There’s no denying the overall rise of data flooding our networks on a daily basis. In some ways we can call it a “Data Deluge”. With all this data comes a great responsibility to understand it’s full potential. Nowadays, sound business decisions are based on having access to better business intelligence. Big Data is woven into our industry and affects all of us even when we are not aware. If sustaining your market share is a priority for your restoration company, it is important to understand the following:
• Your data footprint does matter!
• Your data tells a story
• Claims distribution is more performance based than ever
• Data is used to drive performance, improve culture and outperform your peers
More than ever, restoration contractors find themselves at even keels with little competitive advantage. Equipment has become a commodity and liability exposure is rising. Timelines, claims documentation, and KPI (Key Performance Indicators) monitoring have set a new bar for restoration contractors looking to maintain their preferred status with property insurers. Today, claims performance not only means responding to claims quickly to prevent secondary damage and reduce claim severity, but more importantly it means better claims reporting. By reducing inefficiencies that restoration contractors currently face through the use of digital documentation and synchronization, these issues can be solved.
The days of turning in handwritten reports that are illegible, open to improvised data, and take days to upload into a system are quickly coming to an end. Which is why clients rely on real time data synchronization as the only true benchmark to success. As we continue to move further into the digital age, data mining is becoming the currency of choice for insurers looking to award program work.
VPASS is the first performance scoring system that predicts future behaviour by looking into the past. Similar to credit scoring, VPASS looks at past internal compliance metrics to help owners, managers, and their staff understand how they are performing and how likely they are to be compliant going forward. VPASS becomes a critical tool for top performing restoration companies looking to leverage data-driven business intelligence to compete and capture larger market share.
VPASS is a dynamic system that accounts for all types of program requirements and helps drives positive scores on almost any insurance program. By leveraging the power of data into your hands, you can influence the future by knowing what needs to change. VPASS helps to identify where an individual, location or office can improve their performance. It is always easier to fix a problem when you know where to look for it.
An exclusive feature to DASH, VPASS has helped thousands of restorers become top performers in their market. What are you using to become a market leader in your area? The team at Next Gear Solutions are experts in helping companies use their exclusive tools to build a culture of data driven process building.