Insurance Loss Adjuster Career and Immigration options for Australia

Profile Title: Insurance Loss Adjuster Career and Immigration options for Australia

Alternative Title:Insurance Loss Assessor

ANZSCO Code: 599612 | Unit Code: 5996

Skill Level: Level 3 | Work Experience: 1 Years

Assessing Bodies: Vocational Education and Training Assessment Services (VETASSESS)

Skill Occupation List (SOL): STSOL

Specialization: Not Defined

Profile Description: Inspects and assesses the damage and loss to insured property and business, estimates insurance costs, and acts to minimise the cost of claims to an insurance company.

Job Duties:

• examining scenes of incidents resulting in insurance claims to determine causes and effects
• interviewing witnesses and claimants to obtain details required to assess the validity of claims and identify the parties responsible for accidents, damage and loss, and preparing statements and reports
• inspecting damaged buildings, equipment and motor vehicles and estimating the cost of repairs
• estimating business losses resulting from fire, theft and other business disruptions
• reporting the extent of damage and estimated costs to the insurer
• inspecting property, buildings and operations of commercial and industrial establishments to assess physical conditions and work practices
• evaluating the adequacy of security, fire and related systems
• preparing reports and recommending action to reduce risks
• compiling data which influence the determination of premium rates

Skill Level Description: Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below. In Australia: AQF Certificate III including at least two years of on-the-job training, or AQF Certificate IV (ANZSCO Skill Level 3) In New Zealand: NZ Register Level 4 qualification (ANZSCO Skill Level 3) At least three years of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification. Registration or licensing may be required.

Available Visa Options (As on February 2024):

• 190 - Skilled Nominated (subclass 190)
• 407 - Training visa (subclass 407)
• 489 - Skilled Regional (Provisional) visa (subclass 489) - State or Territory nominated
• 482 - Temporary Skill Shortage visa (subclass 482) - Short Term Stream
• 187 - Regional Sponsor Migration Scheme (subclass 187)
• 494 - Skilled Employer Sponsored Regional (provisional) (subclass 494) - Employer sponsored stream
• 491 - Skilled Work Regional (provisional) visa (subclass 491) State or Territory nominated

Registration or Licensing: may be required

Industries: Insurance Investigators and Loss Adjusters are mainly employed in: Financial and Insurance Services; Public Administration and Safety; and Retail Trade

Education Profile: The most common level of educational attainment for Insurance Investigators and Loss Adjusters is Bachelor degree (37.2 per cent).

Job Opening: Over the five years to November 2019, the number of job openings for Insurance Investigators and Loss Adjusters is expected to be low (equal to or less than 5,000). Job openings count both employment growth and turnover (defined as workers leaving their occupation for other employment or leaving the workforce).

Age Group: The main age group is 35-44 years (32.7 per cent) and the median age is 42 years (compared to 40 years for all occupations).

Gender: The female share of Insurance Investigators and Loss Adjusters is 42.9 per cent and 83.7 per cent of Insurance Investigators and Loss Adjusters work full time. Average weekly hours for full time workers are 41.5 (compared to 40.2 for all occupations).

Earning: In August 2014 (latest available data) weekly earnings full-time before tax (and not including employer superannuation) were $1,340 (compared to earnings for all occupations of $1,200).

Employment: Employment for this occupation fell in the past five years and in the long-term (ten years). Looking forward, employment for Insurance Investigators and Loss Adjusters to November 2020 is expected to decline.