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Insurance Loss Adjuster

Kaiwhakatika Makeretanga Rīanga

Insurance loss adjusters investigate and calculate insurance claims.

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Secondary education

There are no specific secondary education requirements to become an insurance loss adjuster. However, English, maths and business studies are useful.

Study fields

Study levels

  • Diploma
  • Up to NCEA Level 3
  • Certificate

Useful experience

Useful experience for insurance loss adjusters includes:

  • work in another insurance area such as claims
  • trade experience or work in the construction industry.

What you will do

Insurance loss adjusters may do some or all of the following:

  • inspect damage to property, vehicles or equipment 
  • determine the cause of damage
  • assess what the insurance policy covers
  • estimate the cost of repair or replacement
  • negotiate with the claimant on what to do
  • authorise payments for claims
  • organise and supervise repairs
  • negotiate between claimants and insurance companies
  • write claim reports.

Skills and knowledge

Insurance loss adjusters need to have knowledge of:

  • their area of insurance specialisation
  • insurance policies, including what each policy covers
  • trade or the construction industry
  • health and safety requirements
  • relevant laws such as the Insurance Law Reform Acts.
Pay

Insurance loss adjusters usually earn

$56K-$88K

per year

Senior or specialist loss adjusters usually earn

$80K-$143K

per year

Job opportunities
Average
Chances of getting a job as an insurance loss adjuster are average for those wanting to enter the role, but good for those with experience.
Length of training
0-3
years of training usually required.

Industry

Finance

Insurance loss adjusters investigate and calculate insurance claims.

Similar jobs in this industry

Entry requirements

There are no specific requirements to become an insurance loss adjuster. However, qualifications in construction, business or science may be useful.

Most insurance loss adjusters complete further training to become chartered loss adjusters. To become a chartered loss adjuster you must:

Chances of getting a job

Demand highest for property loss adjusters

Property loss adjusters are in demand due to:

  • a strong residential construction industry
  • an increase in the commercial property market
  • New Zealand being prone to heavy storms and bad weather, which increase the likelihood of property damage and insurance claims.

Most insurance loss adjusters work for insurance firms

Insurance loss adjusters may work as employees or contractors for insurance companies or insurance loss adjusting firms.

According to the Census, 1,581 insurance loss adjusters worked in New Zealand in 2018.

Find out more about training

Australasian Institute of Chartered Loss Adjusters (AICLA)
+61 7 3229 6663 - adminoffice@aicla.org - www.aicla.org
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF)
0800 103 675 - customerservice@anziif.com - www.anziif.com

Progression and specialisations

Insurance loss adjusters may specialise in:

  • aviation and marine insurance
  • commercial and residential property
  • natural disasters
  • engineering
  • rural and forestry
  • liability
  • food manufacturing
  • film and media.

Working conditions

Insurance loss adjusters:

  • usually work regular business hours
  • work in offices, but may travel to inspect claims and meet clients.

Physical Requirements

Insurance loss adjusters need to be reasonably fit and healthy as they may have to be physically active when inspecting property damage.

Useful personal qualities

Insurance loss adjusters need to be:

  • able to make good judgements
  • accurate with an eye for detail
  • inquisitive and analytical with good problem-solving skills
  • good communicators
  • well organised.

Related Wintec courses

Industry

Finance

Insurance loss adjusters investigate and calculate insurance claims.

Similar jobs in this industry

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