IA Playbook Pt 4 - Adjuster Lottery (Audiobook)

Independent adjusting can feel like a lottery, with many new professionals struggling to navigate the traditional path dominated by high-stakes competition and financial barriers. Exploring alternatives can provide a clearer roadmap to success that enables direct engagement and career satisfaction.

• The traditional IA path is fraught with challenges 
• Competition is fierce, with thousands of licensed adjusters 
• Waiting for catastrophic events leads to uncertainty 
• Significant upfront costs hinder entry into the field 
• Quitting stable jobs can create financial strain 
• The high-pressure environment can lead to reputational risk 
• A restructured roadmap can enhance individual success

Transcript

Speaker 1: 0:17

The Adjuster Lottery. Why the Traditional Path Fails Most IAs. When most people hear about becoming an independent adjuster, they think of becoming a catastrophic property adjuster, chasing hurricanes, hailstorms and fires, making great income in a few months out of the year. While this can happen, it is one of the hardest ways to get started as an IA. It is also not the only way to become a working IA. Let's dive into what this traditional roadmap to becoming an IA is and why there's a better way.

Speaker 1: 0:52

Waiting for you Traditional way of thinking. If you scour the internet for how to become an independent insurance adjuster and find any site other than IAPATH, you'll find instructions to become a catastrophic property adjuster. You may have even read some of these articles telling you to get a license, get Xactimate training, learn the basics of construction, get on rosters and wait for a catastrophic weather event. Seriously, most people will tell you to wait. I didn't make that up. This methodology of getting work without any prior experience has worked for IAs in the past, but is riddled with challenges that make it feel more like a lottery than a strategy. Why the traditional path is so hard? The reason I don't recommend this traditional roadmap is that it takes your career and turns it into a high-stakes gamble. Here's why. 1. You're competing against everyone with a license. If you're chasing catastrophic work, your competition includes every single licensed adjuster. For example, in 2017 alone, 17,732 adjusters were licensed in Texas. That's just one state. Across the country. You're competing with tens of thousands of other adjusters for a spot on a catastrophic team. 2. You have to wait for a catastrophic storm. You can't simply decide to work whenever you want or your family needs it. Your opportunities are tied to unpredictable events like hurricanes or massive hailstorms. The kind of storms that create significant demand for new adjusters, like Hurricane Katrina or Ian, don't happen every year. On average, they occur every three to four years, leaving many new IAs without a chance to deploy in their first year.

Speaker 1: 2:53

3. It takes $10,000 to get started. Starting on this path can cost you $10,000 up front. Why? Because you'll need licenses in multiple states, because you don't know which one will matter for the next storm. You'll have to get certifications like Xactimate, roof climbing gear, training and travel expenses while waiting for your first paycheck. This is all before you ever see a dime. Matthew Allen of Adjuster TV and I worked out this figure together and we both agree $10,000 is the price of admission for a chance to play. Add to that the weeks or months it takes to get paid after closing claims and you have a financial sinkhole before you even start earning. Sinkhole before you even start earning.

Speaker 1: 3:41

4. You must quit your job. When a catastrophe strikes, you need to arrive on site within 48 hours. That means you'll either need to quit your current job or already be unemployed. Declining a deployment often means losing your ranking for future opportunities, whenever they might come.

Speaker 1: 4:07

5. It's all or nothing. When you accept a catastrophic deployment, you're thrown straight into the fire. You'll be given a large volume of claims and if you can't handle the workload or meet expectations, you'll be sent home empty-handed. Failing at your first deployment can damage your reputation with IA firms, and some carriers may even blacklist you across all firms. This all-or-nothing environment makes catastrophic claims the Olympics of adjusting, and fewer than 50% of new IAs deployed on their first catastrophe actually succeed the House Advantage.

Speaker 1: 4:40

The reason so many IAs fail is simple. The system has a built-in house advantage. Insurance companies and IA firms need more adjusters than they'll actually use during a catastrophe. Why? Because most people who claim to be independent adjusters don't know how to do the job. This creates an environment where the odds are stacked against you. Firms deploy more adjusters than needed to ensure they have enough functional ones on site. This strategy makes sense for insurance companies and IA firms, but it leaves new IAs stuck with the risk, uncertainty and pressure of trying to break in.

Speaker 1: 5:24

What if the odds were stacked in your favor? The traditional catastrophic path wasn't built for you. It was built for the system. But what if there was a better table to play at? What if there was a roadmap that didn't require $10,000 up front, years of waiting or quitting your job without guarantees? That's exactly what the eXp free roadmap does. In the next chapter, you'll see how to flip the script, take control of your career and get started in a way that's simple, practical and built for your success. Are you ready to take back the advantage? Let's dive into the roadmap.