Chartered loss adjuster
Loss adjusters are independent claims specialists who investigate complex or contentious claims on behalf of insurance companies and help policyholders restore their property to full working order. Within the sector, they are sometimes referred to as domestic adjusters or commercial adjusters. Loss adjusters investigate at the scene of an incident to establish the causes of the loss (damage or destruction of property) and whether it is covered by the insurance policy. They then write reports for the insurer, assessing the validity of the claim and recommending appropriate payment.
Claims could be caused by a wide range of incidents including flood, accident, fire (including arson), theft or fraud, giving the job plenty of variety.
The broad range of activities includes:
Although this area of work is open to all graduates, a degree/HND in the following subjects may increase your chances:
The degree subject is generally less important to employers than showing the competencies and potential to handle the varying demands of work as a loss adjuster.
Entry without a degree or HND is possible for school or college leavers with A-level/Higher or equivalent qualifications. Work would probably start in claims handling for an insurance company.
Postgraduate qualifications are not necessary for entry and do not usually increase your chances.
Previous experience in fields such as insurance, engineering, accountancy or surveying may be very helpful; loss adjusting is frequently a second career.
Candidates need to show evidence of the following:
For more information, see work experience and internships and search courses and research.
Some larger loss adjustment firms have structured graduate training schemes. However, whether in such a programme or not, most new entrants spend some time learning the mechanics of the claims handling process in a desk-based role before commencing site visits. It is then usual to accompany experienced loss adjusters on site visits before handling cases single handed.
Training combines hands-on experience and learning from experienced colleagues, with part-time study to gain qualifications from the Chartered Institute of Loss Adjusters (CILA) .
Graduates who enter loss adjusting without prior relevant professional qualifications must gain two years' professional experience in insurance claims or working in loss adjusting before progressing to the next stage. They can also obtain a professional qualification approved by CILA (such as the Diploma CII (Chartered Insurance Institute (CII) ).
The next stage is to pass three written examinations, C1, C2 and C3, from CILA in order to gain Diploma status, before progressing to Chartered (Associate) status. An alternative route is to pass the Certificate level papers CH1, CH2 and CH3 which, with two years' work experience, lead to certification, then on to Associate level papers C2 and C3. At this point the training paths converge as you progress towards the Diploma and eventually Chartership or Associateship. To achieve this you must be over the age of 25 and have gained five years' experience as an independent loss adjuster, which will need to be demonstrated through a record of continuing professional development (CPD).
In order to be elected as a Fellow of CILA, you will need to have a further five years' continuous experience as an independent loss adjuster and comply with CILA's CPD requirements.
Once qualified, continuing professional development is of vital importance, given the frequent changes in both insurance regulations and new technology.
After gaining chartered loss adjuster status following successful completion of the Chartered Institute of Loss Adjusters (CILA) examinations, there are several possible routes to career development, including technical specialisation and management. As even larger firms of loss adjusters are still relatively small organisations, it is usually necessary to adopt an active approach to furthering your career and you may need to move employers in order to progress.
Within larger firms, there will be teams handling most types of claims as well as a management route to follow. These firms take instructions from a wide range of insurers as well as reinsurers and Lloyd's of London . Typically, the first step is to become leader of a team handling particular categories of claim, such as fraud or subsidence. Some firms have several offices across the country, giving additional opportunities to move into branch management. The work could then include human resource management, financial planning and monitoring, strategic planning and marketing.
It is possible to specialise in a particular area such as accident investigation, property or fraud instead of prioritising management responsibilities. With ever increasing use of sophisticated technology in both investigation and in building techniques, there is a greater demand for skilled specialists.
Some smaller firms regularly hire loss adjusters on a case-by-case basis, so there are opportunities for those with experience and a good track record to work freelance. It is also possible to set up your own company.
There is considerable scope for overseas travel, both for individual claims and on a longer-term basis. This is particularly the case when working on behalf of large insurers or reinsurers, whose own clients are global businesses. Financial loss adjusting gives particularly good scope for overseas assignments when investigating claims. Some of the larger UK-based firms of loss adjusters also have overseas offices.
Loss adjusters are traditionally employed by independent firms. The Chartered Institute of Loss Adjusters (CILA) allows its fully qualified members to work directly for a wider range of employers including brokers, insurance and reinsurance companies.
Companies have broadened their scope beyond taking instructions from insurers to investigate and validate claims. They now seek to offer comprehensive claim and risk management services to corporate clients, a service where demand is driven by increasing insurance premiums and these organisations' desire to keep these costs under control.
Firms of loss adjusters can also take instructions from policyholders, advising them on preparing and negotiating claims through to settlement. These range in size from sole practitioners to hundreds of staff and are located around the country. In-house loss adjusting teams within large insurance companies are also located nationwide.
Firms can cover many fields, such as:
Major employers include McLarens Young International, GAB Robins and Cunningham Lindsey.
It is also possible to work directly for a broad range of companies outside insurance. This reflects an increasing emphasis within the profession to minimise and manage the risk of incidents which lead to claims in the first place.
See the Recruitment and Employment Confederation (REC) for further details about specialist recruitment agencies.
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