Ward Group conducted a study to examine the hiring practices for insurance claims adjusters and provide valuable information to assist in this area. The data for the Claims Adjusters Hiring Practices survey was collected in the fourth quarter of 2014 and augmented with publicly available data. This report represents the findings of that survey.
The objectives of the study were as follows:
- Compare the preferred experience of new adjuster hires to that of those actually hired.
- Capture metrics with regards to turnover and average time to fill an open position by adjuster role.
- Analyze new hire starting salaries and other compensation trends.
- Compare benefit offerings available to new employees.
Table of Contents
- Benchmark Groups
- Profile of Participants
- New Hire Experience
- Open Positions
- Internship Programs
- Starting Compensation
- Claims Hiring Challenges
Appendix: Detailed Study Results
Profile of Participants
A diverse group of 50 property-casualty companies participated in the survey. In order to maintain the confidentiality of the data, the names of the participants have not been disclosed. To further analyze the responses, participants were segmented into various benchmark groups to provide meaningful comparisons. The following briefly summarizes the primary benchmark groups used for the study:
Overall Benchmark: Comprised of all participating insurance companies. The average premium volume for this group was $476M.
Personal Lines Focused Benchmark: Comprised of 25 companies with 50% or more of their premium identified as personal lines. The average premium for this benchmark was $460M.
Commercial Lines Focused Benchmark: Comprised of 25 companies with 50% or more of their premium identified as commercial lines. The average premium for this benchmark was $492M.
Small Company Benchmark: Comprised of 34 companies with 2013 premiums written of less than $500M. The average premium volume for this group was $191M.
Large Company Benchmark: Comprised of 16 companies with 2013 premiums written of greater than $500M. The average premium volume for this group was $1,081M.