Claims Adjusters Examiners And InvestigatorsClaims Adjusters, Examiners, and Investigators salary statistic
Claims Adjusters Examiners And Investigators Salary Report: Job Description
Claims adjusters, investigators, and examiners work mostly for insurance companies to help guarantee that monies paid out on claims are fair to the organization that they work for and that unjust or fraudulent claims are not paid out. Without these individuals, it would be possible for people to falsely claim loss or injury and the collect funds to which they were not entitled. These fraudulent claims might involve injury, loss, or death. The primary job is to protect the financial interests of the insurance company, retailer, defendant, or other entity that the claim has been filed against.
Most claims adjusters work in office environments. However, in many cases they must travel to other locations as part of their duties. This might include in person meetings with claimants or traveling to locations in order to inspect damage, speak with repair contractors, or to obtain records in medical claims.
In the event that fraud is suspected in a damage, injury, or disability claim an investigator may be given the task of following an individual to collect evidence. As part of this, they may follow that individual by vehicle or on foot. They may use surveillance equipments, cameras, and other devices to collect necessary evidence.
Depending on the severity of fraud encountered, claims adjusters, examiners, and investigators may be required to coordinate their efforts with law enforcement personnel.
In addition to this work, insurance examiners also work to ensure that insurance policies are adjusted for risk factors. For example, if they find evidence that an insured client is at higher risk of making a claim than initially thought, they will pass that information onto the insurance agent. The agent may then negotiate higher premiums or more stringent insurance terms. They may also seek to mitigate and reduce any payouts if they believe that the insured took risks that they were not supposed to. Examiners and adjusters are frequently asked to present evidence that claimants are fully or partially responsible for their own loss or injuries.
In large insurance firms, there are teams of adjusters examiners and investigators. In smaller firms the owner agent may do much of the research and investigating themselves. Private investigation firms also keep adjusters and investigators on staff to contract out to smaller insurance companies. Businesses that are self insured occasionally keep adjusters investigators and examiners on staff.
In order to earn a claims adjuster salary one must be well organized, have computer skills, and have great interpersonal skills. This job requires balancing the need to protect the financial interests of a company with the need to protect valuable customer relationships as well. Nobody wants to feel as if they are being accused of fraud or dishonesty, nor do they want to feel as if an insurance company doesn’t want to fairly compensate them for a loss.
Insurance Claims Adjuster Salary Report: Educational Requirements
People in this field frequently have bachelor’s degrees in fields relating to the insurance field. This could include degrees in business or related fields. Many study quantitative analysis. In order to earn a progressive claims adjuster salary, it is also necessary in many cases to obtain licenses and certification from government entities or regulatory bodies.
Claim Adjuster Salary Range
The median salary is 52K. However, the salary range goes from 37K to 75K. Experience in cases that require litigation is one of the determining factors in salary, although years in the field is also a deciding factor. Most people in this field work full time and receive benefits in addition to their salary.