How To Become An Independent Claims Adjuster – If you are interested in working in the insurance industry and like the idea of freelancing, you may want to pursue a career in independent claims adjusting. In this type of role, you will be retained by independent third-party firms to investigate claims for insurance companies. This often happens when these companies’ staff are overworked or when applicants are in remote locations affected by natural disasters such as fires, floods, tornadoes and hurricanes. To pursue this career path, you need to know how to become an independent claims adjuster. And that’s what this article is about. We’ve listed six key steps to help you get things started. Step 1: Make sure you meet the basic requirements. In the United States, you must be at least 18 years old, have a valid driver’s license, own a vehicle, and be able to read and write English fluently. You must be able to move freely to complete tasks in different environments. Step 2: Decide whether you need additional training. Most claims adjusters have a college degree. So if you already have an associate’s degree, bachelor’s degree, or master’s degree, you are in a good position to start working as an independent expert witness. University graduates who have completed an insurance degree are particularly attractive to potential employers. If you don’t have a degree, consider getting one. This could help you stand out from applicants without a college degree. However, you should know that it is also possible to become an independent clerk with just a high school diploma or GED. This is especially true if you have previous work experience that has helped you gain useful skills and knowledge. To graduate or not to graduate: Ultimately, the decision is yours. Step 3: Obtain your insurance adjuster license. Whether or not you need a license as an insurance adjuster depends on the state in which you live. If your state requires a license, you must obtain it in order to legally process and complete insurance claims. To achieve this, you should enroll in a preparation course that can help you understand the information needed to pass an insurance professional exam. You may also need to apply for reciprocal licenses in the other states where you might work as an independent appraiser. Also note that some IA firms may require you to have a license – regardless of which state you are based in – as this means you demonstrate appropriate proficiency in your profession. If you live in a state that does not require a license, you may choose any other state as your “designated home state” to obtain a license. When you are ready to get your first license: Complete the prelicensure preparation course offered by your home state (or your designated home state). Pass the state-required licensing exam. Run a background check if necessary. Submit your license application along with payment of the license fee. (Note: Application instructions and requirements vary by state.) You may have to wait a few weeks to receive your license, especially if you are applying in a state where there are many applicants. Step 4: Gain experience. If you already have experience as an HR regulator or in another related role, good for you! The more experience you gain as an insurance company employee, the better prepared you will be to work independently. But what if you have no professional experience in the insurance industry? Consider seeking an entry-level position as a “claims specialist” (claims clerk) with an insurance company – either as a desk clerk employed within the company or as an on-site clerk who works outside of the office. In both roles, you’ll want to learn everything about the claims process and network with others in your field. This allows you to learn about the industry while expanding your skills and knowledge and making valuable contacts. Ideally, you will be hired to participate in a formal in-house training program for aspiring recruiters. You may also have the opportunity to earn certain expert certifications that you can list on your resume. (Certifications demonstrate additional knowledge in specialized areas.) If you’re not interested in working for an insurance company, think of it this way: A staff position can be an ideal stepping stone to eventually working as an independent adjuster. Once you’ve gained some experience, you’ll be more confident and better prepared to start your freelance career. Step 5: Acquire the necessary skills. Having knowledge in these areas will help you succeed as an independent claims adjuster: Self-discipline – essential for independent work. Project management – the ability to work on multiple claims at the same time. Computer literacy – proficiency in typing and typing Use of specific software programs for independent appraisers Excellent organization – as sloppiness can lead to costly mistakes Attention to detail – particularly important for identifying fraudulent claims Records, time tracking and invoicing – as you run your own business Mobile device expertise – especially use at work-related apps that are required in this area. Communication etiquette – necessary for daily interaction with other people. Investigative research – reviewing property damage, police reports, medical records, etc. Critical thinking – analyzing and interpreting research results and calculating numbers. Written communication – conveying information clearly and effectively through emails, reports, etc. Persistence – ability to deal with unresponsive applicants and other issues. Self-Promotion – Willingness and ability to continually market your services. Lead generation – know how to actively work on attracting new business. Step 6: Learn It Use helpful tools Of course, the type of tools you need may depend on the type of claims you’re dealing with. For example, if you work as a home insurance adjuster and investigate property damage, you will need the following damage assessment tools: A mobile device with a high-quality camera, a Bluetooth laser rangefinder for precise measurements, a mobile floor plan app that allows you to: Sync with your Bluetooth device. Quickly measure and sketch properties for estimating purposes. Create and send detailed reports with sketches and photos. Store and access documents with cloud technology. Send floor plan sketches directly to Xactimate® without waiting. Conclusion Becoming an independent appraiser requires some time, effort and dedication, as well as practice in using appropriate tools. However, the overall process can lead to an in-demand, well-paying, and very rewarding career. Would you like to find out more? Be on the lookout for our follow-up article: How to Land as an Independent Contractor. Continue reading our guide to improving digital floor plans. Or learn about a dozen helpful tools for finding and documenting water damage.
Featured / Independent Claims Adjuster How to Evaluate Water Damage Claims When a Plumbing Failure Is Suspected. featured / Independent Adjuster Meets State Adjuster Licensing Requirements: A Guide for Home Adjusters Independent Adjuster How Home Insurance Adjusters Can Benefit from ISO ClaimSearch
How To Become An Independent Claims Adjuster
How to Evaluate Water Damage Claims When a Plumbing Failure Is Suspected. Complying with State Loss Adjuster Licensing Requirements: A Guide for Residential Loss Adjusters. How home insurance adjusters can benefit from ISO ClaimSearch. An independent adjuster is considered independent because they may not be directly employed by the company. not from the company or agency in question, but from a third party that specializes in homeowners or other types of insurance claims. An independent adjuster settles claims on behalf of the insurer, but not directly as an employee of the insurer. When hired as a third party, the insurer essentially outsources the claims and settlement process to a claims processing company, which then hands the matter over to one of its claims adjusters.
What Is An Insurance Adjuster?
Home contents insurance covers you against a range of damages, such as those caused by a storm or a burglary. Should you need to make a claim on the insurance policy, a claims adjuster will come to assess the damage and the merits of the claim against the insurance company.
Typically, two types of experts carry out an inspection: a public expert or an independent expert. An independent appraiser may seem to be most beneficial to the homeowner, but the difference between the two appraisers is often misunderstood.
Independent experts must comply with the licensing requirements of the state in which they practice. You can work as a 1099 independent contractor or W-2 employee. They are typically hired for one of two main reasons: high claims volume and/or legal reasons. During times of natural disasters, the number of homeowner claims increases significantly.
For example, in 2012, Hurricane Sandy destroyed large portions of the coast of New Jersey and New York and severely damaged more than 340,000 homes. As a result, home insurance companies have seen an increase in claims.
Claims Adjusting: How To Land Work As An Independent Adjuster
Insurance companies often do not have the human resources to delegate this type of responsibility, so they hire independent adjusters to make their job easier. An insurance company may hire a third-party insurance company to negotiate and adjudicate cases on its behalf. The nature of this type of work also highlights the use
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