602-491-2588

How Claims Data Can Guide Your Restoration Business Decisions

Screen showing charts and graphs of restoration insurance billingClaims and collections data can tell you a lot about your restoration business’s strengths, weaknesses, and overall health. Familiarizing yourself with the critical financial analytics of your restoration insurance billing gives you the knowledge you need to approach business decisions with confidence.

At One Claim Solution, we help restoration contractors master their claims and collections. We’ve seen firsthand how being armed with data can empower restorers to grow and improve their businesses. Today, we’re going to discuss what data you need to know about your restoration business’s collections and how this information prepares you to make important decisions.

Data Every Restoration Business Should Know About Their Claims & Collections

Being well-acquainted with your business’s claims and collection data can be the difference between stagnation and growth. Here are some questions you can ask yourself to determine if you have a good understanding of your restoration business claims and collections:

  • What is our average invoiced amount per claim?
  • What is our total invoiced amount year to date?
  • What is our average closed claim collection rate?
  • What is our average profit margin?
  • What is our average number of days from the date of a loss to payment?
  • How many open claims do we have? Where are they at in the collections process?
  • How do our profit margins vary by service? What are our most and least profitable services?
  • How does our profit margin vary between residential and commercial jobs?
  • How does our closed claim collection rate vary from insurance provider to insurance provider?
  • What insurance providers do we work with most?
  • How do our TPA work collections compare to our non-TPA work collections?
  • How do jobs from different lead sources compare in average invoice amount, collection rate, and profit margin? Is our cost-per-lead from each lead source reasonable based on our job profits?
  • Historically, what times of year are busy for us? When do our slow times tend to be?
  • How are our claims and collections trending over time?

Can you answer all these questions about your company’s restoration insurance billing and finances? If not, it’s time to dig further into the data behind your company’s collections.

How Restoration Collection Data Can Inform Your Decisions

The data behind your collections can reveal a lot about your company. Once you’re familiar with this data, you can make informed business decisions. Here are some examples of how your company’s collections data can help you innovate and grow as a business:

  • If your profit margin is higher for water damage mitigation jobs, you might choose to devote more marketing efforts to water damage leads.
  • Is your closed claim collection rate particularly low for one insurance provider? You might take the time to figure out what is different about that provider and refine your claims process accordingly.
  • If your profit margin is consistently low, you can use your knowledge of your claim collection rate to reevaluate your pricing strategy.

Solutions for Tracking Your Restoration Claims & Collections Trends

Staying informed about your restoration insurance billing and collections analytics is an ongoing process. Let’s talk about strategies for ensuring your business stays on top of its collections finances:

In-House Collections Positions

In-depth financial analysis can easily get overlooked when restorers are managing multiple roles within their company. One effective strategy many restoration companies use is creating an accounts receivable position to stay on top of collections. By assigning claims and collections analysis to a dedicated financial role, you gain better oversight and financial expertise to manage this critical part of your business.

Outsourcing Restoration Insurance Billing

Another way to improve your insight into your business’s collections is to outsource. At One Claim Solutions, we handle restoration insurance billing for a wide range of companies. “We have a lot of in-depth reporting, based on all of the data that we have in our system,” Director of Customer Success Alisha Yartzoff says. All of OCS’s contractors get access to our Contractor Portal where they can track their claims progress and access analytics based on their company’s restoration insurance billing data. “We tried to make [the portal] accessible and very easily digestible so they can have more self-serve access to their performance,” Alisha explains.
If you’re ready for a new approach to your restoration insurance billing, reach out to OCS today. We provide transparency into your claims trends so that you are armed with the information you need to steer your business forward.

Connor Trahan

Account Executive

Hi there! I’m Connor, the Account Executive for One Claim. My goal is to guide our contractors through the sales process, ensuring you’re equipped with all the information you need to make your decision and hit the ground running once aboard. We view ourselves as an extension of your business and I strive to make the process an enlightening and consultative one.
My career has primarily been focused in software sales over a few different industries but the last few years were spent helping general contractors solve similar problems to what we’re doing here at OCS! Outside of work, I love spending time with my family, cooking and boating during the summer months.

