up to 70% of the fee as an independent adjuster.
Your salary may depend on something other than the company as much as on your skills. However, among the top claim adjustment companies in the United States are TheBest Claims Solutions, Frontier Adjusters, Worley, Zurich Insurance Group, and more.
Yes, claims adjusters can work from home, having the same job dues as in-house adjusters.
No specificities apply to claims adjuster interviews. Like any other interview, research the company, clarify your selling points, skim through the most popular job interview questions, and keep your emotions at bay.
You can become a loss adjuster, an insurance appraiser, or an insurance investigator. You can also improve your knowledge in one of the claim adjustment fields (health insurance, auto insurance, bodily injuries, workers’ compensation, etc.).
Oleksandr is an expert in deep research. He covers various insurance topics across verticals, adopting to every local law.
Date added: February 1, 2023