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 information are quickly becoming a thing of the past. Nearly every industrial business that works in the field has their workers connected through smartphones or tablets as technology plays a more integral role, Harvard Business Review stated.
Tracking and documenting information is critical for any contractor, and there are ways to increase turnaround and communication with all involved parties.
Track everything and capture critical information in one place
One of the biggest issues for contractors is keeping every single document on a job in one place. By tracking every piece of information, whether it’s a site address, an agent’s phone number or loss information, contractors can stay more organized. Further, trying to keep track of every Service Level Agreement (SLA) from carriers is a full time job and frankly can be quite confusing. Having a claims management system, which help you and your team navigate the challenges of staying compliant, is essential, not only from a competitive perspective, but also more importantly from a business perspective. Claims management software gets rid of guesswork.
“Take control of your information by adding data in a compliance software system.”
Tracking everything that comes your way will help you cut administrative duties within your office communications and operations. Additionally, tracking all your resources will prevent you from losing important information that might’ve gotten misplaced on a piece of paper in the office or a note you jotted down in the field. Doing this will keep all parties involved and give workers access to critical information in real time.
By using DASH claims management platform, participants or important stakeholders can be caught up on all critical claims information that’s available in real time. Having everyone as well as all offices connected will streamline your restoration process and cut down on preventable costs that come with downtime. Through real-time compliance monitoring, managers and owners can now see who in their team or office is causing the bottleneck.
To avoid this scenario, contractors have to connect everyone together through a simple and singular platform. By automating your system, as a restoration contractor, you will quicken the process and allow fewer tasks to be forgotten. In today’s age, crews need information in real time to stay competitive. Automating your compliance processes will ensure things are completely up to date and all parties are working with the same information.