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Job description: Settlements
As an insurance claims settler or manager, you will oversee customers' insurance claims, and try to resolve them quickly and efficiently.
There are different types of claims, including:
- third party liability - covers damage or injury suffered by someone as a result of the insured person's actions, eg a car accident
- employee liability - if an employee is injured at work
- professional indemnity - if someone has provided inaccurate advice, eg a solicitor or financial adviser
- complex property claims - eg quantifying loss of stock and business after a major incident like a flood
- product claims - eg claims against unsafe toys or faulty electrical goods.
You are likely to specialise in one area of insurance, such as home, motor, pet, travel or life insurance. Settlers also tend to deal with relatively straightforward claims, with more complex claims left to managers.
Generally, your work will involve:
- Logging insurance claims
- Issuing claim forms
- Checking the details
- Checking that the premiums have been paid and the policy covers the claim
- Gathering information such as receipts or photographs
- Telling customers if the terms and conditions of their policy are affected, and how much of the cost they need to pay.
- Arranging for approved tradespeople to help customers straight away, say by arranging for repairs to their home.
As a manager, you'll also be responsible for a team of claims settlers. You'll schedule work and make sure claims are dealt with efficiently and effectively. You'll also liaise with brokers and loss adjusters, and organisations such as the Financial Ombudsman or Association of British Insurers (ABI).
Hours and Environment
Usually, you'll work around 35 hours a week, Monday to Friday. You may work in a contact centre, with shift and weekend work. Most insurers also operate a 24 hour service, where you'll deal with emergency claims.
You can work part-time.Your work is office-based and you'll spend much of your time on the phone or using email and messaging services.
As a claims manager or experienced settler, you may need to visit brokers, solicitors and clients throughout the UK and even overseas.
Skills and Interests
As a claims settler or manager, you should be:
- Outstanding at customer service
- Able to empathise and deal with clients
- Calm but assertive
- A good administrator
- Knowledgeable about insurance and claims
- Good at detail
- Efficient and able to work under pressure
- Good with computers.
Entry
You can join insurance companies or brokers as a settler straight from school or college, or enrol on an apprenticeship scheme. Most companies require at least four GCSEs/S grades (A-C/1-3), including English and maths, plus good ICT skills.
Apprenticeships may be available in England - visit www.apprenticeships.org.uk for details. There are different arrangements for Apprenticeships in Scotland, Wales and Northern Ireland. For further information contact Careers Scotland www.careers-scotland.org.uk, Careers Wales www.careerswales.com; and for Northern Ireland contact COIU www.delni.gov.uk.
Claims managers normally start as claims settlers. You'll need at least three years' claims experience, along with supervisory experience and team leadership.
A degree can be useful, but is not always necessary. Some insurance companies have graduate training schemes, which can lead to claims management positions. Useful degree subjects include business studies, finance, law, economics, insurance and mathematics.
If you're a mature entrant with relevant experience and qualifications, you can move directly into claims management as employers value life experience. You may also be waived entry qualifications for the Chartered Insurance Institute (CII) Associateship exams.
Training
Training is usually on the job in a particular insurance sector, eg motor insurance, and you'll be supervised by an experienced claims manager. Large employers generally provide structured training programmes covering insurance, information technology, customer care and communication skills.
Increasingly, you'll need a relevant qualification from the CII. Claims settlers need either the CII Certificate or CII Diploma in claims. Further study for the CII Advanced Diploma can lead to becoming an Associate (ACII).
The CII courses are designed to provide a recognised qualification, studying material most applicable to your individual job. Depending on your qualifications, you can start at various points and study through day release, evening classes or distance learning.
Alternatively, you may complete The Institute of Financial Services (ifs) Certificate of Regulated General Insurance. Although not specifically focused on claims, this course offers a broad training in insurance and can improve your promotion prospects.
Vocational qualifications are also available, including NVQs/SVQs Levels 2, 3 and 4 in Customer Service and Levels 3 and 4 in Management.
Opportunities
The number of insurance claims has grown in recent years, resulting in greater demand for qualified claims settlers and managers.
You’ll normally work for insurance companies or insurance brokers. Insurance companies vary widely in size and location, but are usually in major towns and cities, with regional call centres spread throughout the country.
You can progress by taking on extra responsibility, then being promoted to team leader or supervisor and claims manager.
If you take the relevant professional exams, you may be able to move into related areas, such as loss adjusting, insurance broking or sales.
Self-employment opportunities are rare.
Annual Income
Figures are a guideline only.
- Starting salaries range from £11,000 to £15,000, or £16,000 to £19,000 for graduate trainees.
- Experienced claims settlers may earn around £18,000 to £24,000.
- Claims managers may earn from £30,000 to £40,000 or more.
Salaries in London may be significantly higher. Benefits can include private medical insurance, life insurance and discounted insurance premiums.
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