Managing the surge by reducing the outstandings
The summer of 2018 will be remembered for a six-week spell when temperatures in parts of the country consistently topped 30C (86F). Following the record-breaking summer, the insurance world is currently faced with a ‘subsidence surge’ after receiving an unusually large number of subsidence related claims. The heatwave played havoc with many buildings due to the sustained warm weather causing water from subsoils to dry out, resulting in shrinkage.
Due to this sudden surge in claims, insurance providers will be keen to close off any straightforward cases, such as those due to pipe washout or poor construction, to allow stretched resources to be better focused on larger, problematic claims. In order to assist insurance professionals to quickly and efficiently repair simple subsidence claims, there are a number of advanced solutions available that offer an alternative to the traditional invasive and time-consuming method of concrete underpinning.
For example, Mainmark’s proprietary resin injection process, Teretek®, requires little to no excavation, creates minimal mess, and often allows the policyholder to reside in the property while the work is carried out. The resin is injected into the foundation soils beneath a structure’s footings, in a process likened to key-hole surgery. The unique two-in-one solution can improve ground bearing capacity and re-level structures. This technology will allow the claim to be resolved in a quicker time frame compared to traditional methods. Other technologies including Mainmark’s JOG Computer-Controlled Grouting process can also reduce the length of the claim process, especially for larger industrial buildings. The multi-point cementitious grout, which is used for level correction and stabilisation, is recognised for its accuracy and its ability to lift a large targeted area gradually under computer control.
These advances in technology are a real game changer when it comes to policy claims, as it benefits the insurance provider, the loss adjuster and, most importantly, the policyholder.
Early intervention by means of the advanced solutions now available to adjusters, engineers, and insurers allows a cost and time efficient restoration of the policy holder’s most prized and valuable asset; their home. Traditional repair processes and methodologies, coupled with long term monitoring, are drawn out (at least from the policyholder perspective) resulting in considerable delay and stress, often because the policy holder needs to sell or revalue their property. One unwanted outcome of delays can be subjective criticism of Insurers and their service providers, bringing brand and reputational damage via the press or social media.
Loss adjusters can also benefit from the use of advanced subsidence solutions as they can assist when managing large claim volumes. By recommending solutions that reduce the repair process and timings, loss adjusters can close off an increased number of claims, allowing more efficient use of stretched resources. This helps to spread their resources more effectively, reducing the overall number of outstanding cases and allows them to invoice their early submission fees.
In order to process this current surge in subsidence claims in the most effective way and to help reduce any backlog, insurance providers should consider some of these more advanced solutions for tackling ground problems.
For CILA members wishing to learn more about these advanced ground engineering solutions, or to learn more about Mainmark, please either visit:
- Project Profiles page: https://mainmark.co.uk/news-resources/projects/
- YouTube channel: https://www.youtube.com/channel/UC7A4DuCz0SjBhIGq2UzCbpw
Feature originally written for the Chartered Institute of Loss Adjusters (CILA) publication.