Equity Investments

Business Grants

Investor Access

Deck Creation

 

Contact Us

If you would like Business Shaper Group to review your Investment Readiness and score your potential for funding then get in touch by calling 01953 605521 or email us now.

Email

UK disaster recovery and restoration specialists, Tempest Restoration, are leading the way in a revolutionary move to change the way the insurance industry manages claims.

Founded over 12 years ago Tempest Restoration provide a comprehensive fire and flood restoration service to the insurance industry and commercial organisations, covering all major restoration work for domestic and commercial policyholder claims throughout the UK. Their round-the-clock service and national network of branches ensures that response times are kept to a minimum, thus limiting the secondary damage which can significantly increase the extent of the claim.
To further improve their service, Tempest Restoration has recently invested in ground-breaking software for the UK‟s insurance market. Xactimate, which was originally created in the United States and only recently adapted and launched to the UK market, is designed to streamline the estimating and claims process, limiting the man-hours required to process claims and further expediting resultant actions.


Currently used by 18 of the top 20 insurance providers in the US and with over 80 percent of insurance repair contractors using Xactimate to prepare insurance estimates, the software has a proven track record of success in reducing response times, improving indemnity cost control, and increasing customer satisfaction rates.
Xactware, the company who designed the software, also state that U.K. property insurance professionals who use their technology „cut indemnity costs by up to 20 percent, significantly reduce claims lifecycles, and provide policyholders with a smoother, faster, and more transparent claims journey‟.


Tempest Restoration is confident that the introduction of this new software will not only accelerate the way damage is assessed on-site, it will ensure that estimates created on the system are accurate and relevant to the locality of the claim. Over 30,000 line items are inputted into the estimating programme and listed regionally to account for regional variance in pricing. This comprehensive database of suppliers and products is then updated monthly.


Martin King, owner of Tempest Restoration, said: “Xactimate is a fantastic tool and we are already seeing a marked improvement in the service which we are offering our clients here at Tempest. Not only does the software have the features, such as the floor plan tool, to create a detailed estimate, it has the suppliers and products data which allows us to focus on repair, rather than replacement. This not only ensures customer satisfaction with faster response times, it reduces the overall cost of the claim, with a real emphasis on restoration of damaged items, rather than replacement, which is nearly always the more expensive option”.

Furthermore, Xactimate allows Tempest Restoration to offer their clients a unique opportunity to access real-time updates on any ongoing insurance claim. All clients are issued with a password, allowing them to log into the Xactimate system and discover the status of their claim. This unique function gives insurers the ability to offer their clients fast and accurate updates on the status of their claims, as well as providing a clear and detailed audit trail.

With 69% of the 26.7 million dwellings up and down the UK currently insured, insurance companies are continuing to see an increase in claims. Every year, there are over 8 million water related claims and domestic fires exceed 298,000 per annum. Insurance companies estimate that the typical cost to resolve a water related incident is £22,000 to £29,000 and the average 120,000 arson attacks in Britain cost them over £495million each year. Put simply, insurance companies paid out £3.6 million pounds every day in 2009.

Whilst they appreciate that there is nothing they can do to reduce the number of claims, Tempest Restoration are confident that the introduction of Xactimate will enable them to work with the insurance industry to improve response times, provide more accurate estimates, to facilitate the swift completion of the work carried out and reduce secondary damage, all of which will see the overall reduction in the cost of claims.

Bill Lakin, Training and Development Director for Tempest Restoration, said: “We pride ourselves on providing an efficient restoration and recovery service and with the introduction of Xactimate to drive our claims process, we aim to grow this service and deliver savings to insurance companies up and down the UK”.



For more information about Tempest Restoration or Xactimate, call Gary Douglas-Beet on 01508 493874 or e-mail gary @ tempestrestoration.co.uk.