Technology, accessibility and improved communication strategies are all changing the property and casualty industry. Now, restoration contractors know that proper claims, performance and compliance management are all critical to succeed in this fast-paced and competitive industry.
As a restoration contractor, you likely deal with operational challenges on every single restoration project. It’s easy for one small problem to turn into a costly event that could slow down your progress and possibly ruin your customer’s expectations and experience.
To ensure you adhere and follow to specific service requirements standards, you need to a system that will help you navigate the challenges of complying to the specific set of service level agreements (SLA’s) for your job
Being compliant should be one of your primary goals
When a disaster strikes, affected business owners want to get back on track with their company in the fastest and most efficient way possible. Further delays or setbacks could cost businesses even more money if they don't choose the right restoration contractor.
As a restoration contractor, you need to know your potential clients' pain points, so you can offer solutions and meet them right away. Business owners are always skeptical of who to pick for restoration projects and the competition you constantly face is growing even more. As a restorer, you need to be one step ahead of the playing field so you can provide the best experience possible for your clients.
Here are four qualities your clients will be looking for in an ideal
The restoration industry is constantly evolving, and restoration contractors have to remain abreast of all these changing requirements while trying to remain profitable in a highly competitive field. To stay updated, restoration contractors have to streamline their operations to even stay relevant in the field. Without adapting to the changing ways, business and profit margins will eventually decrease.
Why the restoration industry is changing
Insurance business cycles are continually changing and to reflect the economic realities of the market. As insurance carriers shift their requirements, restoration contractors are expected to adjust their process. Now, restoration operations have to increase their awareness and stay one step ahead with their overall business plan.
The changing insurance requirements can become quite overwhelming for some restoration contractors.
As the restoration industry continues to evolve and adapt to the changing business landscape, so does the need for heightened insurance compliance. A big issue for restoration contractors is keeping up with the information and data that moves at lightning speed revolving around their business.
We are in the age of information, and with technology comes access to data. Nowadays restoration contractors have much greater reporting responsibility than 10 years ago. Carriers expect better reporting, more documentation and increased accountability. Whereas we used to talk about “carbon footprint” now we speak about “data footprint.”
Contractors have to ensure they have everything in front of them to do the best job possible and to streamline their actions. Paper binders, file folders and handwritten
In today’s construction and restoration industry, there’s no time like the present to adopt new technology to allow your business a competitive edge. Technology can seem overwhelming and like too much work for several restorers out there, but there are plenty of reasons why you should have an open mind to technological trends.
Here are four technological trends restorers should pay close attention to within their industry:
1. Going paperless with your business offices
Adopting a paperless mentality to your business is more than just a “Green Initiative” to get your company be more sustainable. While saving trees through less paper usage is a great process to adopt, it also helps your business stay more organized and streamlined, Tech Vibes reported.
To understand workflow automation, you need to re-evaluate your daily tasks to see what roadblocks are holding you back from greater productivity. As restoration contractors, you wear many hats throughout the day.
One minute you could be working on client insurance claims reports, and moments later you could be getting updates from your crew on the restoration process. These jobs can have you running back and forth between clients, work crews and your office. If that’s the case, you’re likely feeling redundant in your workflow.
That’s why so many businesses invest in workflow automation strategies since it’s so critical to eliminate repetitive tasks, improve efficiency, limit errors and keep within your project’s budget, XEROX reported. While restorers would like to better these aspects, there are
Businesses across numerous industries know the importance of real-time data. Having information available sooner allows businesses to react to markets, customers and specific jobs more quickly.
For restoration contractors in the property and casualty industry, being in the know is not only a must, but a way to give their business a competitive edge, Business.com reported. Adopting new technology takes time for some companies, and contractors in the restoration field may be hesitant to adopt new methods.
With problems still bothering contractors who have not adopted to cloud computing, companies only get further out of touch with clients and insurance claims by sticking to "old-school values." While there's nothing wrong with keeping your own ways, in today's world, technology should be a large part
As a restoration contractor, you know how easy it is to suddenly feel like you’re working in circles on your claims assignment. It takes a lot of coordination to ensure all stakeholders are kept abreast of timelines, tasks and responsibilities.
However, more times than not, all the requirements, stakeholders, deadlines (timelines) can overwhelm even the most seasoned restoration contractors.
Here are some ways to avoid to feel overwhelmed on restoration project:
1. Automate your entire workflow
When you automate your claims management, you can help keep everyone up to date with the status of the project and ensure everyone is completing important tasks on time. Without this automation, it is very challenging to stay on top of the key performance indicators carriers
JACKSON— Officials from Next Gear Solutions, provider of management software for the restoration industry, announce the company is expanding its customer service operations in Oxford, Miss. The project represents a corporate investment of $58,800 and will create 60 new jobs.
“Mississippi’s economy continues to grow and our economic development efforts continue to yield success. Small businesses and global corporations alike understand that our state is a great place to do business,” Gov. Phil Bryant said. “I appreciate the Next Gear team for its commitment to Oxford, Lafayette County and the state of Mississippi and thank the company for creating these new jobs. I wish Next Gear many more years of success in Mississippi.”
“The team at Next Gear Solutions is thankful that