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2010-11-05
Creating a Positive Experience...What's at Stake?

A property damage experience can either make or break a customer's relationship with an insurer...

It's a fact, policyholders who have a positive property damage experience are more likely to remain with an insurer as a loyal customer over a longer period and spread a positive word within their circle of friends and co-workers. Over time, this creates tremendous value for the insurer, in terms of policy retention and customer relations. The problem is when insurance companies assign and select a disaster restoration company based on the lowest bid. The process of using the lowest bidder almost entirely ensures a scenario where large-size property damage claims take significantly longer to settle. Often, inexperienced or cost-cutting disaster restoration companies cut corners, or spend little time with the insured, which in turn, lead to frustrated policyholders and greater inefficiencies along the way. This catch-22 situation will continue to persist, as pressure is applied on adjusters to reduce claim costs, while prices rise.

So, the challenge lies in minimizing the property damage claim costs, and ways in which claims are assigned, while improving customer satisfaction. But is this really possible? The answer is "absolutely."

The only reasonable way to develop a true win-win between all interested parties is to create a positive experience utilizing an expert in the property damage industry, who can significantly improve on both the response time and the closing each file effectively and efficiently, which will result in both a happy policyholder as well as total control over the entire cost of the claim. The solution to this is very simple!

Real-Time Claim Data and Preventative Diagnostics

Using a specially designed platform, real-time information would be fed to all parties involved so that information would trigger resultant actions. Therefore there would be a reduction in processing time and it would improve efficiency, allowing the claim to be closed in a timely manner. The greatest asset would be removing communication problems, and possibly inaccurate information from interrupting the claim process.

Using this real time data coming from the property damage network HQ, not only brings the insurer closer to the policyholder, but also helps the company profit internally at no cost to them. The property damage network can then use that knowledge to design the right experience for customers and the right results in terms of their own profitability.

We call it the 'third dimension of our mitigation business'; how the customer experiences the process of us helping them get their property restored. The first two dimensions being the expertise and services that we offer. CDRG is on the cusp of unveiling an exciting new platform that will see the Insurance Companies and Restoration Contractors working hand-in-hand to streamline claims processes and increase customer satisfaction. What is this platform? Stay