TJ Schmakel

Consumers have trust issues with insurance......😬😑🌊 Whether it's a claims experience gone sideways.... ...a non-renewal for living in the wrong ZIP code.... ...news cycles revealing insurers are "spying" on them... ...50%+ rate increases for "no reason". All these and more are equally confusing and incredibly frustrating to the average insurance consumer. 😡 It's incumbent on the industry to make investments in not only educating consumers on marketplace realities, but also addressing our own very real issues and inefficiencies that further drive negative insurance narratives. 🙏 #insurance #education #hardmarket #trust #innovation

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Good Morning, Claims Tribe! It’s Tuesday, and we’re just two days away from another Q&A session! This Thursday at 5:00 PM EST, we’ll be gathering as a community to share insights, discuss challenges, and support each other through the ups and downs of the industry. Whether you’re dealing with complex claims, managing a heavy caseload, or just looking for new ideas, this is your chance to connect and learn together. Mark your calendars, and let’s make this Q&A a great one! #ClaimsTribe #QandA #Community #IndustryInsights #ClaimsProfessionals #MarkYourCalendars - We Write - You Adjust, Build, & Litigate - 800-272-1601 -⁠ ⁠ #HurricaneClaims #ClaimWrite #largeloss #RemoteEstimates #Writeloss #Xactimate #Appraisal #claimslife #estimates #umpire #3D #Matterport #buildingconsultants #expertwitness #supplements #inspections #Protools #level3Xactimate #legalsupport #InsuranceClaims ⁠ WriteLoss™ - Claim Write Inc. 800-272-1601

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Insurance disasters: How I’ve recovered $250M in claims and the insider tips I use to prepare coverage… Best time to prepare for a claim? Yesterday! The next best time? Now. This might be a bit jarring to hear... But it’s Monday so I’m letting it rip. If you've never heard the term “claims advocacy,” you need a new insurance adviser. Claims advocacy is everything. Especially for financial institutions. Really any company. It's our entire job as insurance brokers. And it's not just about handling claims. Simple / pro tips: 1. It's about preparing for claims before they happen. → read that again please! 2. The right carrier matters more than you think. → their claims handling history, responsiveness, and fairness can make or break your experience. 3. Your policy language clarity is key. → ambiguity can lead to disputes. → work with us to ensure every clause is crystal clear. 4. Stay ahead of regulatory changes. → regularly review your policies and keep up with industry updates to avoid coverage curveballs. 5. Document everything. → from the moment you suspect a potential claim, start a file. → a clear paper trail can be your best defense. 6. Proactive communication is vital. → don’t wait for a claim to test your coverage. Stay in touch with your broker about emerging risks. Easiest way? (Sign up for our newsletters…) 7. Bad faith claims are on the rise. → make sure your broker understands the evolving legal landscape to protect your interests. 8. AI is revolutionizing claims analysis. → advanced analytics can help identify trends and improve risk mitigation strategies. 9. The claims process can be stressful. → choose a broker who provides unwavering support and guidance throughout the journey. The guys at LION Specialty do! Remember: The best time to prepare for a claim was yesterday. The second best time is today. Don't wait until it's too late.

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Are you looking for better claims outcomes? Are your claims handled reactively or proactively on your behalf? Proactive claims management can be the difference between a good outcome or a bad outcome! Things like accurate post accident drug-screenings, return2work programs, cost benefit analysis of employer paid indemnity, and claim reserve reviews, can be the difference between a credit or debit mod. Don't let costly claims management mistakes ruin your businesses EMR. Let's talk about comp strategy and how to achieve a minimum mod for your organization. #EMR #claimsmanagement #proactive #IOA #myIOA #connected #informed #betteroutcomes #construction #concrete #plumbing #hvac #utilityconstruction #excavation #engineering #geotechnical #roofing #designpros #contractors #contractor #architects #tradesman #generalcontractor

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Which Insurance Agency is this General Contractor (Owner) MOST likely going to do business with and why? Brief Info on the GC (the basics only): - $28M revenue - eMod is 1.35 - No formal safety and risk management program - No monoline cyber and EPLI - Has significant claims issues on WC, CA & GL - 21 vehicles in fleet - 34 employees - Got a 21% increase (overall) - Builds new locations for major gym franchises, gas station and truck stop chains all across US. Agency A: → Agency has been on the account for 7 years, referred by a Banker → Agency is a generalist (writes anything that has a pulse) → Produces no educational content or consistent marketing → Minimal, if any social media presence or content strategy → Provides no risk management/LC services → Minimal claims management expertise → Relies on carriers for LC → GC sees Agency 'service team' 1x per year (in person) → No client experience 'road map' and service plan Agency B: → Agency was referred by the GCs CPA firm (who specializes in construction and contractors) → Agency is an industry niche specialist in GCs and Construction → Agency built a world-class 'program' to serve GCs (in-house only) → Produces consistent content (niche-specific educational webinars/workshops, newsletter, social media content on LinkedIn, FB/IG) → Has in-house risk management/LC professional (OSHA certified) → Provides proactive claims management services → Partners with carriers on LC, RM/safety and claims management → Agency typically meets with clients quarterly + pre-renewal strategy meetings → Implements formal client experience 'road map' and service plan for accounts >$10k revenue, VIP experience for accounts >$20k revenue (their 'bread & butter') ********* If you're a fan of Agency B, you'll be a fan of my upcoming Masterclass tomorrow. P.S.: If you hate cold calling, sending spammy DMs, going to endless networking events or begging for referrals, then you'll want to join me on the training call... Sharing all my best industry niche specialization tips, tools and strategies on that Zoom training for FREE, register here now before it's too late👉 https://lnkd.in/eBXkNv8u #insurance #riskmanagement #insurtech #fcoldcalling Alchemy Content Lab

