Climate change has led to more severe weather activity, which in turn has led to an increase in restoration claims. With claims volume increasing during the pandemic, the industry has been pushed to become more flexible when handling the aftermath of a catastrophe and technologically innovative with customer service.
“It is critical that everyone understands what they are purchasing in terms of insurance,” Shane Swinson (pictured), the senior vice president of insurance portfolio at First Onsite told Insurance Business. “With homeowners’ property insurance, there are the obvious typical protections that are included, however limits related to additional living expense (ALE), and limits related to specific sources of water damage can vary greatly.”
“From an insurance and broker perspective, we’re seeing a lot of additional ALE claims for homeowners,” added Swinson. “While these are not traditional direct damage property claims they still require the same amount of attention and resources to properly manage.”
The shift to remote work through the pandemic has also propelled the industry into a new wave of digital communication, aiming to ensure that clients are receiving the information they need in a timely manner.
“We’ve had to really lean on innovative technology to help us,” Swinson added. “We need to make sure information is readily available, ensuring that we are closing the loop with the insurance adjustor, the broker, and the homeowner/ business owner to make sure everyone is on the same page.”
“Insurance companies are also being more proactive,” he said. “When we’re identifying the potential of a severe storm, we’re seeing insurance companies reaching out to their clients and informing them about the upcoming situation, making sure that they make first contact and take the proactive steps necessary to make sure everyone is safe.”
Restoration providers traditionally respond to and mitigate direct damage – however, the need to become proactive has become increasingly important.
Swinson noted that: “at First Onsite we have been pushing those boundaries and working with our customers before the damage occurs, assisting with continuity planning as well as mitigation measures that can minimize a loss should it occur. We pride ourselves on being a true partner, not just in times of crisis.”
