The job market for insurance appraisers in the United States

There are currently an estimated 17,600 insurance appraisers in the United States. The insurance appraiser job market is expected to grow by 5.1% between 2016 and 2026.

How employable are insurance appraisers?

CareerExplorer rates insurance appraisers with a F employability rating, meaning this career should provide poor employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 6,500 insurance appraisers. That number is based on 900 additional insurance appraisers, and the retirement of 5,600 existing insurance appraisers.

Are insurance appraisers in demand?

At first glance, average job growth might be expected for insurance appraisers. The expansion of the health industry, in particular, should create appraiser opportunities. This will result from federal legislation in the U.S. mandating individual coverage and increasing the number of health insurance customers, including high-risk individuals who are more likely to file claims. A growing elderly population will also contribute to the volume of claims to be appraised. More claims should lead to increased demand for insurance appraisers to determine which treatments are approved and how much coverage will be provided. The number of appraisers needed may escalate further in the face of rising medical costs, which prompt insurance companies to scrutinize claims even more carefully. The occurrence of natural disasters, such as fires and floods, consistently influences demand for property and casualty appraisers. However, all of these preceding factors suggesting overall employment growth in the insurance field will be offset to some degree by technology. Increasingly, less complex claims are being largely processed by automated systems. The net positive effect on the industry is that appraisers are able to focus on and better evaluate more complex claims. The net negative effect, though, is a reduction in the numbers of appraisers required and available positions. Auto damage appraisers are also projected to encounter fewer employment opportunities, as vehicles continue to become safer and per capita automobile accidents decline. Job seekers will have the best chances of finding work in catastrophe adjustment in high-risk areas, such as the hurricane-prone Gulf Coast. Experienced insurance appraisers may become chief appraisers or claims supervisors.

What’s the supply of insurance appraisers?

The insurance appraiser industry is concentrated in California, Texas, Florida

Insurance Appraiser job market by state