Insurance companies offer their clients insurance policies. These policies are in place to help protect individuals or businesses from financial losses in case of different types of emergencies. When an emergency happens, the policyholder has to make a claim, at which point the insurance pays out as per the agreement in the policy itself. However, the company will first determine whether the value of the claim is accurate and whether payment will be made. This is the role of companies like American Auto Shield and their insurance adjusters.
What Does an American Auto Shield Insurance Adjuster Do
The vast majority of professional insurance adjusters are people with college degrees. Additionally, they have then completed specialized adjusting training. They have to hold a license in the state in which they work. Their main responsibility is to determine whether or not a claim should be paid out on as part of the terms and conditions of the policy itself.
Adjusters investigate the different insurance claims. They do this by interviewing witnesses and claimants, research police and hospital records, and inspecting the damage to the property that has been made. They then create reports that highlight all the data they have been able to collect and the conclusions they have drawn as a consequence of this data. They will conclude that the claim made is legitimate, or that it should be declined. Their role is also to then negotiate a settlement and to make the payment as agreed, if the claim is indeed legitimate.
Almost all claims adjusters have a college degree because it showcases a certain level of academic thinking. The major of their degree, however, is not as important. That said, there are certain degrees that are more common for certain areas of insurance. For instance, auto claims adjusters tend to come from a mechanic background; property claims tend to be handled by those with degrees in engineering, architecture, or construction; those who handle financial claims usually have degrees in accounting or finance; those who handle workers’ compensation tend to have a law degree.
Professional training is also provided once someone becomes an insurance adjuster, however. This on the job training is usually the most important element of their education of all. Adjusters will start in a position of apprenticeship or in one where they are otherwise mentored by someone with more seniority. As time goes on, they will work increasingly independently and then start to take on more complex cases as well. Eventually, they themselves will become mentors and trainers for the next generation of adjusters, although this does often take several years.
The role of insurance adjuster is in high demand. In 2006, for instance, the entry level salary for an insurance adjuster was around $50,000, not include benefits and bonuses. Those who work for larger companies and who have more experience can significantly exceed that salary. Naturally, geographical location and the exact company they work for also makes a difference.