Simply Snap, Speak & Send

Tags - Popular | FAQ  

PrevPrev Go to previous topic
NextNext Go to next topic
Last Post 12/02/2007 1:26 PM by  BobH
More than one vendor / Mini IA firm
 6 Replies
Sort:
You are not authorized to post a reply.
Author Messages
OdieWyatt
Member
Member
Posts:56


--
11/28/2007 11:13 PM

    Does anyone (daily claim adjusters) work for more than one IA firm at one time (as an independent contractor)? When it is so slow and this is your only job, is it better to try to work for two or more firms or get a second job at Home Depot?

    How many adjusters work as their own mini IA firm, that is just you or just you and your spouse, either directly for a carrier or for another larger IA firm?  If you work as an individual or as a mini IA firm, why do you choose the route you are taking? Any advantages/disadvantages to either one?

    0
    moco
    Member
    Member
    Posts:122


    --
    11/29/2007 12:09 AM

    Hi Odie, i work daily claims only and have since i begin, which was not that long ago. I was asked to sign a contract when i started with my IA (if not i would'nt be working now) agreeing not to work for any other firms while i was sub contracting with said IA. I am not sure what would happen if i eloped a little, but i dont plan on jeopardizing anything solid. I can imagine i would be let go or starved out if they discovered that i was running for another firm. Additionally they provide all of the essential software and mergable documents for completeing the claims. I f something goes wrong, i.e computer crash etc. we have a computer junkie on hand, and he is always available if there are any problems or questions regarding such issues. I was basically computer illiterate when i entered the business, with exception of knowing how to use email or get on line, but i have came along way thanks to this firm who has coached me, conducts training at least 3 times a year and so on. We are all a family and can lean on one another at all times for help. Several of the guys have extensive experience and are always willing to help and walk you through the odd stuff that is encountered at times with the carrier, questionable losses and proper closing formats. I have never worked a CAT, but It is my understanding that CAT claims pay a better percentage with no cap, where i currently can only invoice up to a certain amount max, but with day claims i am busy most of the time making a regular decent income.

    My complaint's with day claims are: I have at times drove very long periods and invoiced virtually nothing after expenses, but there are just as many times that i will drive very little distances be back home the same day and invoice very well, with very little out of pocket expense. Secondly the carrier seems to take their precious time paying the invoice, have been as long as 6 months waiting. This really gets under my skin, especially since they are not shy about raising H@$%  about us getting out to inspect, deal with PA"s, Contractors and enter some really bad hair raising on the back of your neck areas. Other than this i am happy and obligated for now to my group and don't plan on going anywhere, because after all they have been the one's to bring me this far, with aloooot more to learn. I have heard the stories about really new adjusters getting a few days training and being sent out to a storm site (Because the carrier's need beating hearts to make contact with the insured's) and after being handed stacks of losses freaking out or folding under pressure and washing out. I thank goodness everyday that i have been as fortunate to have the "on the job training" i have.

     

    0
    Adjusterman
    Guest
    Guest
    Posts:3


    --
    11/29/2007 9:00 AM
    Hey Odie and GW,
    A little insite from someone who has been doing this for a number of years. I am currently not receving any claims at all and I am signed with 5 different IA's! Some of these IA's know that they do not have enough claims to give you to keep you busy enough to make a living. But they need to have an adjuster list that looks large and healthy for them to sign any relevant insurance carriers. It really depends on what insurance carriers the IA is signed with. The area you live in and what type of claims are filed in that area. I am in North Carolilna and handle claims in Southern Virginia and South Carolina as well. That is three states I cover. You would think that with that large an area and 5 IA's I would be receiving something right now. Even if it were just a couple claims a week. But I am not. That comes with the territory. Some seasons are great and some just plain S&$^. You put money away during the good seasons and you use that saved money to pay bills during the slow or NO seasons in this case. However it has been so long since a good season that the money that many of us put away is pretty much gone. This puts a strain on what to do. You have invested so much time and money into being an independent adjuster. Being away from home for large periods of time and now there is nothing.
    To answer your question about signing with more than one IA? Well you can do that as long as the contract the particular IA does not have wording on it like the one that GW has which looks like it states that they can not sign with another IA. I have done so and it has not paid of for me yet. Depends on were you are located. It may pay off for me next year and I may have to get help to cover claims for 5 IA's but for now, I am just sitting around doing much of nothing.
    GW I feel your pain when it comes to getting paid. Waiting months on an invoice you filed for a claim you most likely handled in a week or so is ridiculous. You would figure that any person working for an IA would see that you handled a claim in 10 days and it has not been paid for 45 days that they would get that claim paid. But as you and I both know most IA's will only pay you once the carrier has paid them. What kind of philosophy is that! We are not working for the carrier we are signed with and contracted to the IA and they have an obligation to pay us. Just like we have an obligation to handle the claims correctly and in a timely manner. Oh well, that is the nature of the beast.
    Are there any other Adjusters out there that have this same problem. Log on and vent!!!
    0
    JimGary
    Member
    Member
    Posts:470


    --
    11/29/2007 9:55 AM
    Odie, I currently work for 6 IA firms and 1 carrier. I just started with the carrier and it looks like they are going to give me the bulk of my work. Of the 6 IA firms, I get regular assignments from 2 (2-6 a week), and sporadic assignments from the other 4, maybe one a month or less.

