Search
 

InsurTech Center

Analysis

All in a day's work: 2020 Claims salary survey results

Claims Magazine looks at how claims professionals view the industry, their salaries and the impact of the coronavirus on their jobs.

Graphic showing numbers going up. Approximately 68% of the survey respondents said they were likely to recommend the claims profession to other people. (Photo: Number1411/Shutterstock)

For the past 20 years, Claims Magazine has been tracking the salaries of claims professionals, the benefits they receive, how their jobs have changed, and what they see in the future for the industry. This year, the experts within ALM Intelligence, a division of Claims’ parent company, ALM Media, LLC, conducted the survey.

Multiple Claims surveys over the last several years have indicated that a significant number of claims professionals (almost 30%)  will leave the industry due to retirement. Recent figures from the U.S. Bureau of Labor Statistics confirm this finding to some extent. In 2019, there were 332,900 claims adjusters, examiners and investigators. The Bureau predicts that the industry will see a 6% drop in employment from 2020-2029 or a loss of 21,400 jobs over the decade. Auto insurance appraisers held 15,900 jobs in 2019, and the Bureau expects to see a 4% drop job in employment over the next 10 years or a loss of about 600 jobs.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Patricia L. Harman

Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

More from this author

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.