The Real Cost Of Claims Professional Fee Concessions

Insurers historically have sought to obtain independent property adjusting services to balance better, faster, and cheaper outcomes. In years past, “balancing” was understood to be the operative word. Insurers’ property claims professionals were aware of the fact that a balance of these objectives was necessary in order to obtain optimum results. In recent years, there has been a move toward a procurement process that largely places the insurer’s claims professionals on the sideline while agreements are negotiated. Once the procurement department has completed these agreements, the insurer’s property claims professionals and the organization as a whole often find that they have been unwittingly set up for failure.