    Most folks on this forum are property adjusters, I also do auto, if not for that, I would be at Home Depot. It all depends on what you want to do. I was working with my brother for a while (for a couple weeks or so), waiting on the next storm. After 9 months, I decided it was time to climb out of the ditch and go back to adjusting. It was a slow start, with many broken promises of enough work to keep me busy, but I'm glad I did it. Depending on how the next few months go, I'm really considering not going on the next storm (assuming I'm invited) and just continuing with dayclaims and trying to expand my business here. Possibly actually staring my own IA firm. This roller coaster ride is tough on the home life.

    JWG
    I know the voices aren't real, but sometimes they're right!
    0
    gravelson
    Guest
    Guest
    Posts:1


    --
    12/01/2007 9:32 PM

    Seeking advice. I repair old/new shutters and I'm trying to get on the Insurance Company and/or Adjuster vendor lists.  Been having a hard time accomplishing this.  Any advice?

    Thank you in advance,

    Greg

     

    0
    moco
    Member
    Member
    Posts:122


    --
    12/02/2007 1:01 PM
    Posted By Gregory Levine on 12/01/2007 9:32 PM

    I'm trying to get on the Insurance Company and/or Adjuster vendor lists.  Been having a hard time accomplishing this.   



     Greg you should not have a hard time getting on the list's, the problem is getting called. It is my understanding that the vendors compile a list with thousands of adjuster's name on board, however the most experienced guy's and the ones they have used in the past and have a good reputation or called first and if the carrier request more adjuster's then more names are called from the list, though your name may still be far down on the list and you may not ever be called. When i got started a little over a year ago i sent resumes to every possible vendor i could find, and have only been notified that my name was would be placed on the list, and the occasional request for my resume/qualifications. Though i do get regular email from alot of these vendors on a regular basis wanting me to attend a class of some sort. As you know it is slow and the vendors stay on top of water by selling these classes to newbies who think they can get a few days training and go make 6 figure incomes, how do i know this? Because i was gullible enough in the beginning to spend alot of money and believe that there was carriers screaming and crying for adjusters because there was such of a shortage. After i spent the money and did ride alongs with a friend, who by the way introduced me to the trade, i begin sending resumes all over and would get a response on average. However this was over a year and half ago and i have still not been called for an assignment from any Cat vendor, and may never be called but luckliy i have managed to get in with a day claims vendor who keeps me steady for now, and i am not so sure i want to do Cat at this point. The one thing that you should consider, that  i did'nt, is if a person can obtain 3 or 4 days training and make $100,000.00 why is every one not doing it???? It is not that easy, there is a whole lot more to learn than waht a class can teach in a few days.

    0
    BobH
    Veteran Member
    Veteran Member
    Posts:759


    --
    12/02/2007 1:26 PM
    Posted By GW Moco
    It is my understanding that the vendors compile a list with thousands of adjuster's name on board, however the most experienced guy's and the ones they have used in the past and have a good reputation or called first

    Greg is not an adjuster. He is a contractor looking for contracting work from Insurance companies.

    He should have started a new thread. His post has nothing to do with Odie's original topic.

    Greg, if you want to do construction work for Insurance companies you would focus on water and fire damage repair.  The trade you specialize in would be a very narrow focus, and there is no way you are going to get assignments directly from Insurance companies.  Your time would be better spent advertising in the local area you service.  If someone needs shutters (because of a claim) then you will be visible.  Finding a general contractor who specializes in Insurance work would be another lead into this line of working for claims related jobs.  For example, call your local ServPro and make sure they know to call you if they need shutters done on a project.

    Bob H
    0
    You are not authorized to post a reply.


    These Forums are dedicated to discussion of Claims Adjusting.

    For the benefit of the community and to protect the integrity of the ecosystem, please observe the following posting guidelines: 
    • No Advertising. 
    • No vendor trolling / poaching. If someone posts about a vendor issue, allow the vendor or others to respond. Any post that looks like trolling / poaching will be removed.
    • No Flaming or Trolling.
    • No Profanity, Racism, or Prejudice.
    • Terms of Use Apply

      Site Moderators have the final word on approving / removing a thread or post or comment.