Claims Adjusters, Appraisers, Examiners, and Investigators

Nature of work

• Claims adjusters, appraisers, examiners, and investigators primarily work for property and casualty insurance companies to determine whether a customer’s insurance policy covers a loss, and how much of the loss should be paid to the client.  The jobs of these positions many time overlap in function, but the insurance industry usually assigns specific roles to each position.
• Adjusters investigate claims by interviewing claimants and witnesses, inspecting property damage, consulting police reports, etc., to determine the extent of the company’s liability.  They write a report and negotiate with the claimant to settle the claim.
• Examiners do similar work as adjusters, but their primary job is to ensure that proper guidelines have been followed in negotiating claims.  For instance, examiners may analyze health claims to see whether costs are reasonable on the basis of diagnosis.  They check claims for accuracy, consult policy files, and authorize appropriate payment.
• Appraisers assess the cost or value of an insured item.  They relay this information to the adjuster who incorporates this appraisal into the settlement.
• Investigators handle claims in which the company suspects fraudulent or criminal activity.  They obtain background information on claimants and obtain witness testimonies.  They may also perform surveillance work, covertly observing claimants for several days to rule out or confirm fraudulent activity.

How to prepare for this career

• Claims adjusters, appraisers, examiners, and investigators enter the field with a variety of backgrounds.  If you have a special interest in a specialized area (i.e. industrial/building claims, worker’s compensation, health/life insurance, product liability, automobile insurance), obtain experience and training in that area.  For instance, a medical background is useful for those working in life insurance claims, experience in auto body repair helps in assessing vehicle damage, and architectural training may assist persons working to investigate fire damage claims.  Obtain elective courses that tailor to your area of interest.  If you are not for sure what courses/training would be best for your interest area, contact employees currently working in that position and interview them for their advice. (For more information on conducting informational interviews such as these, contact UMKC Career Services: http://www.career.umkc.edu/)
• Check your state’s licensing board for the requirements you must meet to practice your profession.  This information could also be obtained from a mentor when conducting an information interview.
• Review websites about these professions.  Helpful starters may include www.aicpcu.org and www.claim.org.

Job Outlook

• This job is expected to grow about as fast as average for all occupations.

Earnings

• Median annual earnings for these occupations were reported as $44,220 in 2004.  The middle 50 percent reported earning between $33,900 and $57,410.

For more information on Insurance Underwriters, see http://www.bls.gov/oco/ocos125.htm

Information obtained from:

Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2006-2007 Edition.  Retrieved on the Internet at http://www.bls.gov/oco on May 18, 2006.