Restoration Insurance Billing Source LLC

The U.S. Bureau of Labor Statistics projects the insurance sector will lose roughly 400,000 workers through attrition over the coming years, with 50% of the current workforce expected to retire within the next 15 years. The number of insurance professionals aged 55 and older has increased 74% in the last decade, and fewer than 25% of the current workforce is under 35. Graduates from risk and insurance programs are meeting only an estimated 10–15% of the industry’s hiring needs. A 2024 survey by the International Association of Claim Professionals found that while more than two-thirds of respondents believed claims service is becoming more important, only one-third believed their organization was “very committed” to investing in claims talent.

This combination—greater demand, increased complexity, and reduced supply—places significant pressure on the concept of competency. It raises a fundamental question: What qualifies someone to serve as an appraiser in today’s environment?