Claims Inventory Systems for Water and Fire Damage: Who They Help and How

3/23/2019 (Permalink)

Cracked roof causing this Laurel, MT home to need restoration services.

Keeping track of one insurance claim isn't too hard, but as the numbers of claims grow, the process may become very frustrating. Fortunately, solutions such as a claims inventory system can decrease confusion and minimize complications.

What do Inventory systems look like?

• Claims are organized by loss or damage type, sometimes by both, and often by location
• Individual files are reviewed
• Comparisons are run against regional and national companies
• Response times are tracked and reported

Who Uses the Systems?

Many agents and adjusters use claims inventory systems to improve their services. To get the information they need, insurance professionals reach out to trusted mitigation and restoration companies, such as SERVPRO of Billings. These companies provide estimates and pertinent information, so the insurer is able to track estimates, communicate efficiently with clients and with service providers, and to decrease the time it takes to process a claim.

Why Are They Valuable?

When cleanup and mitigation professionals provide access to claims information, insurers are better able to identify the most common types of damage and compare the costs of restoration jobs. They can access and compare claims on local and national levels.

How Are Claims Affected?

How is a single insurance claim impacted by a claims inventory system? Each time a restoration professional files an estimate, the information is shared with a countrywide database. An insurance agent in another state can then access that information and compare it against the agent's local situation. The information serves as a guide. It reduces the amount of research an agent must complete, thus speeding up the process and ensuring improved accuracy.

The claims inventory system is a great way for insurance agents to focus on a single insurance claim with a broad, informed perspective. For residents of Laurel, MT, this means better service and a speedier resolution to their cleanup and restoration work.