Here is a series of articles published across several LinkedIn professional forums related to insurance claim adjusting or management. They show the importance of prioritizing employee retention rather than waiting for employee turnover to occur. This is of particular concern in the insurance claim adjusting industry which, as these articles show, experiences an ongoing and growing problem with employee turnover:
1. "Employee Retention in Insurance Claim Adjusting: A Growing Problem with Few Solutions - Part 1 of 3," LinkedIn (July 11, 2023).
2. "Employee Retention in Insurance Claim Adjusting: A Growing Problem with Few Solutions - Part 2 of 3," LinkedIn (July 14, 2023).
3. "Employee Retention in Insurance Claim Adjusting: A Growing Problem with Few Solutions - Part 3 of 3," LinkedIn (July 22, 2023).
Here is the accompanying video which covers another challenge resulting from lack of employee retention in insurance claim adjusting - fraud:
According to one industry source, one in ten property claims is due to fraud, and fraud overall in the insurance industry cost US consumers over 308 billion dollars in 2021. Therefore, since ongoing turnover can expose insurance and adjusting companies to a number of people whose intentions may not be as apparent as existing staff, it is important to avoid anything that might risk losing a contributing employee whose work you have regularly observed and know well.
Too often companies risk losing proven claim adjusters or claim managers whose work has been proven to be reasonably reliable, not committing fraud or even regular errors. As these articles and the accompanying video explain and document, it is better financially and better for your company's work culture to increase employee retention and to decrease employee turnover, which has the added benefit of increasing fraud prevention.
