In a typical day, there are numerous meetings and conference calls with various leaders in the company. There could be customer or agent/broker interaction as well. There may be mentoring and definitely interaction with engaged employees. In meetings, you would see active leadership and sharing of ideas with a focus on empathetic claim behaviors and employee development. A great day is one where the leaders all think cohesively and are interchangeable in running the organization.
CAREER
Claims Adjusters, Examiners, and Investigators
Overview
Salary Median (2020)
$65,080
Projected Job Growth (2019-2029)
-5.8% (decline)
Career
Roadtrip Nation Leaders in This Career
What Claims Adjusters, Examiners, and Investigators Do
Review settled claims to determine that payments and settlements are made in accordance with company practices and procedures. Confer with legal counsel on claims requiring litigation. May also settle insurance claims.
Other Job Titles Claims Adjusters, Examiners, and Investigators May Have
Claims Adjuster, Claims Analyst, Claims Examiner, Claims Representative
How Leaders Describe a Typical Day at Work
The days are usually not typical but they include analysis of construction risks including exposure and control overview. I also work with field underwriting officers and assist them in providing oversight to their book of business profitability and product integration.
Tasks & Responsibilities May Include
- Examine claims forms and other records to determine insurance coverage.
- Analyze information gathered by investigation and report findings and recommendations.
- Pay and process claims within designated authority level.
- Investigate, evaluate, and settle claims, applying technical knowledge and human relations skills to effect fair and prompt disposal of cases and to contribute to a reduced loss ratio.
- Verify and analyze data used in settling claims to ensure that claims are valid and that settlements are made according to company practices and procedures.
Education
Level of Education Attained by Claims Adjusters, Examiners, and Investigators
Most common level of education among people in
this career: Bachelor's degree (56%)
High school diploma or equivalent
Some college, no degree
Bachelor's degree
Majors Related to Career
Educational Paths Suggested by Leaders
Suggested Path
High School
Bachelor
Women's Studies
Suggested Path
High School
Bachelor
Finance, General
Graduate
Business Administration and Management, General
Additional Skills & Experiences That Can Help You Excel
This role requires outstanding interpersonal/leadership skills, a strong analytical mindset and a balance between the two. Multiple years of experience in claims and an understanding of the business/industry are an asset. Public speaking, collaborative spirit, and ability to create the vision are essential.
Some of the skills required to have success in the role include time management, team leadership, insurance product knowledge, strategic planning and strong sales and negotiation skills.
Getting Started
Recommended First Step for:
College Students
Take advantage of internship opportunities in various businesses to get a feel for Corporate America. Find a field that is interesting and enjoyable to you. Passion and purpose will lead towards success.
Students should research the underwriting role within an insurance company and understand the dynamics of the job and the possible career paths that exist.
Focus on 1) the psychology of people, 2) business acumen, and 3) internships at insurance companies.
In my claim career I have worked with people having various degrees, including History, Math, English, Business, Insurance and Law. To work in insurance you must have an analytical mind, be able to use logical reasoning, have strong communication skills and understand financial services. Depending on whether you are looking for a role in claims, actuary, underwriting or agency will depend on what classes, experience or licenses you need. Take an opportunity to internship or job shadow.
Everyone
This page includes information from theO*NET 26.1 Databaseby the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under theCC BY 4.0license. O*NET® is a trademark of USDOL/ETA.
