Industry Articles Are Mostly Slighted Towards The Insurance Carrier
Posted by Joe Brennan | Posted in Homeowners Insurance, Insurance Advice, Insurance Claims Help, Insurance Dispute | Posted on 02-28-2014
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I advise people all the time that their insurance company is not “really” looking out for their best interest at all times. The truth is that your adjuster is “first” and primarily looking out for the interest of the insurance company, their employer! Most insurance industry articles and classroom content is designed to teach the adjusters “what to look out for”, as if the insureds are all liars first. It’s guilty first. Look for deception, then handle the claim. Here’s an article in an insurance industry magazine that shows such.
“As always”, all contents related articles in any industry magazine will be written by an executive of Enservio, and this follows suite. You’ll notice that in all of the four topics of the article it’s about what the carrier is doing wrong… (ways to “first” investigate if the insured is a liar). It’s a good article and sheds some light from the carrier side. Do policyholder’s make false claims and bad judgements, sure, however, in more instances than not the carrier’s inexperienced adjuster is incorrect, NOT THE INSURED! Why don’t these professionals write more articles teaching the adjusters how to assist the insured in recovering all they are entitled too? (hmmmm)
Even the name of the article is slighted: TAKING INVENTORY – Four Things You Are Doing Wrong When It Comes To Handling Contents Claims
Holding my breath waiting for an article that teaches adjusters how to go the extra mile to assist the policyholder… exhale (enough of that).
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(C) Joe Brennan is President and owner/operator of Insurance Claims Group, Inc., a national independent adjusting, appraisal, and umpiring firm. We will answer your claim questions FREE as part of our FREE Insurance Advice and Insurance Claim Consulting Services.
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Mr. Brennan,
I see articles authored by you all over, and must say that your insight is very deep, and it is obvious that you are very well versed in the property casualty industry.
I was pleasantly surprised to see this topic exposed by you, as this is an area of the P&C industry that is rarely discussed or even realized. I actually reported on a related topic a few months back, and your findings echo what we found.
Enservio, in my opinion, are currently the best contents related BPO provider available to the Insurance Carrier market. Their business model is of text book merit, and their knowledge on contents far exceed that of the typical inhouse contents department of any major insurance company. With that being said, I would recommend Enservio to any Insurance Company to reduce settlement dollars, as they have very advanced abilities to reduce personal property settlement amounts, and keep control within the Insurance Company. Policyholders naturally are intimidated by the tedious nature of preparing their contents claim, and this allows for Carriers to invest claim adjusting dollars early on, to take the task out of the policyholder’s hands, and thus, control and limit the scope, saving insurance carriers millions of dollars per year, by easily overlooked personal property items, that homeowners will not have the knowledge to even claim.
The contents portion of property claims offers the largest amount of claim dollars that, due to not being associated with secondary markets, such as restoration companies, construction companies, builders, Roofers, etc., are easily subject to oversight and represents a very easy cost to reduce.
For independent adjusters, working for Insurance Carriers, Enservio offers dramatic cost savings, which increases the ROI while typically not a claim cost that homeowners will invest much attention to. Typically, due to the tedious nature of preparing a contents claim, policyholders will blindly allow claim reduction, and without documentation, this reduction in settlement dollars is typically not even realized.
However, as homeowners become to be more web savvy, this portion of property claims become less unknown, and the availability of public adjusters and companies like Digitory, personal property claims are becoming less easy to reduce, and the level of documentation via mobile devices continue to empower homeowners.
Thanks for highlighting this topic, as it is truly under addressed and under estimated.
Hi Ron,
I agree… Enservio is the best company an “insurance carrier” could use to “PROTECT THEIR BOTTOM LINE!” I find with most of the appraisals that I’m involved with, either as appraiser or umpire, that the carrier pricing for contents (whether their own or a service like Enservio) is on average 30% less than what a policyholder can obtain the items for in the real world.