Breaking Into The World Of Insurance Loss Adjusting: A Guide To Getting Started

A career as an insurance loss adjuster is perfect for someone who enjoys investigative work and talking to people. Loss adjusters are responsible for resolving large, complex or contentious insurance claims on behalf of insurance companies. They are also deemed to be fair and impartial.

Here's how you can become one:

Education

Complete the minimum education requirements. While there is no specific degree or qualification required to become a loss adjuster, degrees or experience in risk management, finance, business, surveying or engineering can strengthen your application. A-levels or their equivalent are the minimum requirements.

Choose your path

There are several types of insurance adjuster positions available. You could be a staff adjuster, working for one insurance firm exclusively, or an independent adjuster, working for several insurance firms as a contractor. You could also be a public adjuster, working on behalf of policyholders.

Register with CILA

The Chartered Institute of Loss Adjusters (CILA) has accreditation for the Chartered Status scheme. You can apply to become an ordinary member if you work at an insurance claims adjustment company. If you are employed by an insurance company, you can apply for student membership.

Get qualified

You can get qualifications on the job through the Chartered Insurance Institute and the Chartered Institute of Loss Adjusters (CILA). The Accreditation for Chartered Status assessment means you can become an Associate member and comprises five years of experience in the field, a 3.5-hour written exam, and a 3,000-word analysis of a claim.

Maintain your licence

The Financial Conduct Authority (FCA) typically authorises all insurance loss adjusters to do business, otherwise, insurance companies may not work with them.

No specific degree is required, but surveying, engineering, risk management or finance degrees are useful

When considering a career as an insurance loss adjuster, it's important to recognize that while no specific degree is mandated, certain educational backgrounds can greatly enhance your skills and employability in this field. Degrees in surveying, engineering, risk management, or finance can provide a strong foundation for the knowledge and abilities required in loss adjusting.

Surveying and engineering degrees offer valuable technical expertise. Loss adjusters often need to assess structural damage, understand building plans, and have a practical understanding of various engineering disciplines. A degree in civil, structural, or mechanical engineering, for instance, can provide a solid base for evaluating property damage, especially in major incidents like natural disasters or industrial accidents.

Risk management and finance degrees are also pertinent to the role of a loss adjuster. These degrees furnish an understanding of risk assessment, financial analysis, and the ability to interpret data, all of which are crucial when evaluating insurance claims. With a risk management background, you can better advise clients on future risk mitigation strategies, and a finance degree aids in the financial aspects of claim settlement.

While not mandatory, professional certifications can also boost your credentials. The Chartered Institute of Loss Adjusters (CILA) offers qualifications that are highly regarded in the industry. Their training covers a broad range of topics, ensuring a comprehensive understanding of the role and responsibilities of a loss adjuster.

Lastly, don't underestimate the value of on-the-job training and mentorship. Many loss adjusters learn the ropes through practical experience, often starting as assistants or trainees and working alongside seasoned adjusters. This hands-on approach ensures you gain the necessary skills and knowledge to handle a diverse range of claims and develop your own style for managing clients and claims efficiently.

Entry-level roles and apprenticeships are available, or you can start in claims handling

While there are several pathways to becoming an insurance loss adjuster, entry-level roles and apprenticeships are indeed available and can be a great way to get started in this career.

Entry-level roles

Entry-level roles are a great way to get your foot in the door in the insurance industry and gain valuable experience. Some firms offer entry-level roles that do not require a degree, providing a pathway for school leavers to begin their careers. These roles typically require GCSEs and/or A-levels (or their equivalent) and can be a great opportunity to learn and develop the skills needed for a career in insurance loss adjusting.

Apprenticeships

Apprenticeships are another excellent option for those interested in becoming insurance loss adjusters. In England, you can pursue a Level 4 insurance professional apprenticeship or a Level 6 senior insurance professional apprenticeship. These apprenticeships offer a combination of workplace learning and study, allowing you to earn a salary while gaining valuable knowledge and skills. To be eligible for these apprenticeships, you'll typically need 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A-levels or their equivalent.

Claims handling

Starting in claims handling is a common way to enter the field of loss adjusting. Many loss adjusters begin their careers in claims handling and then progress to loss adjusting roles. Claims handling provides valuable experience in understanding the insurance claims process, dealing with customers, and gaining an overview of the insurance industry. Some firms offer graduate schemes where new recruits start in claims handling and then move into loss adjusting. This can be a great way to develop the skills and knowledge needed for a successful career in loss adjusting.

