What are the Types of Insurance Adjuster Licenses? 

An insurance adjuster evaluates an insurance claim to determine the liability of company under the terms of an owner’s policy. Those who wants to become an insurance adjuster should complete licensing exam and course. Also, they must maintain their license status with continuing education courses such as AAI designation. Hence, the types of insurance adjuster licenses are: insurer adjusters, public adjusters, and independent insurers.  

An insurance adjuster may represent the insurance carrier or hired by the claimant, or work independently. They have to work directly for insurance carriers and carry out numerous functions. These functions include investigating claims, interviewing the claimant, damage repair estimation, consulting police and hospital records, et cetera. Hence, when clients find an agent and get an insurance, the work of an adjuster begins when clients file a claim. 

types of insurance adjuster licenses

Types of Insurance Adjusters Licenses 

The three types of insurance adjuster licenses you can apply for are as follows: 

  • Independent Adjusters: Just like an independent agent, they either work on a freelance basis or contract basis. Usually, insurance companies hire them if the company doesn’t have an independent insurance agency or adjuster nearby. In addition, if there are too many claims to handle or in case of natural disasters.  
  • Public adjusters: They are hired by the claimant. Generally, they help the claimants get the highest possible settlement from the insurance company. Furthermore, a public adjuster usually represents the claimant and not the insurance company. They are used in case of high dollar amounts involved. Hence, they earn through certain percent of claim amount as commission.  
  • Insurer Adjusters or Staff Adjusters: Similar to captive agents, insurer adjusters work directly for the insurance company. They have to clear claims without spending undue amounts of the company’s money or withholding certain amount from claimant. They are clearer about insurance claim process of the insurance company. 

 

Conclusion 

There are many insurance careers in the industry to choose from, and one of them is insurance adjusters. As an insurance adjuster, it is important to improve your skills every day. If you want to start out and want to know what is insurance broker then read this blog. It also has clear instructions on how to start an insurance agency. Insurance technology companies have a revolutionary working environment. Hence, a change in your environment can also help you take you to new heights. 

aai designation
aai designation