Not every insurance job is inside an insurer. Insurance brokers and loss adjusters work alongside insurers as separate businesses, and the Insurance Regulatory Commission of Sri Lanka (IRCSL) regulates both. Their roles get less attention than sales jobs, yet they hire people with claims, underwriting and policy knowledge.
What an insurance broker does
A broker arranges insurance on behalf of the customer, usually a company. The broker compares terms from several insurers, places the cover, and helps the client with claims paperwork and renewals. An insurer’s own sales staff sell that insurer’s products, while a broker works for the buyer.
Common roles inside a broking firm include account executive, claims executive and placement executive, along with administration and finance staff. In Sri Lanka, brokers register with the IRCSL for general insurance broking, long-term insurance broking, or both.
What the rules require from a broking firm
The IRCSL registration guide for brokering companies sets conditions that shape who these firms hire:
- The firm must be a company incorporated under the Companies Act No. 7 of 2007.
- It must belong to an association of insurance brokers recognised by the IRCSL.
- It must have, as a director or employee, a person with insurance qualifications and experience acceptable to the IRCSL, such as the Associate of the Chartered Insurance Institute (ACII), the Associate of the Insurance Institute of India (AIII) or an equivalent.
- The person dedicated to direct insurance business needs at least 5 years of managerial experience in an insurance company or broker.
A 2024 rule amendment also requires reinsurance brokers to employ at least one ACII holder. For you, this means broking firms value staff who are working towards CII exams. Our guide to insurance qualifications in Sri Lanka explains the path from the SLII exams to ACII.
What a loss adjuster does
Loss adjusters investigate and assess insurance claims. They establish what happened, check whether the policy covers it, and work out the value of the loss. The work is common on large or complicated claims such as fire damage, marine cargo losses and engineering projects, where a site visit and a written report are needed.
Since the Regulation of Insurance Industry (Amendment) Act No. 3 of 2011, nobody may act or hold out as a loss adjuster in Sri Lanka unless the IRCSL has registered them, apart from a limited exception in section 89A(2). The Loss Adjuster Registration Rules 2017 apply to individuals and to companies, and they set requirements covering age, residency, qualifications or experience, and professional liability insurance.
The rules list which qualifications and experience count. Read the current text on the IRCSL website before you plan a route into this field, because the requirements can be amended.
How to get started
A practical route is to spend 2 to 3 years in claims or underwriting at an insurer first. Both broking firms and loss adjusters need people who understand policy wording and claims files, and that experience also counts toward the requirements above.
- Start the SLII exams early. They lead on to the CII Diploma and ACII.
- Build report-writing skills. Adjusters and brokers write clear, factual reports and letters for clients and insurers.
- Learn spreadsheets. Claim valuations and premium comparisons run on Excel.
- Get technical exposure. Motor assessing, fire underwriting or marine claims give you material to talk about in interviews. See insurance careers beyond sales.
Check the firm before you accept a job
The IRCSL publishes lists of registered insurance broking companies and loss adjusters. Confirm that a firm appears on the relevant list before you apply or accept an offer.
Related guides and vacancies
To compare insurer-side roles, read life vs general insurance jobs. If you’re starting from scratch, see how to start a career in insurance. Current openings are listed on our insurance jobs in Sri Lanka page.
About the Author
Prasad Fernando is the CEO of Skysol Solutions and the owner of CareerLK.com and CourseLK.com. A digital creator with hands-on experience building and managing online platforms for Sri Lanka’s job and education sectors.