Canadian Accredited Insurance Broker (CAIB) Two Practice Exam 2025 – Comprehensive All-In-One Guide for Exam Success!

The role of insurance adjusters in the claims process is primarily to investigate claims and assess damages. This involves gathering information related to the claim, including interviewing witnesses, reviewing documents, and inspecting the damaged property or person involved in the claim. Their assessments help determine the validity of the claim, the extent of damages, and how much compensation should be paid out based on the policy terms.

Adjusters are crucial in ensuring that claims are handled fairly and efficiently. They serve as a liaison between the insurer and the claimant, providing necessary insights that aid in reaching a resolution. This assessment phase is foundational in the claims process, as it influences the final decision on the claim’s outcome.

In contrast, the other roles mentioned—determining claim amounts after settlement, underwriting new policies, and managing an insurer's financial investments—are not functions typically performed by adjusters. These responsibilities fall under different areas within the insurance company, such as underwriters who evaluate risks for policy issuance or financial managers who oversee investments.