Virtual Inspection Driving the Insurance Industry

What has been your journey as an individual and a leader in this industry? What are your responsibilities within the organization you work for?

I began my professional journey immediately following the completion of my undergraduate studies, commencing my career at GEICO as a bodily adjuster. Despite possessing no prior knowledge of insurance, circumstances necessitated that I seek employment upon relocating from Illinois to Texas. I swiftly adapted to the demands of the insurance industry and dedicated several years to serving with GEICO, before eventually transitioning into the nonstandard insurance sector. Here, I specialized in handling nonstandard drivers' complex driving records, honing my auto insurance expertise.

After many years of contributing to the auto insurance arena, I assumed a risk management position at Raising Cane's Chicken Fingers approximately seven and a half years ago. Starting as a claims manager overseeing all of the claims programs, I gradually advanced to my current role as a risk manager, responsible for managing all lines of coverage and overseeing all claim programs. As a vital member of the crisis management team, I am responsible for managing our insurance renewal process and programs.

Adjusters face many challenges today, especially in the post-pandemic world. What do you consider some of the most significant pain points?

As I began my career as a bodily adjuster in 2006, I quickly realized the challenges of the insurance industry. The nature of the profession necessitated the ability to communicate effectively with insurers, clients, and colleagues, as insurance is essentially a people-centric industry. The onset of the COVID-19 pandemic brought about a paradigm shift, both personally and professionally. Mental health emerged as a significant concern, affecting how we approach and manage claims and how people carry out their daily jobs.

In particular, mental health has significantly strained the workforce, making it essential to equip employees with the necessary tools and resources to navigate the new realities. People's perspectives on life have undergone a massive shift, impacting their insurance needs and how they approach the claims process. The days of merely pushing paper and following established processes are long gone, as adjusters are now required to go through hoops and hurdles to get clients on the phone and deal with complex traumas arising from the loss of loved ones and the loss of employment.

"While we hope for a break-even point in the cost of insurance and an increase in insurance capacity, it seems more realistic to anticipate a continuous rise in insurance costs."

Furthermore, the cost of insurance has gone up drastically, making it even more challenging for both insurers and clients alike. The focus on insurance has shifted, and it is becoming increasingly more work to manage day-to-day operations efficiently. Despite these challenges, the insurance industry remains an essential part of modern society, and we must continue to adapt to the changing times and demands of the industry.

Social distancing has made a move to virtual inspections a necessity in recent years. Can you discuss the pros and cons of this shift, and have you incorporated any technologies to ensure that the site inspections are accurate?

As a quick-service restaurant company, our risk management strategy during the pandemic was centered around the safety and well-being of our crew members, who are essential to our operations. Our primary challenge was running our business while adhering to health and safety guidelines. To achieve this, we implemented modified shifts, scheduled as A, B, and C, with the same crew members working on the same shift to reduce cross-contamination. We also employed technology to conduct wellness surveys for our crew members to ensure they were safe and healthy before entering the building to prepare and serve the food.

Furthermore, we transitioned to a drive-thru-only service for an extended period until we were confident and could reopen our dining rooms safely. Even after receiving clearance from state regulators, we continued with drive-thru service for some time to double ensure that our crew members felt safe and that we could confidently reopen our dining rooms. Our risk management approach during this period focused on the health and safety of our employees and maintaining the continuity of our operations.

When hiring a public adjuster, from your perspective, how should this be handled since you are acting in the capacity of the public adjuster in the company? 

In our organization, we thoroughly vet our property insurance adjusters and ensure that they align with our culture, which is integral to our success at Raising Cane's Chicken Fingers. These adjusters act as representatives of our brand and must confidently and accurately communicate our values and culture when engaging with other organizations. Therefore, it is essential to take the time to properly vet adjusters and vendors to ensure that they are aligned with our goals and have our best interests at heart. Failure to do so may result in inadequate representation and suboptimal outcomes. To effectively resolve issues, we must communicate and understand the adjuster or vendor's alignment with our culture and their ability to assist us in achieving our goals.

How do you envision the future of this space couple of years down the lane?  

The ever-changing nature of the business landscape presents challenges, particularly in the property market. As a restaurant business, we need help due to the current market conditions. Despite being a growing company with an impressive track record of expanding from 248 restaurants to 703 in just seven years, the cost of insurance is becoming increasingly prohibitive.

The rising insurance costs, including cyber insurance and other lines of coverage, are a cause for concern, especially in the restaurant, retail, and hospitality sectors. While we hope for a break-even point in the cost of insurance and an increase in insurance capacity, it seems more realistic to anticipate a continuous rise in insurance costs. As we continue to grow, the need for insurance will also grow, leading to sustained cost increases.

The restaurant business and related industries will continue to face challenges related to insurance costs. It is crucial to recognize the realities of the market and plan accordingly for the future.

What is your advice for budding professionals in the field?

It is important to note that quality should take precedence over quantity when hiring a team, particularly in the people industry. Every individual brought on board should clearly understand the brand, the company's vision, and how their respective department contributes to the organization's future. Regular communication is vital to ensure everyone is on the same page. Keeping employees updated on growth opportunities, pain points, and other company developments can help foster a sense of team unity.

Encouraging professional development and providing training opportunities can help to build a team that is invested in the company's success and is willing to stay with the organization for the long haul. Clear communication and a shared sense of purpose can also ensure everyone works toward the same goals.