You’ve previously seen Bo Williamson, owner of Noble Public Adjusting Group, featured on a number of Roofing Insights videos.
And as the owner of Noble Public Adjusting Group, Williamson knows how difficult it is to be successful in business. It not only takes a good business model, but it also requires an underlying set of virtues that the company can lean on during difficult times.
For Williamson, his foundation is built upon religion, and oddly enough, nobility.
“My wife and I named our company Noble,”
Williamson says in explaining to Roofing Insights CEO Dmitry Lipinskiy how his business got its name.
“That’s not a noun,”
he insists.
“That’s an adjective, that’s a verb, and that’s an adverb because the stigma that was around when we started our company was that you have these greasy PA’s that have this look that I don’t even want to describe, and that morally they’re doing shady stuff.”
Williamson wanted to break that trend and give people a reason to put their trust in him and his PA’s.
“Our thing was, we have to change this stigma, so let’s name our company Noble and live up to the name, and have integrity be the top priority,”
Williamson says.
Based on the success of Noble Public Adjusting Group, it’s fair to say that Williamson and his team have lived up to the high expectations they set, but for Williamson, building that type of culture was never guaranteed.
It’s been years since he was a child, but Williamson tells Lipinskiy that when he was growing up in Alabama, he was lacking a steady role model.
Whether it was the people around him drinking too much, or being apathetic to their own situations, Williamson was surrounded by throngs of people who weren’t going to take the necessary initiatives in order to improve their lives.
Those negative mentalities also extended to the way his neighbors viewed money, but fortunately, Williamson was able to see past some of their misguided ideologies.
“I figured out early on that the people around me didn’t know anything about money,”
Williamson says, adding that,
“I was raised around poor people, and it’s a poor mentality to say that wealthy or rich people are scumbags.”
Later implementing that belief into his career, Williamson decided against predetermining the reasons other people were successful, and instead focused his energy on conducting his business with honor and integrity.
As mentioned earlier, that way of thinking has resulted in great success for Williamson, so much so that part of his current role within his company is to make sure other entities are behaving in the same manner.
But as many people know, not all businesses, or insurance companies, act in good faith.
“The only time insurance companies lose is when they lose on purpose. Let me explain what happens,”
remarks Williamson, transitioning into describing the process of how insurance companies manipulate contractors and homeowners into thinking they suddenly will honor their policies and pay out on claims.
Williamson says that if people begin to notice that insurance companies are paying out on more claims, it’s only because they’re intentionally doing so.
“A leopard doesn’t change its spots,”
notes Williamson.
“They’re paying out in a certain region and the reason why is because their whole goal is profit.”
Williamson then says that insurance companies are always looking for reasons to raise the price of their premiums, but they cannot do that without the consent of the state.
As one could imagine, states aren’t privy to letting billion-dollar companies raise their rates without just cause, so to create the perception that they are struggling, insurance companies will pay out on all their claims during a given year.
This eats into their profits, but also gives them the ammunition to later go back to the state departments.
“They’ll tell their adjusters to pay claims, that it’s all about customer service, so then they go out and pay these claims for a year or less, and then they go back to the insurance commissioner of these states and say `see, we told you we need to go up on our premiums. Now look at the money that we’ve lost,’”
explains Williamson.
At that point, states cater to the insurance companies, and once that happens, the insurance companies raise their rates and over time make up to ten times more money than they lost by paying out on all those claims.
Think that’s sketchy?
Check out Dmitry Lipinskiy’s recent interview with John Houghtaling in Lake Charles, Louisiana to hear even more stories of misconduct on the part of the insurance companies!
