Loss Adjusting Jobs

Exchange Street Executive Search is one of the leading recruiters in the UK for loss adjusting jobs.

What are loss adjusting jobs?

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. They investigate at the scene of an incident, establish the causes of the 'loss' 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.

Typical tasks for loss adjusting jobs include:

communicating with insurers to receive instruction on new claims;

visiting the site of a loss to survey and assess the damage;

recording the situation at the site with equipment such as digital cameras and camcorders;

requesting reports from specialist third parties, such as building surveyors;

advising insurers and policyholders on the most appropriate repair or replacement technique;

interviewing the policyholder making the claim to discuss valuation and validation of the claim;

inspecting documentation to verify that the loss or damage is covered by the terms of the insurance policy to a sufficient extent;

investigating suspicious claims by inspecting claimants' records to verify the existence and value of goods being claimed for;

writing reports as swiftly as possible for the client including recommendations for settlement;

advising claimants on security and other precautions to reduce the risk of further losses in the future, e.g. installation of new alarms and security lights;

It is common for loss adjusting jobs to require work outside normal office hours. Loss adjusting jobs involve some time spent working in offices or from home, but the majority of time in loss adjusting jobs is spent 'on-site'.

Loss adjusting jobs may require involvement in incidents such as fires, train crashes and earthquakes.

Skills & Personal Qualities required in Loss Adjusting Jobs:

strong oral and written communication skills;

a good standard of numeracy;

research, investigation and analysis skills;

excellent time management;

confidence and resilience.

Entry Requirements for Loss Adjusting Jobs

There are no set minimum entry requirements for loss adjusting jobs, although qualifications in one of the areas of accountancy; building; business studies; construction; economics; engineering; insurance studies; law; mathematics; risk management; statistics; surveying, may increase chances.

Entry to loss adjusting jobs for school or college leavers would probably start in claims handling for an insurance company.

Previous experience in fields such as insurance, engineering, accountancy or surveying may be very helpful for loss adjusting jobs.

Typical Career Path for Loss Adjusting Jobs

After gaining Chartered Loss Adjusting status following successful completion of the Chartered Institute of Loss Adjusters (CILA) examinations, there are several possible routes to career development for loss adjusting jobs, including technical specialisation and management.

Within larger firms, there will be teams handling most types of claims as well as a management route to follow. Typically, the first step is to become leader of a team handling particular categories of claim, such as fraud or subsidence.

It is possible to choose loss adjusting jobs which specialise in a particular area such as accident investigation, property or fraud instead of prioritising management responsibilities.

Some smaller firms regularly have loss adjusting jobs available on a case-by-case basis, so there are opportunities for those with experience and a good track record to work freelance.

Typical Employers for Loss Adjusting Jobs

Loss adjusting jobs are traditionally available in independent firms, with the range of employers including brokers, insurance and reinsurance companies.

Firms with loss adjusting jobs available can cover many fields, such as:

construction & property

commercial & industrial

motor vehicle

marine

petrochemicals

Major firms with loss adjusting jobs available include McLarens Young International, GAB Robins and Cunningham Lindsey.

Salaries and Benefits for Loss Adjusting Jobs

These figures are only intended as a guide: (salary data collected Nov 08)

Typical starting salaries for loss adjusting jobs: £18,000 - £22,000

Typical salaries for loss adjusting jobs - three to five years' experience: £22,000 - £40,000

Typical salaries for loss adjusting jobs at senior level/with experience: £32,000 - £60,000

To see our range of loss adjusting jobs browse our list here.