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  • Do you have the staff to support catastrophe claims?

Do you have the staff to support catastrophe claims?

Property Casualty 360 recently reported on the need to recruit new talent in the insurance industry. According to this source, carriers will soon have to contend with the problem of maintaining efficient business performance while the most experienced employees transition out. One study the article cites asserts that 25 percent of all insurance company workers will retire within the next three years. With the question of how to secure quality talent so pressing, insurance companies can consider outsourcing for high-risk catastrophe claims.

While several factors are influencing this concern, chief among them is the disconnect between workers and the staff they rely upon. In some cases, this has involved deliberate outreach, in which insurance companies look to the specific skills and interests of younger employees to flesh out their workforce.

Since staffing issues are such a focus, companies may find more consistent support by outsourcing catastrophe adjuster jobs. A survey commissioned by BrightClaim recently found that more than 80 percent of companies outsource independent CAT adjuster positions, and that most carrier CAT programs focused on quality adjusters from these sources above all else.

These statistics come from a group of 71 different insurers. Another important data point comes from the size of insurance companies that use full-time adjusters: overall, large carriers (those with a total direct premium written above $500 million) were more likely to employ CAT adjusters full time.

BrightClaim has access to hundreds of pre-screened adjusting professionals across the country who are ready to assist your policyholders in the event of a catastrophe. Through our broad network of field and catastrophe adjusters, we can help insurance companies when they experience a high volume of claims and need dedicated staff.

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