Desk Jockey
Member
Predictive Analytics
Have you heard or read Peter Crosa’s article about where the drying industry is headed? It’s called Predictive Analytics, Insurance companies are attempting to wrangle in the cost of water damage losses.
How does it work, they have the data to say a 1000sq/ft should be X amount. They analyze 10,000 claims and compared established common denominators and have developed averages based on comparable losses.
So what can you do? Document everything you do, so you have a way of justifying why your invoice is higher than the Predictive Analytics. Also ask for the report that analyzed your loss and numbers. Review it and see if they left off something that may be in your favor.
Have you heard or read Peter Crosa’s article about where the drying industry is headed? It’s called Predictive Analytics, Insurance companies are attempting to wrangle in the cost of water damage losses.
How does it work, they have the data to say a 1000sq/ft should be X amount. They analyze 10,000 claims and compared established common denominators and have developed averages based on comparable losses.
So what can you do? Document everything you do, so you have a way of justifying why your invoice is higher than the Predictive Analytics. Also ask for the report that analyzed your loss and numbers. Review it and see if they left off something that may be in your favor.