CLM Magazine

MAR 2015

Claims Management Magazine informs and educates claims, risk, and litigation management professionals on the news, trends, products and services that lead to the efficient, cost-effective resolution of property & casualty claims.

Issue link:

Contents of this Issue


Page 22 of 84

S-4 Claims Management // 2015 Property Supplement Advertorial 2015 ProPerty Supplement No solution provider is an island. From the health care of people to the care of pipes, solu- tion providers must adapt to a new world of claims management. Our experience is informative. We have grown to become a nationwide company—the only nationwide pinpoint leak detection specialty frm—based on a simple mission statement: Leak detection without destruction. The economics of today's in- surance market, however, is driv- ing a big change in the way we think about rapid and appropriate response to water loss and dam- age from leakage. We are looking at a claims management process implicating tens of billions of dol- lars where we need proactively to help adjusters and claimants reduce the total economics of a solution. Our company's eforts, as outlined below, underscore critical decision nodes among partners that drive both fve-star customer service and more efcient outcomes. We have learned that excellence in providing a solution is a necessary but no longer sufcient standard; rather, collaboration combined with excellence is what industry change entails. More precisely, our corporate staf and franchise operators use proprietary acoustic technology and best-of-breed infrared equip- ment to provide noninvasive solu- tions to over 100,000 homeowners and businesses annually across 43 states. When we leave a job site, we take pride in our craft and move on to the next site. We now see each solution to a claim as part of a value chain that directly and indirectly infuences what insurers must pay, what claimants ultimately receive, and what transaction costs emerge as a legal process grows, given the increasing cost of water loss. Total economics comprises workfow efciencies of adjusters within their respective companies; enhanced real-time communication among adjusters (independent or third party), claimants, and service providers to afect fve-star service for detecting and repairing leaks; and management of mediators, legal or otherwise, to minimize ad- ministrative costs. Within the next few years, total economics also will include a service provider's capability to seamlessly transmit monitoring information in real time and to store and retrieve technical data from the cloud. Not all solu- tion providers can adapt, and scale is needed. Three areas of change given a collaborative total econom- ics mindset are noteworthy for industry decision-makers. First, the guts of economic improvement along the value chain center on the adoption of enter- prise software, such as Xactware and Xactanalysis. Such software requires both adjusters and solution providers to be trained in the same way and to collaborate in rapidly responding to claims; capturing leak data; building an interactive base of shared information with custom- An "In-Network" Approach to Water Leak Detection to Minimize Loss By Patrick DeSouza, CEO, and Lisa Keeton, VP Insurance Claims and Partnerships, American Leak Detection

Articles in this issue

Links on this page

Archives of this issue

view archives of CLM Magazine - MAR 2015