Utilizing Technology for Operational & Process Improvement. Contractors, Insurers & TPAs Conflict or Cooperation?

Transcription

1 Utilizing Technology for Operational & Process Improvement Contractors, Insurers & TPAs Conflict or Cooperation? Presented by John North, President Moisture Mapper International, Inc.

2 Discussion Topics Technology What do we mean by technology? Options Measuring ROI Process What do we mean by process? What is a workflow? Measuring ROI Data Analysis What do Contractors, Insurers or TPAs care about? $$$$$$$$$$$$$$$$$$$$$$$$$

3 Technology What do we mean by technology? Software applications Web based Mobile platform Hardware PCs, Tablets, phones Smart devices Electronic data transfer Data mining and reporting

4 Technology What s available for the insurer, TPA & contractor in the technology world? Common platforms Electronic data transfer tools CRM systems affecting operational productivity Claim analysis, estimate analysis and management tools Pricing Tools Process measurement per job supports pricing? Electronic data input options to eliminate paper Data mining and reporting tools Overall indemnity versus expense Scoring per job Performance measurement overall, not just per job

5 Technology: Common Platform Common platform Agreement on standards, i.e. S500 Mutual understanding of terminology Standardizing documentation Standardizing interpretation of documentation Standardizing reporting validating pricing Some common platform examples Xactimate for pricing Itel for flooring pricing interpretation Moisture Mapper for water mitigation documentation and analysis

6 Technology: EDS Electronic data transfer (EDS) is transfer of data in electronic format data such as: FNOL data Contact information Claim creation and assignment data Loss data Pricing data Performance metrics / scoring Payment data Some EDS examples Claim management data- Guidewire Assignment workflow - XactAnalysis Contact management and job tracking data- ClientRunner, Restoration Manager & PSA Process documentation Roofing; Contents; Water Mitigation; Flooring

7 Technology: CRM Systems CRM systems provide contractors: Increased employee productivity and eliminate waste Built-in accountability (automates user notes, etc.) Data & file security Whiteboard job info is not secure Improved workflow for all stakeholders Some CRM examples: ClientRunner Restoration Manager PSA

8 Technology: Claim analysis, estimate analysis and management tools Claim analysis & estimating tools provide: Claim assignment tracking - ensuring standards compliance Auditing of estimates to monitor / correct discrepancies Secure data storage Performance monitoring Report generation

9 Technology: Electronic data input options to eliminate paper Electronic Data Input; Options to Eliminate Paper Many cost effective smart devices available Devices allow capturing information from the field Real time transmission of data from field to office Increases Efficiency Optimizes Workflow

10 Technology Data Mining & Reporting Tools Data mining tools provide: Business intelligence for management Controlling estimate accuracy Reporting tools provide: Overall operational feedback Drill down on specifics Examples: XactAnalysis XactAnalysis QR

11 Technology: Overwhelming number of options? How to pick and choose? What are the best options? Why pick one versus another?

12 Technology: How to pick & choose from the options? From a user perspective Ease of use Efficiency Time management Needs to just work! From a company perspective Integration Common platform Management tools Data mining and reporting tools ROI

13 Technology: How to measure benefits of technology utilized ROI Hard Costs Soft Costs Ongoing measurements KPIs

14 Process: What do we mean by process? Daily work documentation Does it validate the work performed? Daily reporting needs Daily management needs Can it support the price?

15 Key Process Indicators Appropriate Definition of Drying Area(s) Accurate Mapping of Drying Area(s) Sizing & Performance of Dehumidifiers Usage & Number of Air Movers Verification of Moisture Points / Psychrometric Readings Realistic Rate of Dry Down Reduction in Air Movers During Project Controlling Project Costs S500 Compliance

16 Process: What is a workflow? End to end solution. From FNOL, to assignment, to documentation, to project completion, to reporting Final review, analysis and payment

17 Process: How can technology help optimize processes for continuous operational improvement? Automation Continuous monitoring and analysis Ongoing tweaking of processes and workflows Improved utilization of FTEs (full time employees) Outsourcing options

18 Process: How do we measure efficiency, ROI, cost versus benefit? Hard cost savings Insurer Contractor Soft cost savings Insurer Contractor

19 Common Process" Benefits Common Mitigation Process Analysis Platform - Analogous to Xactimate for Pricing Effectively Validate Estimate Accuracy Easily Explain Contractor s Process Documentation Communication Insurer - Contractor Estimate Review Re-Inspection Prioritization Overall Quality Analysis

20 Improving Contractor Operational Quality Provide Contractors With Consistent Documentation Tool Streamline Operations Encourage Daily Proactive Monitoring Provide Consistent, Professional Reporting Tool Effective Internal Management Tool

21 Insurer - Case Study Objectives Establish a baseline for comparison Data generated from XactAnalysis reporting Set parameters based for analysis Compare identical time periods to account for all variables Measure results

22 How Case Study Data Achieved Analyze Carrier Needs Current Workflow Current Processes Identify Inefficiencies Establish Initial Plan Measure Initial Results Fine Tune Parameters Periodically Review / Fine Tune & Update Plan Measure Subsequent Results

23 Insurer - Case Study Overview Multiple case studies conducted to analyze the use of Moisture Mapper and its impact on various datasets: Average Mitigation Indemnity Trends Average Equipment Amount Trends Multiple time frames and regions were selected Multiple data points were measured for comparing before contractors were required to report via the Moisture Mapper platform and after - identifying: Hard cost savings Soft cost savings Efficiencies realized

24 Insurer - Case Study Results Common Platform and Reporting Efficiencies Realized Increased Estimate Accuracy Achieved Positive Impact on Average Mitigation Indemnity Positive Impact / Control of Equipment Cost Improvement in Operational Efficiencies Minimized Training Time Reduction in Open File Time Enhanced Data for Reinspection Criteria

25 Insurer - Hard Cost Efficiencies Real-time Evaluation of Equipment Usage vs. Rate of Dry Down Detailed Analysis of Metrics Improves Average Indemnity Management Average Cycle Time Open File Time Cost Per Day Per Square Foot Per Cubic Foot Metrics Reported by Program, Region, Contractor, etc. Improvement of Estimate Accuracy

26 Insurer - Soft Cost Efficiencies Reduced Post-Claim Liability Due to Enhanced Documentation Supported by IICRC Standards Improved documentation tool for adjusting and claim payment decisions Savings in need for FTEs (Full Time Employees) Reduction in employee training time & ROI due to consistent, common platform

27 Data Capture & Reporting

28 Xactware Water Damage Mitigation Index

29 Xactware Water Damage Mitigation Index

30 Xactware Data Common Types of Estimates

31 Average Value of Property Estimates

32 Annual Average Estimate Value by Industry Type

33 Average Property Estimate Dollar Value per Month by Industry Type

34 XactAnalysis QR

35 XactAnalysis QR

36 XactAnalysis QR = Auditing

37 Communicate Contractor Reviewer

38 Come Out On Top

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