Q3-Q4: WHAT TO EXPECT
“Planning is bringing the future into the present so that you can do something about it now.”
― Alan Lakein
2020 is a year rife with unprecedented challenges. As we embark on the return of Hurricane Season its vital to take inventory of what we foresee for the second half of the year. Beyond any forecast, its imperative to understand how GC3's preparation and contingency plan(s) will offer both reassurance to our current customer base and leverage opportunities for new partnerships.
2020 CAT SEASON
The severity of 2020's Hurricane Season vacillates between a potentially increased volume of activity to the worst storm period on record. Variances aside, its safe to assume that the losses we encounter this year will be a marked increase from the 2019 cycle. With that in mind, GC3 has prepared the following considerations to best position us for success:
Insight Restoration: As discussed in the Business Development portion of our company letter, COO Dave Bell has spearheaded and secured a national partnership with Insight Restoration to better accommodate the needs of our carrier colleagues. With CAT Season on the horizon Insight has vowed to dedicate their labor and resources to GC3's claim volume with a weighted emphasis on our Hurricane losses.
CAT Contingency Plan + Vendor Sources: To augment our principle collaboration with Insight, GC3's office staff has dedicated time to develop vendor partnerships to resource the immediate needs of policy holders in the immediate aftermath of a CAT loss. On Friday an official vendor access resource will be published in a new Buildertrend Job File entitled 'GC3 2020 CAT Resources'. In addition these vendor resources will be accessible by state via our GC3 subcontractor app. Employees are encouraged to send any additional vendor resources over the course of this week to assist in the expediency of triage work during CAT Season.
RIOT LOSSES & COVID-19
As predicted by Forbes editor Nicole Fisher in March, COVID-19 & Civil Unrest has elicited a consistent experience of riots and protests in 2020. GC3 experienced our first series of riot claims via longstanding partner Grange Insurance in June. According to BSA Research, the United States has the highest likelihood of consistent social volatility through the remainder of the year.
GC3's collaboration with Insight Restoration has proven to be an invaluable asset in the aftermath of the Minneapolis riots. Our utilization of our newly developed drone resource via Jeremy Womack (VP Large Loss Consulting) offers us a unique documentation offering that better educates the policy holder in their recovery efforts.
Most importantly, the care each of our field personnel take in aiding and communicating with the policy holder in the immediate aftermath of their loss give us an unparalleled advantage. Rather than treating a claim like a service exchange, our staff understands the human element is the deciding factor in whom the owner trusts to rebuild their life's work. Our level of customer care, alongside our expertise and technological advances, will provide a level of confidence to all of our customers during a volatile time in our country's history.