Everyone is singing tales of doom and gloom right now. Industry and financial experts are using their fortune-telling abilities to tell us to prepare. Prepare for no new businesses, families limiting insurable purchases, more cancellations, fewer renewals, and an industry-wide significant loss similar to Katrina.
These forecasts hit every industry professional with concern but for Financial Officers the bottom line is on your shoulders. Your P & L is your looking glass and you check each line to see the health and future of your company.
While most P & Ls haven’t seen these forecast yet, they say it’s coming. This could be a hard hit since many carriers are still dealing with previous season’s loss creep but companies who use VIP Software report tremendous savings both in expenses and claims leakage.
For decades, our industry has benefited from standardized material costs, paving the way too predictable expense ratios and best practices. We supply new opportunities to tackle LAE and Indemnity while shifting to a state of standardization for pricing. Leveraging your current investments in Claims Infrastructure, VIP empowers you with straight-through processing, removing costly errors and unwanted expenses. Our agnostic processing bridges the gap by Automagically™ automating the workflow from estimate completion to electronic payment processing.
Even though they predict, no one really has a crystal ball, the future is unknown. You have numbers though and numbers don’t lie. That’s why you use them to judge the health of your company and make decisions. With VIP the numbers look better and that’s a bottom line you can bank on.