We serve two kinds of adjusters; the ones that send work every day, and the one’s that send work when things are busy.
After writing up nearly $290 Million a year in Xactimate Writer Claims, we get a real sense of one simple fact:
THE TIME CONUNDRUM IS THE DECIDING FACTOR OF THE SUCCESS OF THE ADJUSTER!
Adjuster 1 – Sends us work when things are busy. He / She spends a few days in the field every week, and about equal in front of the computer grinding out Xactimate Reports.
Adjuster 2 – Sends us everything, sends work every day. He / She spends the day, every day, assessing claims and virtually no time, grinding out Xactimate reports late in the evening and on days in the field.
We ran the numbers at WriteLoss Inc. and found a simple truth; Adjuster 2, the one that sends us work every day, does over 5 times the number of claims as the one that goes it alone most days. The Adjuster Time Conundrum is really an Xactimate Conundrum. Xactimate is a master that requires time. Xactimate in the hands of one operator yields what one operator can do. We are 10 deep with the ability to gang up on a project or a series of projects.
We have one Public Adjuster client that sends 300 claims a year, on average for the past 5 years. The average claim for this adjuster is $36,312. or $10,893,600 in total claims. This adjuster says that 10% of his claims in the in some protracted long-term legal action. He settles his claims, at about 76% of what he estimates ($8,279,136 in total.) He manages to net about 7% on the settled claims. He moves between six and 10% across all claims. His gross income averages $579,539.52 annually.
We have another client that only uses our services when things are very busy. This public adjuster handles an average of 81 claims per year. The average claim is $40,212 or $3,257,172 per year in total claims submitted. He settles his claims, on average, for 61% of the total he is asking ($1,98,6874.92). His gross income is 8% of the total settled. He grosses $158,949.99 per year.
These are two successful public adjusters. The one that wrote his claims up mostly by himself spent 10-20 hours a week behind a computer. The adjuster that made nearly 4 times the money never sits at a computer. He uses an Iphone and an Ipad, mostly in his car. He calls his clients, makes adjuster meetings more, and follows up on answers from carriers. He settles his claims fast, and always turns in his estimates to the insurance companies within 24 hours of assessing the claim. This adjuster takes 3 vacations a year and actually sleeps. On top of this – the more profitable adjuster helps more insureds!
We help a lot of clients leverage time and live a dream. We talk to adjusters every day that just can’t connect those dots the way they should. The velocity needed to step up the claim process is the answer to the Adjuster Time Conundrum. .
If you are an Adjuster, Contractor, or Lawyer needing to build your business with detailed scopes and other insurance oriented work, that is all we do at Xactloss Inc.. We would love to serve in any way possible.