Contents…The Black Sheep of the Family PAMIC Claims Conference 2015 Presented by: Chris Bond Steve Rotay

What we are planning to cover What are the factors relating to restore or replace your insureds contents Inventory procedures: the history Technology & process of contents restoration

Restore or Replace What are the factors, you consider when deciding to restore or replace your insureds contents?

Type of Good: Hard vs. Soft Porous vs. Non-porous Natural vs. Synthetic Sentimental vs. Standard

Type of Damage Water Fire & Smoke Category 3

Additional Factors Time Severity ◦Location

Additional Factors Cont. Expectation ◦Sentimental Value ◦Time Frame ◦Cost

Inventory Procedures Pen, paper & photo Pro: beats chiseling into stone tablets Con: inconsistent description Con: difficult cross referencing capabilities with photo vs. item Con: sloppy handwriting

Inventory Procedures Live Scribe Inventory dictated to offsite data entry personnel Pro: consistency in descriptions, typeset vs. handwritten Pro: electronic updates and management Con: no direct photo correlation Con: cumbersome and not cost effective

Inventory Procedures Electronic Inventory Software Onsite data entry by technicians Pro: direct photo correlation in reports Pro: time efficient procedure Pro: consistency in reporting data Con: unknown yet, may find technicians playing Candy Crush

Technology & Process of Contents Restoration Pack-out & Contents Evaluation Initial job assessment ◦Expectations ◦DAMAGES ◦Effected contents & What are they?

Inventory & Pack-out Inventory: Crews onsite with Ipads and note any existing damages Pack-out onsite or offsite? ◦Move items to an unaffected part of the home Storage onsite or offsite? ◦We can store contents in our warehouse

Technology & Process Restorative Process Standard Contents ◦Soft goods ◦Hard goods ◦Laundry

Technology & Process Restorative Process Electronics ◦Household ◦Computer/TV/Mobile ◦Electrical with a “brain”

Technology & Process Restorative Process Specialty Contents ◦Sentimental ◦Furniture/Artwork ◦Guns/Jewelry

Pack-in & Inventory Paul Davis Inventory Control Return & Staging Policy Holder Inventory Control ◦Electronic inventory with correlated pictures ◦Check mark their life being restored

Fun Content Facts Magic number 38% ◦You should restore if… ◦Replace if… General product knowledge ◦Helps determine if it makes sense to restore

Questions? Thank you for your time & attention!