Single PA Expansion Success
Partner Claim Services was contacted to support a public adjuster who had limited capacity for growth to create a plan to reduce administrative loads and free up time to expand his business and support commercial clients.
Client Need
An individual PA with a claim load of 62 active claims.
Was spending 40+ hours a week on the phone with clients, agents, and adjusters.
Claims process delays were caused by inability to address incoming calls from carriers when completing inspections and meetings with clients.
Did not have a single point of integration to track claims leading to the potential for error and increased workload when alternate claims handling options were required.
Solution
Integrated claims tracking software, a shared file system, and shared scheduling software.
Added desk support personnel and file manager to support claim intake and day to day desk support.
Transitioned client onboarding and contracts to Partner Claims team.
Transitioned scheduling to Partner Claims team.
Transitioned all day-to-day interactions with carriers to Partner Claims team.
Transitioned invoicing to Partner Claims team
Year-Over-Year Increase In Revenue
The primary measure of success was year-over-year revenue growth. Over the period of 1 year, Partnership Claims was able to support a 151% increase in overall revenue. In order to reach this level of revenue increase, a goal was set to increase the number of active claims and value of each claim.
Year-Over-Year Increase In Active Claims
By transitioning all desk support responsibilities and onboarding to Partner Claim Solutions it was possible to double the number of active claims that could be handled and allowed the public adjuster to focus on market and build relationships to further increase claim loads.
Increase In Average Claim Value
As part of the desk support process a secondary review was conducted on files to verify that material rates were correct and all applicable line items were properly estimated for. This combined with the additional time that the adjuster had to focus on commercial claims led to an over 26% year over year increase in average claim value.
Reduction in PA Phone Time with Carriers
Because the Partner Claims desk support team coordinated schedules and supported clarification of files with the insurance carriers and fielded questions from clients, it was possible to reduce the time spent on the phone with carriers by 90%. This allowed the PA to better focus that time on expanding his business.
1000% Overall Return On Investment
By working with Partner Claims, it was possible to achieve a significant Return on Investment within months and an overall increase in revenue that was 10 times more than the cost of Partner Claims’ services within Year 1 of the partnership.
What can Partner Claims do for you?
If you would like to discuss your needs and goals to expand your Public Adjustment business, contact us to learn how we can help. Our team can be started with full service desk support within 2 weeks of contacting us.