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Nuclear verdicts pose significant challenges for the insurance industry… Most people are aware of the term “hard market” in the property & casualty world. Peter Kampf @ MarshBerry provides some great insight on one of the factors that is contributing to one of the longest hard markets in memory. https://lnkd.in/g2s3mXGp

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Catastrophe modeling firms have released estimates of insured losses resulting from Hurricane Milton, which struck Florida's west coast on Oct. 9, shortly after Hurricane Helene. According to the estimates, insured losses from Milton range between $17 billion and $50 billion. These losses are expected to contribute to what is shaping up to be the fifth consecutive year in which insured catastrophe losses exceed $100 billion, as reported by Moody’s. Earlier in 2024, the reinsurance sector had seen pricing for higher-attaching layers decline by 5% to 10% during midyear renewals in the US.

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You can manage a process, but not people. Hear me out... One of the biggest issues I see in claims operations are leaders who look at process and people as the same thing. They are not the same, and they cannot be. Processes, procedures and systems are static assets that can be managed. By people need to be lead. Leading involves setting the strategic direction of a company, inspiring people, and motivating them to achieve long-term success. When you try to manage people through change, you reduce a human function into a static function. Processes do not have emotions. Procedures do not need to understand their value. Systems do not require unique motivation. People do. So when you are managing the evolution of your claims program, you must separate the process from the people. They require two very different approaches. Processes require management. People require leadership.

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Claims teams face daunting caseloads while expected to invest the time to serve customers with compassion. Claims-processing is more complex than ever as claimants feel anxious about new technologies and insurance leaders feel pressure to take action. We want to do something about it. Sean Merat was honored to share Owl.co's vision at the Reuters Events Future of Insurance conference in Toronto, discussing how deterministic AI supports claimants and claims adjusters alike to help make insurance human again.

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👋 Producers and Adjusters! 🚨 🚨 There's still time to register for Thursday's CE webinar! Have you wondered if captive insurance is the solution for your client? Managing Risk Through Captive Insurance Programs https://bit.ly/4iIMTzR CE Webinar | Producer & Adjuster Credit | NO State Filing Fees 📅 January 9 🕙 11:00 am Eastern Understand risk management approaches, including guaranteed cost and fully insured methods, and compare risk transfer versus retention strategies. Define captive insurance, why companies form captives, and the advantages related to access, control, costs, and coverage. Explore the different types of captives (Single Parent, Group, Cell) and the various coverages they provide for property, casualty, and employee benefits. Examine the financial and operational benefits of captives, along with real-world case studies to illustrate practical applications. https://bit.ly/4iIMTzR

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Please contact me for more information about how we can partner with your business to manage claims and drive results that will improve your risk program! #ClaimsSolutions

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👋 Producers and Adjusters! 🚨 🚨 There's still time to register for Monday's CE webinar! Have you wondered if captive insurance is the solution for your client? Managing Risk Through Captive Insurance Programs https://bit.ly/4iIMTzR CE Webinar | Producer & Adjuster Credit | NO State Filing Fees 📅 January 9 🕙 11:00 am Eastern Understand risk management approaches, including guaranteed cost and fully insured methods, and compare risk transfer versus retention strategies. Define captive insurance, why companies form captives, and the advantages related to access, control, costs, and coverage. Explore the different types of captives (Single Parent, Group, Cell) and the various coverages they provide for property, casualty, and employee benefits. Examine the financial and operational benefits of captives, along with real-world case studies to illustrate practical applications. https://bit.ly/4iIMTzR

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42% of insurance professionals under 40 are already considering leaving the industry within the next five years*. If you’re in the insurance industry, read that again. To solve this problem, you need to give your insurance agents a reason to stay in the business. You need modern ways to incentivize, recognize and reward your team with the gift of choice through an AI-enabled global catalog. Here are a few strategies to get started: ➡️ Provide training through user-friendly, modern technology ➡️ Acknowledge employees and peers with instant and continual recognition ➡️ Offer a choice of meaningful rewards through a Global Rewards platform Ready to get started? Contact us today! *Insurance Information Institute (III)

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We continue to see articles about the hard market, but at some point, carriers will look at their loss ratios and get greedy for market share. It is a cycle that is on perpetual repeat. My question, how long until the P&C lines begin to soften? Clearly, some geographies won't be so lucky due to CAT exposure or regulatory issues, but I suspect we will start to see some easing sooner rather than later. #hardmarket #softmarket #insurance

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One thing I see the insurance companies struggle with (one of many) on a regular basis is 3/4 Ton Pickups. I am not sure why this is but have seen them compare them to 1/2 Ton units, have seen them compare 2WD to 4WD units, and generally are just way off on the values that they offer to the owner in the event of a Total Loss. Take for example this 2002 GMC Sierra 2500 SLT 2WD pickup. When this truck was stolen, the insurance company came back and offered a ridiculous value of $3,500 to the owner. That was just another slap in the face to someone who just had their truck taken from them. Yes, the truck had 278,000 miles but they were not taking into account the brand-new engine that had been installed in the truck just months before the loss. In the end, the owner of the truck supplied me with photos of the truck taken prior to the loss as well as receipts showing the recent new engine. We were able to negotiate on the owner's behalf and got an additional $6,000. We also got to school a few people on the difference between 1/2 Ton and 3/4 Ton Pickups. Never accept the first offer! Get it appraised... Contact CFL Auto Appraise for a FREE Consult. 407-791-4034 #appraisalclause #totalloss #totallossdispute

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