Outsourcing vs. hiring adjusters is a pendulum that tends to swing back and forth in the insurance industry.
Over the last year, we’ve seen a trend of carriers reducing reliance on independent adjusting (IA) firms. To fill the gap, they’ve hired and deployed more dedicated CAT response teams or flex adjusters who can manage routine daily volume when there’s no CAT in progress.
Since we’re currently leaning towards in-sourcing, let’s talk about how to make the most of that investment.
During the recent hurricane Ian event, did you experience challenges getting timely first contact with your policyholders? It’s difficult to manage such an influx, and you want your insureds to become raving fans after these types of events.
The more tightly you can group a given adjuster’s claim radius on the fly as claim density starts to take shape, the more productive they become. You also want to max out your staff adjusters before rolling capacity to IAs, and perhaps divvy up volume to various IAs based on your estimation of their capabilities. With this type of strategy in place, you can do more with less and better service your customers.
If your current claims system can’t do this, we’re here to help! Being first on the scene when insurance is the main topic of conversation is advertising you can’t buy. You have to earn it, and it’s easier than you think with Claimatic!
re the next steps forward toward long-term viability for insurtech carriers.