Which insurance professional assesses claims and determines payouts?

The insurance professional who assesses claims and determines payouts is an insurance adjuster. Their primary role is to investigate and evaluate insurance claims made by policyholders. This involves gathering information, interviewing relevant parties, inspecting damaged property, and reviewing policies to ascertain the extent of the insurance company’s liability.

Adjusters leverage their expertise to analyze the details and determine fair compensation based on the claims made. They play a crucial part in the claims process, ensuring that payouts are justified under the terms of the insurance policy.

On the other hand, while brokers assist clients in finding appropriate insurance coverage and underwriters evaluate the risk of insuring potential clients to establish terms and premiums, their functions do not include assessing claims for payouts. Claims managers oversee the claims process and may supervise adjusters but do not directly assess claims themselves. This distinction highlights the specific role of the adjuster in both evaluating claims and deciding on the compensatory amounts.