| Author |
 Topic  |
|
mshort68
USA
138 Posts |
 Posted - 02/12/2003 : 11:45:00
|
| Jim, quick question. How long have you been a cat adjuster? Just curious and what is your background, claims? |
The grass is always greener on the other side, but it still has to be mowed! |
 |
|
|
Dadx9
USA
143 Posts |
Posted - 02/12/2003 : 11:48:42
|
Well, I see alot has been discussed since I was last able to log on. (Had to go look at three hail losses in Leavenworth, Kansas).
I beleive my original intent in mentioning five claims a day was to set realistic goals for those 'newly' into our profession. There is no doubt that most can average more than 5 a day on a hailstorm. That is why many 'specialize in hail'. Nothing wrong with that.
2,000 claims in 14 months? That's fantastic, I only wish you could have reaped the benefits of your labor ($300 - 400K). I contend if you can complete 500 claims a year, you will enjoy financial success in our industry.
I would like to answer one area that was brought up. (This may belong somewhere else, so I'll be brief).
One area that the carriers are hammering on (internally) is severity. Serverity meaning how much is paid per claim. (The classic argument between staff and IA is, the IA wants to 'surf' the schedule and the staffer needs to control severity). When we look for that little 'extra' birdhouse or thermometer, we increase the claim. But, when you divide the claim into multiple suffixes you diminish the severity.
Example. $5,000 loss to structure. Severity - $5,000 (not good). $5,000 to structure & $50 loss to personal property. Severity - $2,525 (excellent).
The carriers have an obligation to pay for all physical damage. But, if we do our part we become a value to our client.
I have (like many others) walked both sides of this fence. Severity is a key element especially when it comes to justifying IA expenses.
Food for thought. |
Don
"To be held in the heart of a friend is to be a king."
Bruce Cockburn |
|
|
|
JimF
USA
1014 Posts |
Posted - 02/12/2003 : 11:53:12
|
Memo to mshort68: 31 years (32 in September, or undoubtedly longer than you have been alive or in diapers) in property and recognized in the state courts of several states as an expert witness in valuation. 40+ completed and passed exams of IIA and CPCU.
Some of my larger losses in the $25+ million dollar range with my portion of the billing well NXS of $50,000.00 for ONE CLAIM. $10,000, $15,000 or $25,000 is more typical, but heck give me a handful of those every year, and you keep on doing your 2,000 per year.
I also work 4-5 claims a month regionally which provides $5,000 to $10,000 per month without leaving home; higher when the large losses occur.
In other words, I get called out for and handle claims you'll never see.
Now, how about you? |
Edited by - JimF on 02/12/2003 12:31:29 |
|
|
|
mshort68
USA
138 Posts |
Posted - 02/12/2003 : 11:55:43
|
| I agree Don that you must look at all the damage, I'm just saying simply that these are some of the things that do not catch my eye. Sure screens, a/c's, barbecue grills, lawn furniture and depending on size mailboxes, but people aren't concerned with there mailbox or dryer vent. And I know that you'll say that you aren't doing a complete job, and yes I've paid for mailboxes, but never a dryer vent. I wish I would have been as comfortable back then as now and I would have made a mint considering they would have given that many cliams (doubtful). I understand that not everybody is fast and still makes a good living and that is why we are in the bus. to make a living. Can't we all just get along! |
The grass is always greener on the other side, but it still has to be mowed! |
|
|
|
mshort68
USA
138 Posts |
Posted - 02/12/2003 : 11:59:17
|
| Question Jim why aren't you retired? You should have plenty of money instead of having to chase storms around? Not trying to be mean just asking. 10 + years, most on storm. All P&C. |
The grass is always greener on the other side, but it still has to be mowed! |
|
|
|
mshort68
USA
138 Posts |
Posted - 02/12/2003 : 12:00:43
|
| Oh yes, I almost forgot. Designations. BS and FOS. |
The grass is always greener on the other side, but it still has to be mowed! |
|
|
|
mshort68
USA
138 Posts |
Posted - 02/12/2003 : 12:07:44
|
| If I could sit at home and make 120k, I'd never leave the house. Gravy if you can get it. |
The grass is always greener on the other side, but it still has to be mowed! |
|
|
|
CatDaddy
USA
310 Posts |
Posted - 02/12/2003 : 12:10:12
|
Slow down Jimbo. Mr. Short asked you about how long you have been doing this, not me. I think you are projecting your anger again. I think you should talk to Dr. Anduss about your problem.
But now that you have so laid it all out for us, I wonder how someone with so much experience and knowledge can be so single minded.
And another thing....what an IA bills on a claim has NOTHING to do with how good a job he did on it. At most it tells me atleast he can make a checkmark on a billing sheet.
And by the way, you're wrong again. 'Bout to be 38. Sorry.
I'll keep watching. Later all! |
|
|
|
Dadx9
USA
143 Posts |
Posted - 02/12/2003 : 12:21:47
|
Michael,
I regards to 'can't we all get along' comment. I don't believe I was critical of you. I believe I was simply bringing to light some things and reasons for doing what I do. I did not say or imply that you were doing an incomplete job. I just want to encourage those 'new' to our business that they can feel like they belong if they average 5 a day. I believe there were others who inflammed this discussion by saying those of us (who have done this a considerable amount of time) who 'only' average 5 completed claims a day are some how 'second class or second tier' adjusters. I work and work consistently. I will continue to do what has brought me to the dance. I encourage you to do likewise. But please don't insult by assuming that if an adjuster completes less than you that they are less than you or are not organized.
My desire is for all to be all they can. I hope the best for you and yours. |
Don
"To be held in the heart of a friend is to be a king."
Bruce Cockburn |
|
|
|
Ghostbuster
476 Posts |
Posted - 02/12/2003 : 13:40:43
|
Oh Boy! I've done been promoted to be a Public Adjuster! I didn't even know I had applied for the position. Does this mean I now can have group medical and dental coverage along with profit sharing and a company car?
I rechecked my profile and while there is the mention that I prefer brunettes over blondes, I can't find the P.A. connection. Do I need to clean my bifocals again?
But, enough of my problems, let's focus again on the exuberance of youth personified by the Big Red kids. I'm reminded of the old joke about the young bull and the old bull wherein Junior wants to visit all the heifers and Pop says one at a time. The flip side of that is the heifers laugh and agree that silly Junior is here and gone while Pop takes his time and does the deed right.
So, you colts go ahead and leave your Insureds high, dry, and frustrated while us stallions win the hearts and minds of our Insureds. |
|
|
|
mshort68
USA
138 Posts |
Posted - 02/12/2003 : 15:14:29
|
| Ghost, maybe you should be a PA with all the Bull your throwing out there. Just sit back, watch and learn. |
The grass is always greener on the other side, but it still has to be mowed! |
|
|
|
CatDaddy
USA
310 Posts |
Posted - 02/12/2003 : 15:19:15
|
Ghost, I am not sure how you made the jump to PA? I know I have called you lots of things but I would not do that to you, even with the "colt" remarks you laid on me.
In an earler post, I made a reference to Willy S. Cook, who is a PA, and I think the short-fused mshort got confused. It could happen to anyone, especially a watermellon seed spit'n, redneck like you.
Dadx9 - I agree with you. I want everyone to be all they can be. Thats all you can ask of a person. Unforunately, some are just shooting pool with a rope. |
|
|
|
Topic |
|
|
|
Is the glut of newbies due high$ expectations?
Forum Locked
