Originally Posted By: Timothy Maloney
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After speaking with Gerry on the phone, I think it prudent to discuss exactly IAR is about.
We are an insurance inspection company. We take orders from insurance companies that want to double check their agents integrity regarding insurance policies. I am sure you understand that naming our clients in an open forum such as this is not prudent business, however, I can say that we have a few nationwide insurance companies that we have exclusive business with.
A few years ago, we had out online serviec with a company that decided to go bankrupt while elaving us with no technology to handle the 30,000+ inspections we were completing each month. To make a long story short, we had a fair ammount of inspectors that completed work that was unaccounted for or not compensated for. Since then, we have managed to stay in business while maintaining our inspectors and have paid off all arrears to our inspectors. When I first took over as the Vendor manager here I ran into a ton of phone calls regarding mostly "Where is my money!!" I am sure some of you that have been around the industry for a while have heard a thing or two regarding this. To set your minds at ease, it has all been resolved and we are back and stronger than ever.
Our new technology company has built a strong product that services not only IAR and our clients, but has many useful tools for the inspectors. Our target inspector is one that is new to the industry or relatively new. What we offer is an entry level contract position that will get the new isnpector some experience in the field while not putting them at risk of using their E&O insurance before they even get started. We provide an almost paperless inspection process that makes use of the internet, digital photography, and online forms. This gets the new inspectors in the mind set of looking for specific items while learning to use online forms and upload digital photos in a logical and consitent manner.
The fact that our inspector database is made up primarely of newly educated inspectors means that we have a high turnover rate and we are constantly looking for new contacts for potential inspectors. As the inspectors we have become more confident in thier abilities, they find new areas of business to tap into. Some stay with IAR, some move on.
During the reconstruction of IAR we were put in a position of having to maintain our clients, and maintain an inspector force while making good on our debts. The outcome of this was our current model ITMS. ITMS is our system of tracking and trnasfering information between the insurance comapnies, IAR and the inspectors. We are 92% complete with the task list for this model. While we arre in construction, we are maintiain those current clients, but have several that have approached us through word of mouth looking to use our system. Due to the technical difficulties in our past we are being extra cautious this time. We will be briniging these clients in one at a time over the next year to increase our nationwide inspection request volume.
Some of our inspectors have signed up as long as 2 years ago and have not received orders to date. Of course this is not something that is within my control, but still it bothers people waiting for work. This wait time will be drastically lowered in the near future as we move forward more rapidly. The fact is its contract work, and the door swings both ways. What I mean is that the inspector is not guarenteed that orders will be sent. On the other hand, when an order is assigned, I have no guarentee from the inspector that they will complete the order. Until we have the volume to begin bringing inspectors on as employees, this is how it has to be.
Its funny you should mention Blaine, the question of volume. This is the question I get asked daily several times but can not answer. Colume is un predictable as it is relative to where people buy insurance. The further we progress the better I will be able to asnwer this but for right now I can't. If you have a specific location, i can give you an idea of our work in that area.
Again, I can only say so much here, but I hope this ahs helped. Please feel free to contact me with any questions or suggestions.
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