Claims
- Entry requirements
- What you might do
- Training and professional qualifications
- Rewards
- Prospects
- Useful links
When something untoward happens - for example a flood, fire, storm damage or a vehicle accident - insurance policy holders have the right to make a claim.
Insurance claims handlers are responsible for investigating incidents and paying claims. They decide the extent and validity of the claim, helping to minimise the impact of loss by arranging for appropriate action to assist the claimant. At the same time they determine a claim's authenticity, keeping an eye out for fraud.
Their work involves co-ordinating the services that may be required by policyholders following an incident, for example contacting builders to repair damage to a factory or an approved mechanic to mend a car or truck. Claims inspectors aim to quantify and settle claims quickly, resolving issues and negotiating settlements with policyholders or legal representatives.
Entry requirements
This area of work is open to all graduates, with preference given to degrees in subjects like business/management, economics, law and mathematics. Some larger insurance companies include claims work as part of general graduate management training schemes.
Some organisations will accept 'A' level or GNVQ holders for trainee positions, with recruits moving directly into claims work after initial training. For these trainees, progression into the role of claims manager normally only takes place after extensive general claims experience (around five to eight years).
What you might do
Claims handlers are typically involved in helping to keep businesses running, for example in the event of fire or storm damage, as well as in the key areas of domestic property, for example fire, burglary, and motor vehicle accidents. Insurance claims inspectors also work in risk management teams to assess workplace accidents, or the incidence of work-related illnesses.
Interpersonal skills are key in this area of work, as during training you are likely to become involved in investigating scenes of accidents, taking statements from other professionals, such as the police and medical and technical staff; investigating liabilities and negotiating with experts such as loss adjusters, solicitors and other legal/claims professionals.
Training and professional qualifications
Graduate recruits usually undergo two years of intense on-the-job training. This in-service training is generally structured and supported by formal training courses, often in-house, and is likely to be followed by a further two to three years' experience in underwriting risk and negotiating claims.
Keeping up with legislation and developments in the field is important, to do this you can choose to study and become a member of the Chartered Insurance Institute (CII) ((link to relevant page of CII site). Qualifications range from an entry-level certificate to Associateship, which usually takes between two and three years and has the status of a first degree.
Individual employers may also provide their own ongoing training courses in areas such as personal safety and communication skills.
Rewards
Depending on where in the UK you start work, your typical starting salary is likely to range from £12,000 - £16,500, rising to £25,000 or more after two or three years' experience. Claims managers with more than 10 years' experience can command between £30,000 and £60,000 per year.
Prospects
With experience and performance, career progression up the management structure is possible, either in claims or in other departments of insurance companies.
Gaining more specialised qualifications - through the Chartered Insurance Institute (CII) and the Chartered Institute of Loss Adjusters (CILA), both of which provide a range of insurance law exams and qualifications - can enable you to focus on particular areas, such as employers' and public liability, construction or business interruption.
Useful links
The Association of British Insurers (ABI)
51 Gresham Street, London EC2V 7HQ
Tel: 020 7600 3333 www.abi.org.uk
Chartered Institute of Loss Adjusters (CILA)
Penninsular House, 36 Monument Street, London EC3R 8LJ
Tel: 020 7337 9960
www.cila.co.uk
Chartered Insurance Institute (CII)
42-48 High Road, South Woodford, London E18 2JP
Tel: 020 8989 8464
www.cii.co.uk
Chartered Insurance Institute (CII) Faculty of Claims
42-48 High Road, South Woodford, London E18 2JP
Tel: 020 8989 8464
www.cii.co.uk/claims
