May 24, 2022

Save Time, $$ and Maalox through Proactive Vendor Selection!

Rush jobs cost more.

This is true whether you need rush legal service, actuarial service or any other kind of service.  How much does it cost to go an Emergency Room versus a routine or scheduled visit with a physician?  How much is scheduled maintenance on your car versus having to call a tow truck and pay for repairs after a roadside breakdown?  There is a sizable price difference.

Try to anticipate claim needs.  Your bargaining power to negotiate favorable rates and other terms is greater when you are not hurried, harried or under the proverbial gun.

For example, have counsel and other vendors lined up in areas where you do not have existing needs.  This is hard to do.  You are likely absorbed in staffing vendors in areas with pressing needs.  No one suggests you neglect that.

However, the adage applies here, “Dig your well before you’re thirsty!”  The time to line up defense attorneys, cat adjusters or contractors is when you don’t need them.  This is being proactive.  There are many advantages that flow from investing time in this before your needs become urgent.

First, you’re not as stressed out in having to make quick decisions under the gun.

Second, if you wait for a time of peak demand, you will tend to pay a higher price.  You are in a better position to negotiate favorable rates or service standards when you are not in a position of dire need.

Third, you can do a better job.  Rush jobs are often not the highest quality jobs.  When you are working under the gun, under a tight deadline, there is the temptation to “settle for” a choice in order to get the deadline monkey off your back.  You are less likely to be in a frame of mind that lets you slow down, hit the PAUSE button and make a deliberate choice.

Moral:  if your job as an adjuster or as another type of claim professional involves selecting vendors to help you in the claim process, begin that selection process in advance of your time of dire need.

Have you ever had a claim where your proactive selection of a law firm, contractor, rehab agency or surveillance firm ended up saving you money or aggravation?  Any experiences where waiting until the need was breathing down your neck “burned” you?  Share your comment and experience here!

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