Restoration Service Providers: Embrace Partnerships with Insurance Providers and Grow Your Restoration Business!

The structure of the financial transaction of a property insurance claim is quite unique, in that it is the policyholder that signs the contract for services that will be provided, with the costs being covered by the insurer. Carriers write checks! It's literally their business. So, why are you fighting with the largest purchasers of your services??

Is there any benefit for an organization to take an adversarial position against anyone included in the customer equation? Does the Shingle Manufacturer, Equipment or Software providers, Suppliers, anyone, that a restorer transacts with on a daily basis, view the Restorer as the enemy and try to leverage them into paying more in an attempt to maximize their profits? Absolutely not! These businesses actually provide discounts and incentives to the largest purchasers of their products in order to establish brand loyalty that keeps their customers coming back for more. They understand the most important benefit of engaging in positive business relationships is repeat business! Capturing consistent revenue streams is the key to successfully sustaining and growing any business.??

Restorers need to focus on maximizing efficiencies to ensure profits while helping policyholders in a time of need. Not maximizing their billing while engaging in a contentious relationship on a quest for more profits while the policyholder is suffering from a peril. How swell. We all know that you are not going to get rich off of one claim. Adding 10 and 10 to mitigation estimates, charging emergency service fees in the middle of the day, utilizing an AOB Contract, followed by a lien on the policyholder's property or worse, initiating litigation against the carrier in an attempt to maximize profits, and fighting with carriers doesn't make you a Consumer Advocate. The additional monies collected are not going into the policyholder's repair. Aggressive billing tactics and engaging in constant conflict will alienate prospective clients. The BBB and Online reviews will haunt?your brand, resulting in more SEO dollars in efforts to capture clients. Eventually, sales decline, the constant conflict will spread thru your business creating a toxic work environment, degrading staff morale and will hinder the opportunity for business growth. The outcome is NO ONE IS GOING TO WANT TO Work with you!?

The achievable profit margins working within acceptable billing practices of insurers are absolutely phenomenal. Mitigation providers achieve 60-75% gross margins when dispatching equipment and ringing their registers. GCs that do repairs maintain 40-50% profits margins and Roofers obtain 20% and up to 40% when structured properly. And all this for work that has to be done, someone else is paying for it and the checks don't bounce. Restorers should be grateful to be in a recession-proof industry that never stops. The population will continue to grow, new homes built, and claims are always going to happen. Consider for a moment. Retail remodelers will hit 20-24% gross margins. Home Builders come in at 17-20% gross margins. Restorers, are at the top of the food chain. What is there to complain about?

The most successful brands in the restoration industry today have properly identified the carrier as part of the customer equation. Whether it is major franchise brands, or the industry's largest independent providers, savvy entrepreneurs have?positioned their brands to work directly with insurance providers as a part of their customer service solution. They are not adversaries. The repeat business gained provides consistent revenue streams that help sustain long-term growth. And they are achieving massive success. Look around. The restoration industry is a Millionaire Maker.?

Get positive! Embrace partnerships with insurance providers and grow your restoration business beyond your wildest dreams!??

As industry-leading consultants, iClaimsWork has been assisting restoration service providers since 2012. We believe in positioning restorers as partners with insurance providers to scale their businesses successfully. Embrace this approach, and transform your restoration business into a leader in the restoration industry.

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