What is a Loss Assessor and What Do They Do?

Claiming from your insurance company can be a very difficult and overwhelming process. Having a loss assessor at your side not only simplifies the process but takes the stress and hassle off your shoulders.

 

 

Should you suffer the misfortune of having to make a significant insurance claim, it is worth knowing what the role of a loss assessor is and how they can help you.

 

Loss Assessor vs. Loss Adjuster

A loss assessor is different to a loss adjuster.


A loss adjuster works for the insurance company and their role is to maximise the company’s bottom line. They represent the insurance company’s best interest and their role is to reduce the amount of compensation the company pays out for claims.


A loss assessor, on the other hand, works on behalf of the policyholder and claimant. They negotiate with the loss adjusters and use their knowledge of the insurance industry to manage insurance claims and obtain the best pay-out possible for their client.

 

The Role of a Loss Assessor

A loss assessor will investigate the damage and loss that has occurred, determine the cost of restoration, and compile all documentation, evidence and information relating to the insurance claim. They act as the claimant's single point of contact throughout the claims procedure, simplifying to process greatly.


A loss assessor will manage all aspects of your insurance claim including:

  • Investigate existing claims which are subject to delays or problems as well as claims that have been declined by an insurance company.
  • On new claims, they execute a detailed examination and investigation of all losses and damage.
  • Prepare the claim on their client’s behalf.
  • Meet with the loss adjuster and other representatives appointed by the insurance company.
  • Conduct negotiations in order to obtain the most favourable claim settlement.
  • Arrange supply of replacement possessions lost or damaged if required.
  • Appoint and manage remedial building contractors or restoration experts if required.

 

Benefits of a Loss Assessor

There are many benefits to employing the services of a loss assessor. As you single point of contact, it is very easy for you to ask questions and have all concerns addressed quickly and easily. They will manage your entire claim minimising any stress you may feel as a result of the complicated claims process and provide you with ease of mind that your best interests are looked after.


Loss Assessors:

  • Do not represent insurance companies.
  • Act solely on its client’s behalf throughout the claims process from investigate to remediate.
  • Leverage their detailed knowledge of how insurance company’s claims processes work.
  • Thoroughly examine, quantify, and negotiate claims to get clients the best possible result under the terms of their policy.
  • Arrange emergency support if needed e.g. building security, personal accommodation.
  • Negotiate interim claims pay-outs where possible.
  • Get losses restored quicker.
  • Achieve pay-outs for claims that were originally denied by the insurance company.

 

 

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