Search
 

Adding Value to the Policyholder Claim Experience

Contractor networks have become a valuable tool in delivering property claims services to policyholders. In the early days of property claims handling, the insurance carrier focus was on providing indemnification to their policyholder. When a claim was reported, the quality of service was focused on how soon an inspection and...

By Contractor Connection, (Advertorial) | Updated on March 01, 2015

Contractor networks have become a valuable tool in delivering property claims services to policyholders. In the early days of property claims handling, the insurance carrier focus was on providing indemnification to their policyholder. When a claim was reported, the quality of service was focused on how soon an inspection and payment could be made to the policyholder. After all, when one reads a typical insurance policy all that is owed, by the insurer, is indemnification. Therefore, insurance companies created workflows and processes that utilized claim staff and independent adjusters as the method of inspection with a race to conclude claims as soon as practical.

During the late 1980s, contractor direct repair programs started to appear in the industry, with many contractors offering to provide free estimates to insurers. Some insurers saw this method of inspection as a less expensive option to inspecting the loss and also an opportunity to assist the policyholder in their time of need. While some programs had success, many discovered that informal contractor networks were not managed properly and came with a risk of potential customer service issues or inaccurate estimates impacting indemnity.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.