Associate In Claims (AIC) Designation Recommended For Work Comp Adjusters
The Associate in Claims Designation (AIC) is highly recommended for quite a few old and new reasons. One of the areas to consider is advances in technology.
Technological Advancement
The level of technology in claims adjusting will likely advance very quickly over the next few years. Work Comp adjusters may possibly be replaced by new technology that would set reserves, process medical bills, etc. The word analytics shows up every day in the WC press. If your competitor is a software program, the analytics cannot replace an experienced adjuster who has been exposed to more Property and Casualty lines than just Workers Compensation.
ThE AIC designation teaches much more than just WC. Subrogation is one of the key areas where adjusters who are very specialized need to understand the claim processes beyond processing a WC claim.
Job Market Tightening
Even though the outlook is fair to good for adjusters, the insurance process lags behind approximately two to three years. The new administration may spike job growth. However, the employers have to first hire and then train employees. The job market for WC adjusters will likely become worse before it improves in 3 – 5 years.
Basic Competitive Forces
If an adjuster is up for an advancement to a Senior Adjuster or Supervisory position, there will likely be a high level of competition. If you have an Associate in Claims designation, it shows that you are dedicated to the profession and wish to stay in the insurance arena, if not in claims, for the future. Anything that will put you ahead of the competition is great.
Insurance companies will very likely look to the general job market. There are no guarantees of internal promotions. Promotions may come from outside the carrier or TPA.
Subrogation
This area should be covered again even though it was mentioned earlier. Subrogation can be a tough area for a Workers Comp specialist. Even a one day training class may not make an adjuster proficient in subrogation. One adjuster recently remarked that his company had a subrogation unit so he did not worry about the subject.
My response was – How do you know what files to send to the subro unit?
The AIC lends itself to giving the adjuster enough exposure to at least keeping an eye on any type of claims where a third party is responsible. If you, as an adjuster, can recover subrogation funds, then you have become indispensable to your organization.
Subrogation funds can be left on the table, so to speak, if you are not pursuing a third party that is at least partially responsible for the occurrence of an incident.
Final Word
There are no final words with me (inside joke). The highlights of an AIC will be covered tomorrow – even how to make it much easier and less time consuming to obtain your Associate in Claims.
Also Read: What Is A Guaranteed Cost Program In Workers Compensation?
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