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Career and Education Opportunities for Insurance Adjusters in Lexington-Fayette, Kentucky

Insurance adjusters can find many career and educational opportunities in the Lexington-Fayette, Kentucky area. About 2,870 people are currently employed as insurance adjusters in Kentucky. By 2016, this is expected to grow 15% to 3,290 people employed. This is better than the national trend for insurance adjusters, which sees this job pool growing by about 7.1% over the next eight years. In general, insurance adjusters investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants.

Insurance adjusters earn approximately $24 hourly or $51,490 annually on average in Kentucky. Nationally they average about $26 per hour or $55,760 annually. Incomes for insurance adjusters are better than in the overall category of Adjustment and Analysis in Kentucky, and better than the overall Adjustment and Analysis category nationally. Insurance adjusters work in a variety of jobs, including: claim investigator, medical claims specialist, and health claims examiner.

There are twenty-two schools of higher education in the Lexington-Fayette area, including one within twenty-five miles of Lexington-Fayette where you can get a degree to start your career as an insurance adjuster. Given that the most common education level for insurance adjusters is a Bachelor's degree, you can expect to spend about four years studying to be an insurance adjuster if you already have a high school diploma.

CAREER DESCRIPTION: Insurance Adjuster

Insurance Adjuster video from the State of New Jersey Dept. of Labor and Workforce Development

In general, insurance adjusters investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants. They also correspond with or interview medical specialists, agents, or claimants to compile information.

Insurance adjusters inspect police reports, medical treatment records or physical property damage to establish the extent of liability. They also examine claims forms and other records to establish insurance coverage. Equally important, insurance adjusters have to interview or correspond with claimants or other relevant parties to establish claim settlements or review. They are often called upon to ready reports of findings of investigations. They are expected to interview or correspond with agents and claimants to fix errors or omissions and to investigate questionable claims. Finally, insurance adjusters negotiate claim settlements and recommend litigation when settlement cannot be negotiated.

Every day, insurance adjusters are expected to be able to see details at a very fine level of focus. They need to listen to and understand others in meetings. It is also important that they read and understand documents and reports.

It is important for insurance adjusters to collect evidence to support contested claims in court. They are often called upon to investigate and assess damage to property and develop or review property damage estimates. Somewhat less frequently, insurance adjusters are also expected to communicate with former associates to confirm employment record and to obtain background data regarding persons or businesses applying for credit.

Insurance adjusters sometimes are asked to negotiate claim settlements and recommend litigation when settlement cannot be negotiated. and examine titles to property to establish validity and act as company agent in transactions with property owners. And finally, they sometimes have to inspect police reports, medical treatment records or physical property damage to establish the extent of liability.

Like many other jobs, insurance adjusters must be thorough and dependable and be reliable.

Similar jobs with educational opportunities in Lexington-Fayette include:

  • Business Management Analyst. Conduct organizational studies and evaluations, design systems and procedures, conduct work simplifications and measurement studies, and prepare operations and procedures manuals to assist management in operating more efficiently and effectively. Includes program analysts and management consultants.
  • Compensation / Benefits Specialist. Conduct programs of compensation and benefits and job analysis for employer. May specialize in specific areas.
  • Coroner. Direct activities such as autopsies, pathological and toxicological analyses, and inquests relating to the investigation of deaths occurring within a legal jurisdiction to determine cause of death or to fix responsibility for accidental, violent, or unexplained deaths.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Emergency Management Coordinator. Coordinate disaster response or crisis management activities, provide disaster preparedness training, and prepare emergency plans and procedures for natural, wartime, or technological disasters or hostage situations.
  • Employment Coordinator. Interview job applicants and refer them to prospective employers for consideration. Search application files, notify selected applicants of job openings, and refer qualified applicants to prospective employers. Contact employers to verify referral results. Record and evaluate various pertinent data.
  • Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Insurance Adjuster Training

Eastern Kentucky University - Richmond, KY

Eastern Kentucky University, 521 Lancaster Ave, Richmond, KY 40475-3102. Eastern Kentucky University is a large university located in Richmond, Kentucky. It is a public school with primarily 4-year or above programs. It has 16,050 students and an admission rate of 69%. Eastern Kentucky University has a bachelor's degree program in Insurance which graduated eight students in 2008.

CERTIFICATIONS

Associate in Insurance Services: The Associate in Insurance Services program is a nationally recognized educational program designed specifically for insurance personnel.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Certified Fraud Examiner: The ACFE established and administers the Certified Fraud Examiner (CFE) designation.

For more information, see the Association of Certified Fraud Examiners website.

Certified Forensic Interviewer: The objective of this certification program is to create comprehensive, universally accepted professional standards combined with an objective measure of an interviewer's knowledge of those standards.

For more information, see the Center for Interviewer Standards and Assessment Ltd. website.

Accredited Insurance Examiner: An Accredited Insurance Examiner (AIE) is awarded to insurance regulatory professionals who have been extensively trained in one of two primary fields of insurance regulation, Property and Casualty or Life and Health.

For more information, see the Insurance Regulatory Examiners Society website.

Accredited Marine Surveyor : Our Accredited Marine Surveyor® (AMS®) members must have a minimum of 5 years experience and must pass a written examination by our testing committee in order to earn his or her AMS® credential.

For more information, see the Society of Accredited Marine Surveyors website.

LICENSES

Insurance Adjuster/Apprentice Adjuster

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

Insurance Administrator (TPA)

Licensing agency: Kentucky Office of Insurance
Address: Agent Licensing Division, 215 West Main, P.O. Box 517, Frankfort, KY 40602

Phone: (502) 564-6004
Website: Kentucky Office of Insurance Agent Licensing Division

LOCATION INFORMATION: Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky
Lexington-Fayette, Kentucky photo by Jonesey

Lexington-Fayette is located in Fayette County, Kentucky. It has a population of over 282,114, which has grown by 8.3% over the last ten years. The cost of living index in Lexington-Fayette, 84, is well below the national average. New single-family homes in Lexington-Fayette are valued at $167,600 on average, which is well above the state average. In 2008, seven hundred seventy-one new homes were built in Lexington-Fayette, down from 1,227 the previous year.

The three big industries for women in Lexington-Fayette are health care, educational services, and accommodation and food services. For men, it is educational services, construction, and accommodation and food services. The average travel time to work is about 19 minutes. More than 35.6% of Lexington-Fayette residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 14.5%, is higher than the state average.

The percentage of Lexington-Fayette residents that are affiliated with a religious congregation, 47.3%, is less than both the national and state average. Victory Baptist Church, Aldersgate Church and Trinity Hill United Methodist Church are all churches located in Lexington-Fayette. The largest religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Lexington-Fayette is home to the Tates Creek Country Club and the Home of Henry Clay as well as Kentucky State Horse Park and Duncan Park. Shopping centers in the area include Fayette Mall, Turfland Mall and Lexington Mall.