Career and Education Opportunities for Insurance Adjusters in Waco, Texas
Insurance adjusters can find both educational opportunities and jobs in the Waco, Texas area. Currently, 18,770 people work as insurance adjusters in Texas. This is expected to grow 18% to 22,060 people by 2016. This is better than the nation as a whole, where employment opportunities for insurance adjusters are expected to grow by about 7.1%. Insurance adjusters generally 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 about $26 per hour or $54,760 yearly on average in Texas and about $26 hourly or $55,760 per year on average nationally. Incomes for insurance adjusters are better than in the overall category of Adjustment and Analysis in Texas, and better than the overall Adjustment and Analysis category nationally. Insurance adjusters work in a variety of jobs, including: claims examiner, examiner, and building appraiser.
There is one school within twenty-five miles of Waco where you can study to be an insurance adjuster, among seven schools of higher education total in the Waco area. Insurance adjusters usually hold a Bachelor's degree, so it will take about four years to learn to be an insurance adjuster if you already have a high school diploma.
CAREER DESCRIPTION: Insurance Adjuster
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 Waco 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
Baylor University - Waco, TX
Baylor University, 500 Speight Ave., Waco, TX 76798. Baylor University is a large university located in Waco, Texas. It is a private not-for-profit school with primarily 4-year or above programs. It has 14,541 students and an admission rate of 51%. Baylor University has a bachelor's degree program in Insurance which graduated two students in 2008.
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.
Licensing agency: Texas Department of Insurance License Division
Address: PO Box 149104, Austin, TX 78714-9104
Phone: (512) 322-3503
Website: Texas Department of Insurance License Division
LOCATION INFORMATION: Waco, Texas
Waco is situated in Mclennan County, Texas. It has a population of over 124,009, which has grown by 9.0% over the last ten years. The cost of living index in Waco, 82, is well below the national average. New single-family homes in Waco are valued at $144,900 on average, which is well below the state average. In 2008, three hundred eighty-eight new homes were built in Waco, down from five hundred fifty the previous year.
The top three industries for women in Waco are educational services, health care, and accommodation and food services. For men, it is construction, educational services, and accommodation and food services. The average commute to work is about 18 minutes. More than 18.6% of Waco residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 7.4%, is higher than the state average.
The unemployment rate in Waco is 7.4%, which is less than Texas's average of 8.1%.
The percentage of Waco residents that are affiliated with a religious congregation, 60.5%, is more than both the national and state average. El Calvario Presbyterian Church, Abundant New Life Assembly of God Church and Adams Chapel African Methodist Episcopal Church are among the churches located in Waco. The most prominent religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.
Waco is home to the Helen Marie Taylor Museum and the Potts Interchange as well as Heart O Texas Coliseum and Kathy Ball Park. Shopping malls in the area include Lake Air Shopping Center and Richland Shopping Center. Visitors to Waco can choose from Budget Inn, America's Best Inns and Best Western Old Main Lodge for temporary stays in the area.