We had the opportunity to sit down and talk with a couple of our Catalyst Group partners, Balance Claims and Solutions For You (SFY). When we were figuring out what we wanted to discuss in this webinar, it seemed like a no-brainer. These guys are pretty darn smart in a lot of different areas, but they’re experts in supplementing. Michael, Troy, and Greg spent the hour talking about everything you need to know when it comes to supplementing your jobs.
We talk about what to look for in a third part supplementing company, what you need to know if you’re going to develop an in-house supplement team, common misconceptions about supplementing, and more. We’ll hit the highlights below, but you can watch the full webinar here.
What is SFY: SFY started as a small estimate company based in Denver, but has quickly grown. The team at SFY works with contractors to maximize their profits and get the most out of each supplement. You can learn more about them and their process here.
What is Balance Claims: Balance Claims works to remove the distractions and headaches that keep contractors from doing what they do best. As a third party claims adjuster, Balance helps contractors work through the estimating and supplementing processes more efficiently.
What is CompanyCam: Founded in 2014, CompanyCam is a photo-based solution created for contractors, by contractors. Users can take unlimited photos — which are location and time stamped, sent to the cloud, and stored securely. Every photo is organized by project and instantly available to your team, allowing you to see what’s going on anytime, anywhere. With CompanyCam you can work smarter, avoid costly mistakes and get paid faster.
What you need to know if you’re going to do in-house supplementing: There’s a lot to consider when it comes to supplementing, and choosing between doing it yourself or hiring a third party is first and foremost.
Here are some important things to take into account when making that decision:
-Do you fully understand the supplementing process and all the variables? Be honest with yourself.
-How large is your company? Can your in-house team handle the volume of claims?
-Are you and your crews documenting your jobs sufficiently? Not having enough documentation could be crippling.
-Do you have the proper systems and people in place to run efficiently?
What to look for in a third party supplementing company: Troy from Balance Claims had a lot to say on this topic. We cover the very basics here, but to hear everything Troy said about what to look for, watch the full webinar.
-What kind of team and staff do they have?
-How long have they been in business?
-Do they really know their stuff? Test them on different line items.
-How many claims can they take on during storm season?
-How do they communicate with clients? Will you feel like a priority?
Common misconceptions about the supplementing process: The supplementing process can be a lot to take in, and there’s no shortage of myths and misconceptions floating around about how it all works. We went ahead and broke all these down in the webinar. For the full myth-bust, check out the episode here.
-Turnaround times during storm seasons
-Hiring an insurance adjuster to handle your claims
-Garbage in equals garbage out
-Communication between internal supplementing and outsourced supplementing
-Setting the right expectations for the homeowner
Troy, Greg, and Michael lay it all out for you and go into a ton more detail in the webinar, so be sure to watch the full 90 minutes here! Special thanks to Troy Clymer of Balance Claims and Greg Marthaler of SFY for collaborating with us on this webinar.
We host webinars with our partners and other industry experts twice a month, so keep an eye out for announcements on how to register over on our Facebook page.