To reduce claim costs and time line to closure, reduce long tail liability.
Insurers have accepted that our audits have exposed extremely serious cost irregularities or potential savings in almost every claim we have audited. This has invariably been found to be due to poor management, training, and the decision making process.
Invariably our audits have resulted in changes in management approach, contractor guidelines or reduced invoices.
National or International procedures of restoration and salvage are nonexistent and therefore decisions are often made which are based on perceived liability or profit or worse still, because they have always been done that way!
In trials for insurers we have shown that restoration and salvage can reduce costs by 40% and time lines to claim closure reduced by 75%.
While the claim industry, loss adjusters and contractors are hard working the question must be “Do they work smart” and do they take the route of least resistance?
From our audits and inspections we identify shortfalls or areas where improvement from a different approach can reduce claim costs. The reports provide explanation and we offer training to improve competence and the decision making process.
Where third parties have been found to be negligent we provide evidence for possible subrogation or refund of restoration recovery costs.
Some buildings have taken 12 months to dry and this should be of great concern to insurers especially when similar adjacent properties have dried in weeks.
AUDITS
We provide audits to assess the total claim process and identify synergy between all components and technical competence. The objective is to identify shortfalls and possible improvements.
TECHNICAL INSPECTIONS
We investigate the actions and technical expertise of the contractors and their decision making process. This information is compared to the progress or end result in terms of cost and time and possible alternatives. The objective is to identify shortfalls in training, management and general expertise.
SAMPLE AUDIT COMMENTS
- “The contractors complied with KPIs by arriving on site within 48 hours; they installed drying equipment within 7 days”. The reality was that the equipment was insufficient or unsuitable for the task and drying took 3 months longer than was necessary.
- It took contractors 5 weeks to recognise that the type of plaster couldn’t be dried before hacking it off, “A needless waste of money and time”
- Contractors had filled a skip costing £350 with flood affected contents. On inspection of the contents it was found that 80% of the disposals were salvageable.
- The plaster, floors, doors and frames were salvageable but unfortunately were ripped out!
- “Loss adjusters took three weeks to arrive at the scene and had told the insured not to remove saturated carpet” The result was that a minor flood event caused unnecessary secondary damage to wood flooring resulting in the need for total replacement of all flooring.
- The flooded building was gutted by building contractors yet the adjacent and similar building was dried without demolition within 10 days. Cost differences between two similar properties £200,000 and time line difference 12 months.
See audit report (here)
See our total company profile (here)