role of a loss adjuster
DESCRIPTION
Role of a LOSS ADJUSTER. Introduced by. Alison Gamble BA (Hons) Dip CII Technical Marketing Manager. Basic outline. Investigate and manage the settlement of insurance claims Typically appointed by insurance companies - PowerPoint PPT PresentationTRANSCRIPT
Role of a LOSS ADJUSTER
Introduced by
Alison Gamble BA (Hons) Dip CIITechnical Marketing Manager
Basic outline
• Investigate and manage the settlement of insurance claims
• Typically appointed by insurance companies
• Collate the facts about a loss and make recommendations about how to settle the claim
• Oversee whatever action is required to conclude the claim
Collating the facts
Meeting with the Insured
Purpose• To establish the nature of the risk
– Moral & Physical Features– Value at Risk– Warranties and Special features
• To establish the background & circumstances of incident so that we can determine whether or not
there is an admissable claim under the Policy• To provide advice to the Insured and explain the
claims process
Collating the facts - Fire
• Definition of Fire– Actual ignition– Something on fire that should not be
• Time day & date of discovery – whom/how• Circumstances• Point of origin• Cause• Spread & Stop• Extinguishment• Nature & extent of damage• Adequacy of sums insured
Collating the facts - Fire
Collating the facts - Flood
Is it covered?
• Insurance policy is the contract
• Principles of insurance and insurance law
• Financial Ombudsman Service
• Potential for fraud
Dealing with the claim
• Validating the extent of loss
• Deciding the best course of action
• Overseeing the conclusion of the claim
• Pursuing a recovery or contribution
Skills required
• Flexible and able to deal with different situations
• Confidence to control the visit
• Calm and able to think under pressure
• Enquiring mind and attention to detail
• Good with people
Professional qualifications
Recruitment, Training & Qualifications
• Rare to begin as an Adjuster• Diverse backgrounds• Certificate Level 3• Diploma Level 3• Chartered status Level 7• Work toward Associateship• C.P.D. required• 5 years Fellow
Role of a LOSS ADJUSTER