This is a guest post from our friend Chris at IAPath. We first saw this on his blog and thought it was important information to share with our readers. Enjoy!
Recently, I’ve gotten quite a few text messages from independent adjusters and other claims-related professionals asking, in a panic, “Are IA’s going away? Will I be able to find work? What is going on?! What is the future of independent insurance adjusters?!”
I wanted to address the topic, the current employment situation, and what you can do to best set yourself up for success, no matter what tomorrow brings.
This all came to a head when one of the biggest insurance carriers in the U.S., let’s call them Top Insurance, recently indicated that they won’t be using independent adjusters moving forward. To be clear, I don’t work for Top Insurance. I am certainly not in their boardroom or a part of their executive meetings, but it is clear they are lowering their dependency on independent adjusters.
Couple that with the rumor that they are hiring and yes, it would appear that Top Insurance is hoping to move forward keeping things in-house.
First things first: This is the 4th time in my thirteen years in the industry that I’ve seen Top Insurance make a switch like this. While the fluctuation or change in tactics can sound scary, rest assured: it’s normal, healthy, and not the first time.
Top Insurance is doing whatever is best for Top Insurance. Most large corporations do. My advice to you is that you should do the same.
Industry Changes
Insurance claims is a steady business. Claims happen year-round, in every location, regardless of the economy or budgets or forecasts. However, the ways in which carriers deal with claims can fluctuate depending on a lot of different factors.
For the past few years, Top Insurance has employed a large number of IA’s with desk work. Many of those positions were entry-level IA opportunities, which was great for those looking to break into independent adjusting. New adjusters gained experience and were often able to grow their salary while learning valuable skills.
On the flip side, these positions can be a grind. Long hours, six days a week, mostly sitting at a desk. It wasn’t what a lot of independent adjusters envisioned when they joined the industry and certainly not what they were hoping for long-term.
Top Insurance lowering their dependency on independent adjusting firms and their contractors will have an effect on the industry and the employment landscape. The companies that built their business on mostly Top Insurance contracts will struggle the most. But that doesn’t mean you, as an independent adjuster, have to struggle as well.
Surviving the Shift
Just to reiterate, I’ve seen shifts like these before. The relationship between carriers and IA firms will continue to change and evolve based on current industry needs. So how, as an insurance adjuster, can you best navigate these shifts?
Diversify your skill set!
In other words, learn how to handle different types of claims in a wide variety of states.
Excel at handling FIELD and DESK claims
Top Insurance didn’t use independent adjusters for most of their field work. They have an in-house team to handle those. But that does mean that Top’s desk jobs will become much more sought-after. If you can handle both types of claims, you’ll be a much more attractive candidate for both staff and independent jobs.
Learn to handle multiple types of claims
If you know how to do property claims, learn how to handle auto claims. If you know auto, learn heavy equipment or property claims. When a company or firm can assign you whatever type of claim comes in, you become incredibly valuable.
Be flexible
Only focusing on one type of work, or refusing to assist with anything that isn’t your ‘preferred’ contract, is the fastest way to work yourself out of a job. If you are used to getting deployments, focus on breaking into daily. If you are used to getting daily claims, you probably aren’t as affected by this shift, but explore the idea of deployments this upcoming cat season.
Whether you are an independent or a staff adjuster, being versatile enough to handle anything thrown your way establishes trust with your employer. And being trusted is the key to surviving in this industry.
Independent adjusters will continue to be needed. But I recommend learning how to handle different types of claims and diversifying your skill set so that you are prepared today, and in the future, for whatever changes come our way.
AdjusterPro has insurance adjuster licensing courses for every state, as well as courses to help you elevate and expand your skills.
- State Licensing Courses
- Xactimate
- Customer Service
- Career Success Course
- California and New York Licensing Courses (These states do not offer reciprocal licenses – you must pass the states’ exams to adjust claims.)
If you need help diversifying your skill set, IA Path can help. Mentorships are available for:
- Level 1: Auto Collision Damage CCC One Software (Daily Auto Field Claims)
- Level 2: Auto Flood & Hail Damage (Catastrophic Auto Field & Desk Claims)
- Level 3: Heavy Equipment, RV, & Semi Trucks
