Professional contents inventory adds long-term value for adjusters

Recently, I attended a presentation by Chip Merlin, a highly accomplished and well-respected plaintiff’s insurance litigation attorney and public speaker. In his presentation, Chip focused on the public adjusting profession, asking: What does it mean to run a professional and ethically driven adjusting business? And he posed a pointed question: Do you have a job, or do you have a career?

This powerful question made me reflect on the many adjusters we work with across the country. Our company, ARCHER Inventory, specializes in professional contents assessment and valuation. Adjusters hire us to prepare detailed and accurate personal property assessment and damage claims. Surprisingly, no two adjusters or firms we work with follow the same process. How can adjusters perform similar work in comparable environments under like circumstances without standardization? In some ways, I found the answer in Chip's question: Do you have a job, or a career?

Adjuster A vs. Adjuster B

Consider a single-family house fire with personal property damage. We'll use Adjuster A and Adjuster B to demonstrate different processes frequently seen in the industry.

Adjuster A doesn’t see much value in contents claims and often provides direction to property owners on how to prepare their own lists for submission to the carrier. They rarely hire third parties for personal property claims preparation and may perform tasks such as taking a few photos or reviewing the insured’s inventories to provide recommendations. This model places burden on the property owner and limits the valuable service provided by the adjuster.

Adjuster B understands that accurately documenting, assessing, and valuing personal property claims is labor-intensive and often less profitable than building or structure claims. Recognizing that policyholders are often overwhelmed after a fire, Adjuster B prefers to outsource personal property claims preparation to ARCHER Inventory. This eliminates much of the claims preparation work for both the adjuster and their client, providing peace of mind and ensuring claims are fully documented, paid fairly, and resolved quickly.

Job or Career?

Adjuster A might earn more money on individual projects by not getting too involved in the contents claim preparation. For example, they may handle a $60,000 content claim by directing the property owner to provide lists and valuations of their damaged property, submitting the claim with minimal effort from the adjuster. This can yield a commission without requiring much work.

Adjuster B, on the other hand, hires ARCHER Inventory to inspect the property to assess the property and prepare damage claim. Paying for ARCHER’s services, they ensure every item is documented, photographed, and valued accurately. This detailed and professional approach adds an extra $15,000 in value to the claim, resulting in a $75,000 settlement. With reduced disputes and quicker payments, the property owner greatly appreciates the adjuster’s assistance and values their service.

Outcomes-Based Business Development

In our example, Adjuster A may have made $6,000 on the project, while Adjuster B may have made $4,000. However, which client/property owner is most satisfied? Which outcome is most desirable for the insured property owner? Which product was not only less work for the adjuster, but less work for the distressed family?

If an adjuster organizes and pays for professional resources to accurately prepare claims, they add real value and alleviate the burden on the property owner. This approach not only avoids disputes but also enhances client satisfaction, which can help lead to a more reputable and sustainable career as a claims adjuster.

Many adjusters may not see the forest for the trees, prioritizing short-term profits over long-term business development. But for career-minded individuals, providing positive outcomes for clients is essential for building a reputable company and a fulfilling career.

If you or your clients have any personal property claims preparation needs, no matter the size, consider contacting ARCHER Inventory today. By outsourcing your contents claims preparation to ARCHER, you will elevate your quality of service, improve claims outcomes, and achieve higher client satisfaction with more accurate claims settlements.