Chartered loss adjuster

Loss adjusters are impartial and independent insurance claims specialists. Insurance companies send claims inspectors to check upon the circumstances and for larger or more complicated claims, they employ the skills of a loss adjuster. Loss adjusters are experts in many fields and they can advise both the insurance company and the policyholder on repair including emergency repairs which might be necessary to secure property or to limit further damage or loss. They will be familiar with specialist firms in the area who can undertake work in connection with the claim. They help to collect all relevant information concerning claims and then send it to the insurance company with their recommendations so settlement of claims can be made as quickly as possible. Loss adjusters also deal with the police to help trace any stolen goods.

Each loss adjuster may work for many insurance companies. These companies know they can rely on their skill and impartiality. The loss adjuster reports his findings and recommendations to the insurance company. The company is then in possession of full facts on the matter and is able to make a decision.

Some policyholders like to consult their own experts commonly known in Ireland as loss assessors.

Work activities

• Visiting the policyholder to discuss the circumstances of the claim.
• Preparing reports for the insurnace company.
• Checking that the loss or damage falls within the terms of the insurance policy.
• Checking the amounts being claimed are fair and reasonable.
• Advising how home security or safety could be improved to avoid a further incident.

Work conditions

Travel: a regular feature of the working day.
Working hours: regular addition hours is the norm including evenings and weekends responding to emergencies.
Opportunities for self-employment: possible.

Typical employers

• Loss adjusting firms
• Brokers
• Insurance and reinsurance companies.

Career development

Opportunities to specialise to move into more management roles exist. With experience freelance work opportunities arise as well as the opportunity to open own practice.

Specific degree subjects required

Open to non-graduates and graduates of any discipline.

Other relevant degree subjects

• Accountancy
• Actuarial & financial studies
• Business studies
• Commerce
• Economics
• Finance
• Risk management
• Statistics.

Postgraduate study

Pre-entry postgraduate qualification is not required.

Specific entry requirements

Details of registration requirements to become a student member of the Chartered Institute of Loss Adjusters (CILA) can be accessed from their website.

Training

Training is mainly on the job under the guidance of more experienced colleagues. Some larger firms may have structured graduate development programmes.

Tips for applications

A basic knowledge of accounts and book-keeping is helpful.

Skills and qualities

• Impartiality and a sense of fairness.
• Excellent communication skills both written and verbal.
• High level of organisation skills.
• An enquiring mind and a high level of investigative skills.
• Tact, sympathy and patience.
• Observatoion skills and a methodical mind.
• Excellent attention to detail and accuracy.
• Excellent negotiating and bargaining skills.
• Ability to handle complex information.
• Resourcefulness and ability to manage several tasks and projects simultaneously.