Professional qualifications

Once you've secured an entry-level role, apprenticeship, or position in claims handling, you can work towards obtaining professional qualifications. The Chartered Insurance Institute and the Chartered Institute of Loss Adjusters (CILA) offer qualifications ranging from certificates to advanced diplomas. These qualifications provide valuable recognition of your knowledge and skills in the field. To become an Associate member of CILA, you'll need to pass the Accreditation for Chartered Status assessment, which includes a written exam and a critical analysis of a claim, in addition to work experience requirements.

Skills development

In addition to qualifications, developing key skills will be essential for your career as an insurance loss adjuster. Excellent communication and interpersonal skills are crucial, as you'll be liaising with clients, brokers, lawyers, and policyholders. Analytical and problem-solving skills will help you assess claims and make informed decisions. Time management and the ability to work under pressure are also important, as you'll often be handling multiple claims with tight deadlines.

Gain qualifications through the Chartered Insurance Institute and Chartered Institute of Loss Adjusters (CILA)

The Chartered Institute of Loss Adjusters (CILA) is a globally recognised membership organisation for claims professionals. The CILA sets the professional and ethical standards for those who work in the handling of insurance claims and provides an examination structure that enables members to attain the highest professional qualifications in claims handling.

CILA exams are open to anyone, regardless of prior knowledge and experience. The CILA provides qualifications at Certificate, Diploma, and Advanced Diploma levels. To become an Associate member, which allows you to use the title "Chartered Loss Adjuster", you must pass the Accreditation for Chartered Status (ACS) assessment process. The ACS involves taking a three-and-a-half-hour written exam and submitting a 3,000-word critical analysis of a claim. You will also need to demonstrate at least five years of relevant work experience.

The CILA provides its members with continuous professional development (CPD) and networking opportunities. It also offers Special Interest Groups, which allow members to connect with others practising in 11 specialist claims areas.

In addition to qualifications through the CILA, individuals in England can gain entry into the field of loss adjusting through Level 4 insurance professional or Level 6 senior insurance professional apprenticeships. These apprenticeships provide a combination of workplace learning and study, allowing individuals to earn a salary while learning.

Register with the CILA and gain Chartered Status

The Chartered Institute of Loss Adjusters (CILA) is a professional body that offers qualifications and memberships to support individuals in their careers in loss adjusting and the wider insurance industry.

CILA offers several types of memberships catering to different career stages and backgrounds. For instance, an Ordinary Membership is suitable for individuals working within a loss adjusting practice, firm, or company. This membership provides immediate access to CILA examinations, the CILA library, technical papers, newsletters, and other benefits. On the other hand, a Student Membership is designed for those who do not currently work in a loss adjusting firm but are interested in pursuing a career in claims. Student Members enjoy the same benefits as Ordinary Members but are required to attempt a CILA examination within two years of joining to maintain their membership status.

Completing CILA qualifications can lead to elevated membership statuses, such as Cert-CILA or Dip-CILA, depending on the completed level. For example, attaining the CILA Certificate in Insurance Claims Handling provides a foundation in claims handling and allows progression to the CILA Diploma examinations. The certificate qualification requires passing multiple-choice exams covering topics like the introduction to the insurance industry, claims handling, and handling claims for specific losses.

Achieving Chartered Status with CILA brings additional privileges and recognition. Members who complete the ACS qualification and gain sufficient industry experience can attain the ACILA designation, becoming voting members of the Institute. CILA also offers the opportunity to become a Certified Member (MCILA) or a Fellow, recognising members' expertise and contributions to the field of loss adjusting.

By registering with CILA and pursuing Chartered Status, individuals can benefit from industry-recognised qualifications, career development opportunities, and enhanced employability in the insurance and loss adjusting sectors.

Maintain your licence with the Financial Conduct Authority (FCA)

The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom that operates independently of the UK government. It regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the UK. The FCA has three main objectives: protecting consumers, protecting and enhancing the integrity of the UK financial system, and promoting healthy competition between financial services providers in the interests of consumers.

To maintain your licence with the FCA, you must meet certain threshold conditions. These include having appropriate resources, such as sufficient financial and non-financial resources like systems, controls, plans, and human resources. You must also demonstrate effective supervision, which means showing that your firm is capable of being effectively supervised by the FCA. This includes providing adequate information to the FCA and ensuring that your firm's head office and management are based in the UK.

In addition to meeting the threshold conditions, there are ongoing requirements to maintain your FCA licence. You must pay a yearly fee and meet a set of minimum standards set by the FCA. This includes adhering to the FCA's rules and guidance, as well as any rules introduced in the future. The FCA has the power to enforce its mandate and can place requirements on firms, modify permissions, or even cancel authorisations if standards are not met.

It is important to stay up to date with any changes in regulations and requirements to ensure that you maintain your FCA licence and avoid any penalties or negative consequences.

Frequently asked questions