Webinar Recap: The Fundamentals of Financial Management in Public Adjusting

Michael Gogan
Michael Gogan
Apr 11, 2024


Did you miss our live webinar event, The Fundamentals of Financial Management in Public Adjusting

No worries, we've prepared a quick recap featuring iink's Director of Partnerships, Michael Gogan, Claim Wizard’s Co-Founder and Director of RevOps, Lynette Young, and a special guest appearance by Jeromy Leavelle, an active public adjuster and the creator of Control the Narrative.

Michael: We are going to start real quick with what iink is and then discuss some ClaimWizard features that apply to setting up your financial systems and understanding the lifecycle of a claim.

Lynette: I’ve worked with roughly a thousand public adjusting companies over 27 years and every person that has a public adjusting license offers the same services as each other. You have to differentiate yourself as a public adjusting firm. Not just on your ability to negotiate but all of the other things that go with it in terms of removing the stress that goes along with navigating the process.

Jeromy: It’s a pain because literally the only organization that still writes a check is the insurance company which feels so antiquated but when you're dealing with multiple parties and disbursements a check is the only feasible instrument we have to work with at this point in time.

Michael: And as we know getting those checks processed can take a long time and it is a pain but as you know, our goal is to reduce both of those things and ultimately reduce the pain that you as a public adjuster or even the contractor and policyholder experience during this process. Additionally, in a perfect world, we will also be able to help reduce the time in which it takes to get the funds from a claim.

Lynette: I have something that we call a request receive loop, so once you request something in the form of a demand or proof of loss, then you have to know on the receiving part if they’ve negotiated and agreed upon a settlement, you have to pay close attention and receive the money. You can’t just let it go for three months and say, “oh shoot they forgot to send us the money” or “they sent us money but we don’t know that part of the claim this applies to”.

Jeromy: Exactly, when the spotlight hits you, be dancing. One of the things my client loves more than anything is transparency and when I can predict the future about what the carriers are going to do. They think it’s magical. And when all of that stuff happens in sequential order, they get impressed and all of a sudden they begin to fall in line and follow because I’m the one with answers and the reason I do that is so I can build trust throughout the entire claim.

Download the full webinar to learn more about the digital tools and strategies that can help you master financial management for insurance claims.