Becoming fluent in insurance claims is no easy task
Dmitry readily admits that when he first started Storm Group Roofing, he didn’t do insurance jobs because he knew almost nothing about how the actual claims process worked. Understanding insurance claims could have won him serious business.
But it didn’t take long for Dmitry to realize that his business would never grow unless he also evolved and became versed in the art of insurance claims.
That’s why today we’re introducing Dmitry’s 8 steps for how to add insurance claims into your business model.
If you follow Dmitry’s guidance, your business could soon be on the path toward doubling or even tripling your profits.
1. Understanding Insurance Claims
Figuring out exactly how insurance claims work is not easy, mostly because it’s not a science, and there is a human element to every insurance claim that has to be accounted for.
Many contractors don’t want to deal with the hassle and paperwork of insurance claims, but that’s where they go wrong.
“You need to understand there’s nothing illegal in charging insurance company,”
Dmitry says, which is why he has a team of guys around him who are experts in making sure that not only is insurance notified and billed for claims, but that they also pay their customers what they’re owed.
2. Attend Insurance-Related Training
As mentioned earlier, Dmitry knew nothing about insurance claims, so to educate himself he attended informative seminars run by companies like HAAG, and people like Steve Patrick.
“Those two classes changed my mind,”
He took that knowledge gained from those who came before him and wielded it to his advantage.
You should too! Sign up for a course on insurance claims in your area today!
3. Invest in a CRM
Start learning today how a CRM can document everything you do. Not only do CRMs help with organization, but they’re also a great tool if you’re ever embroiled in a legal battle and need to be able to provide documentation against a client or insurance company. Dmitry uses JobNimbus because of its sleek and easy-to-use interface, and right now JobNimbus is offering free onboarding ($2,500 value) if you use the code “Dmitry” when you sign up. Additionally, JobNimbus currently only charges each user on your account $25 per month. You don’t want to miss out on this great deal, so get in touch with JobNimbus today.
4. Learn How to Negotiate
Dmitry says that the
“insurance restoration game is very confrontational.”
Because insurance companies are trying to save as much money as possible on claims, and you’re trying to extract as much money from them as you can. It’s a recipe for conflict, but if you can master the arts of negotiation and compromise, both you and your customers will be satisfied with the end result.
5. Invest in Company Cam
Company Cam is great for documenting your jobsites.
Since most insurance claims require between 75-300 photos of the damage, Company Cam is perfect for having all your information in one spot for when you present a claim to the insurance companies.
6. Find a Mentor
You don’t have to go out and spend thousands of dollars on a mentor, but ideally as a business owner you want to bring in someone who has ran their own business and knows what it takes to become successful.
Dmitry has found a lot of inspiration from Rodney Webb over the years, a man who has been a keynote speaker at many of Roofing Insights’ conferences.
Check out this 5-minute conversation between Dmitry and Rodney Webb, where Webb explains how he got into the roofing industry.
7. Learn How to Supplement
On average, insurance companies will try to short a claim by 20-30%, which is why hundreds of thousands of dollars go unclaimed each year by roofing companies.
Learning how to supplement is a great way to pump loads of money back into your business. Dmitry recommends business owners learn how to supplement, then hire someone in-house to handle all the supplements from then on.
8. Build a Process
Whether your business is retail or insurance heavy, it’s key to have a system in place where everyone working on insurance claims can easily access information. At Storm Group Roofing, we separate our retail and insurance claims using different colored folders. Doing so will allow you to not only access information more easily, but also to better track your finances and then be able to market and strategize accordingly.
Thank you for reading our 8 tips about insurance claims that you can implement into your business!
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