What is a Third-Party Administrator (TPA)?
Because property damage can be a heavy expense, most people purchase insurance to cover their assets. As long as the damage was caused by a covered peril, the policy holder should expect to get proper compensation for their residential or commercial property in exchange for their monthly premiums. However, before a claim on property can be approved, damages must be assessed by an insurance claims adjuster. Learn what a property claims management company can do for your insurance firm.
What Is an Independent Insurance Adjuster?
Insurance adjusters examine property damage and report back to your company with suggestions for fair compensation. They thoroughly inspect any property that’s been affected by a covered disaster, prepare a preliminary estimate, and then work with a contractor of the insured’s choice to decide on the scope and cost of the project. Independent claims adjusters are also detail oriented and provide interpersonal skills that are important for meeting with distraught claimants upset by the offered settlement, or the situation in general.
How the Claims Process Is Handled
An affected customer will call your insurance company within a few days to report damages. You know to listen carefully and get as many details as possible to pass on to your adjuster. Sometimes the insured is uncertain about how much damage there really is to their property. An independent insurance adjuster can take a closer look at the claim on property to get a better idea of the extent of the damage and how much the repair will really cost.
Once the adjuster arrives at the damaged property, they can do a full inspection. We know that not all damage is immediately visible. The examination should go deeper than areas with apparent damage. Estimates can then be worked up and contractors contacted to get the damage fixed as soon as possible, so you’ll have happy customers.
What Are the Benefits of a Property Claims Management Company?
Independent insurance adjusters play an important part in the claims process. They are the middleman between your company and your customers, playing mediator when it comes to handling the claim and deciding fair compensation to cover required repair costs. Customers may be more comfortable working with someone independent rather than directly from the insurance company because they feel like they’ll get more money for their claim. A good adjuster is able to calm them in a bad situation and help come up with a fair solution that suits both the policy holder and your business.
Adjusters at claims management companies are highly experienced in investigating property damages. They’re well-trained to understand the different types of damage caused by accidents and natural disasters, so they know where to look and how extensively they should inspect the area to ensure a thorough assessment of the damage.
Hiring an claims adjustment company means working with individuals that are up to date on the latest industry pricing so they can accurately estimate repair costs. They can make sure the repair is done with good quality materials so your customers will be satisfied and your company doesn’t end up having to pay out again in the near future.
Partnering with right claims management company with highly skilled property claims adjusters can mean happier customers and a more efficient process. If you’re looking to improve these areas – Action Claim Service can help.
Contact Action Claim Service today to partner with the top independent claims management company in the Southeast, United States!
(888) 691-1095 | info@actionclaimservice.com
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