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Why It Is Important to Have Independent Claims Adjusters

Independent claims adjusters have a unique and important role in the insurance industry. While some claims adjusters are employed directly by insurance companies, independent adjusters are contractors who may work for more than one company or agency. Both types of adjusters play important parts in keeping the insurance industry efficient and effective for their clients. However, independent adjusters have some special attributes and responsibilities that make  indispensable to both employers and insurance customers.

Disaster Response

Independent claims adjusters are often the first to respond to insurance customers in a crisis. Because they are independent contractors, insurance companies call on them when there is a higher volume of claims due to some kind of disaster. Common examples of this are hurricanes, tornadoes, earthquakes, and wildfires. 

While they are not first responders in the same sense as police, firefighters, emergency medical staff, they are often the first to start the rebuilding process. Starting an insurance claim is the first step for families and businesses to get back to normal. Because of the availability of independent claims adjusters, there are enough resources to go around after these events. This ensures that families and business owners aren’t waiting weeks or months to get the help they need.

Insurance Industry Impact

There are two main ways that an insurance adjuster makes a living. They are either a staff or company adjuster or an independent adjuster. Staff adjusters are directly employed by insurance companies or agencies. They have a fairly regular work schedule, benefits, and often slightly lower pay. Independent claims adjusters are independent contractors and function more like a small business than an employee. They are responsible for their own taxes, expenses, and overhead.

There is no way to overstate how beneficial this is to the insurance industry. If it were not for independent claims adjusters, insurance companies would have to employ a full time staff of adjusters to ensure they have enough to respond to disasters when they arise. This would leave lots of them with not much to do when there are no disasters that need a response. Additionally, this would have an astronomical cost and cause insurance premiums to skyrocket.

Economic Impact

Independent claims adjusters have a major impact on our nation’s economy. Since they do operate as contractors, they contribute to our small business community and entrepreneurial spirit. Additionally, because of their higher than average income, they are also more likely to contribute to spending in their communities. They buy homes and vehicles and may also rent office or coworking spaces. They are also more likely to have disposable income, and since they have so much time off, they contribute a lot to tourism.

Make Your Mark With 2021 Training

Independent Insurance Adjusters make a major impact on the world with their work. They respond with compassion and care after disasters to make sure people are taken care of. They process claims efficiently and effectively to help people get back on their feet. Furthermore, they play an integral part in our overall economic well being as a country. If you’re ready to start making a difference as an insurance adjuster, click here to start your training today!


Independent Adjusters to Process Disaster Claims

Insurance Companies Will Always Depend on Independent Adjusters to Process Disaster Claims

Each year, countries across the world spend billions of dollars trying to fight natural disasters and repairing the subsequent damage. Insurance companies pay for many of these repairs because their policies cover homes, businesses, schools, hospitals, and more. Natural disasters will always occur and independent insurance adjusters will always be needed to help process claims.

Texas Disaster Claims

Texas is known for frequent tornadoes, floods, hail, severe weather, and natural disasters that often strike when we least expect them. When this happens insurance companies rely on independent insurance adjusters to process claims quickly. Then they can pay policyholders, and they can begin the process of rebuilding. 

As an independent insurance adjuster, you will assess damages and claims. You will decide how much the insurance company will cover, and hopefully offer people a chance to rebuild what they’ve lost. The insurance industry is a valuable asset for the economy. It helps soothe the worry of unexpected disasters and aids people’s protection. While it is impossible to determine when a natural disaster will occur, there are still predictions we can make based on previous years and currently observable data.

Disaster Claims in Previous Years

If we take a look at the last few years, the number of disaster claims is enormous. In 2020, natural disasters cost the world $210 billion. The biggest losses were recorded by the U.S. and China, as both had to battle floods, hurricanes, and wildfires. 

In the U.S. alone, the damages amounted to $95 billion in 2020. The year before had almost half, and in 2019, the losses were $51 billion. To get a better perspective, 2020 recorded a higher loss compared to 2019, which had economic losses of $166 billion. So, 2020 saw a 26.5% increase in damages. However, we can notice that the number decreases as we go further back. 

The main takeaway here is that disaster claims are significantly increasing due to the rising number of natural catastrophes. Today, more than ever, people are trying to equip themselves for future misfortunes by working alongside insurance companies. 

Recent Natural Disasters

We are almost halfway into 2021, and we have already experienced a number of natural disasters. Texas experienced Winter Storm Uri in February, a major ice storm that left many without heat, electricity, and water for days. Heavy rain and flooding occurred in Louisiana, Arkansas, and Texas, and many regions declared a state of emergency. Furthermore, a volcanic eruption in DR Congo forced thousands of people to flee from the region, and the damage caused by the volcano is still to be calculated. 

At the same time, the Coronavirus pandemic is still active in all countries across the globe, and even with all the vaccination campaigns, it is still affecting the economy. The total number of cases passed 169 million.

2021 Training Will Prepare You to Help Others Through Disasters

Natural disasters and severe weather sometimes seem never-ending. Climate change will continue to be an issue in the coming years, and flooding will remain one of the major disasters that people will have to face. If you want to help people get through these disasters and recover from their losses, becoming an independent insurance adjuster is a great career choice. 2021 Training offers excellent online courses to get your license in just a few days. Get in touch with us today, to learn about the different packages we offer!

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