Gordon Vater, managing director at Gallagher Bassett Technical, shares insights on how claims professionals can contribute unique levels of understanding and experience to the field of loss adjusting
Effective loss adjusting does not happen by chance. From cutting edge technology to the specialised skills of those guiding the process, a range of factors must combine to create an environment for success.
Loss adjusters are among the most highly qualified claims experts. Skills can range from high levels of building knowledge, financial accountancy, special investigation and many other specialist experiences such as construction and engineering.
Loss adjusters bring a wealth of expertise to complex situations, simplifying matters for clients and their customers. However, their true core competency lies in their ability to empathise and establish trust quickly with all stakeholders involved.
Chartered loss adjusting businesses showcase that the behavioural drivers, balanced with the right technical skills and real-world experience, delivers superior outcomes for insurers, underwriters, brokers and, most importantly, for the customer.
This extends to hands-on experience in several sectors, which is invaluable for navigating insurance claims. Loss adjusters need to approach each claim with a nuanced understanding of the ‘real world’ as it inevitably leads to a faster claims process and more accurate assessments.
Blending insights
Like most fields, loss adjusting is reaping the benefits of technological advancements.
Drones are significantly expanding the industry’s scope of possibilities by using sophisticated video technology to facilitate remote, unobtrusive site visits.
Traditional site visits remain essential, but using this new technology is ensuring optimal resource deployment when needed and empowering immediate and well informed decision making.
Such advancements are streamlining the loss adjusting process – however, the human element remains indispensable for navigating larger and more complex claims.
Intuition and empathy are essential attributes for any loss adjuster and the process is at its most efficient and accurate when technology and human expertise work in tandem.
Outsourcing benefits
Outsourcing loss adjusting is a proven strategy for many insurers, but it delivers far greater benefits than mere access to cutting edge technologies.
While partnering with a claims and risk management provider allows the use of advanced tools, it also equips insurers with expert insights to navigate adjusting and foster a collaborative relationship between technology and human experience.
It is all about ensuring a comprehensive and nuanced approach to loss adjusting that ultimately results in more effective and empathetic resolutions for insurers and their policyholders.