Nicole Liesenfelt

Director, Human Resources

Hello! I’m Nicole, and I’m here to champion for our employees, recruit for new talent, and impact culture at One Claim Solution. I find satisfaction in supporting a memorable employee experience and bring innovation, problem solving, and strategic view to the process. Nothing is more important than our people, and a healthy culture is my top priority! I have had the pleasure of building my career in various sectors, specializing in small to medium size firms focused on high-growth. My experience is centered around driving and implementing change, leading high-performing teams, and driving process improvements. I am excited to make an impact at One Claim. Outside of work, my family and I enjoy getting outdoors as much as possible to explore beautiful Colorado!

Elizabeth McGlone

Demand Generation Manager

Great to meet you! I’m Elizabeth, and I’m the one behind all the emails and advertisements you’ve been seeing. As the Demand Generation Manager at One Claim Solution, my mission is to connect with contractors like you who need our services. I’m passionate about having an impact on others and I bring a wealth of experience in demand generation and marketing strategy to create moments of delight, curiosity, and education for you.

Prior to One Claim Solution, I had the privilege of building marketing departments from the ground up at companies in a variety of industries, including IT consulting, first protection, and healthcare. Personally, I love being outdoors, playing Dungeons and Dragons and board games, singing, and traveling.

Alisha Yartzoff

Director of Contractor Success

Welcome! I’m Alisha, and I’m here to champion your success as the Director of Contractor Success at One Claim. With a passion for helping contractors thrive, I bring a wealth of experience in onboarding, customer service, and account management to ensure your journey with us is nothing short of exceptional.

Prior to joining One Claim, I had the privilege of scaling SMB and Enterprise Customer Success teams at fast-growing SaaS startups. With over six years of experience at companies like Mavenlink, Teamwork, and ServiceTitan, I honed my expertise in building high-performing teams and fostering proactive, consultative relationships. This background has equipped me with a deep understanding of the challenges faced by businesses like yours, and I’m dedicated to helping you overcome them.

Eric Terry

CTO

Hi there, my name is Eric! I am the Chief Technology Officer here at OCS, spearheading our technical strategy. I have a background in computer science, graduating cum laude from BYU-Idaho with a Bachelor’s degree in Computer Information Technology.

Before coming to One Claim, I served as the Director of Engineering at Slingshot Technology, Inc., a company later acquired by WorkWave in 2021. My professional journey has spanned both emerging startups and established corporations, with a steadfast focus on cultivating high-trust, low bureaucracy teams and innovating technology using agile methodologies.

In my free time, you can find me flying drones, enjoying the outdoors, and spending time with my family.

Cam Smith

COO

Hello, my name is Cam, I’m the COO of One Claim Solution! I come from a management consulting background (Bain & Company) and hold an MBA from the University of Michigan. I have worked at a wide variety of organizations, from Fortune 500 to small-cap, in an equally wide variety of industries. I have over 15 years of experience in operations and strategic growth, and I have spent much of my career focused on developing high-performing tech-enabled service organizations through early stage and high growth phases.

Outside of work, my wife Brittny and I have four kids, ages 13 to 6. As residents of Mesa, Arizona, we love to ski and explore the national parks of the southwest!

Dan Doud

CEO

Hello, my name is Dan, and I am the CEO of One Claim Solution. I am super excited by everything we are doing at OCS to be the market leading insurance billing specialist that advocates on behalf of our restoration contractors. 

My professional experiences are predominantly corporate in nature. My career started at General Electric in finance and accounting. Immediately prior to joining OCS, I spent time as an investor at Bondcliff Partners and management consultant with Bain & Company. I also hold an MBA from the Kellogg School of Management at Northwestern University and got my BS in finance and accounting from Northeastern University.

Outside of the office, I enjoy spending time with my wife, two young children, and our family dog, Whiskey. We live in Charleston, SC and take advantage of the beautiful weather by spending as much time as possible outside at the beach or adventuring around town

Josh Ehmke

Co-Founder and General Counsel

Hi, I’m Josh! In 2016, I co-founded One Claim Solution with my partner Jeremy Traasdahl, and I serve as General Counsel of One Claim Solution. Working in the restoration industry, Jeremy and I saw contractors struggling to get paid quickly and fairly and we knew there was a need for change. We founded One Claim Solution to be this change and it’s been my privilege to see our company grow and to advocate for our clients as general counsel.

Outside of my passion for helping the restoration industry, I enjoy spending time outdoors, fly-fishing, hunting, skiing, and coaching my kids’ baseball teams. I’ve been married to my amazing wife for 20 years and we have a beautiful family of 5 children.

Jeremy Traasdahl

Co-Founder

Hey, I’m Jeremy! In 2016, I co-founded One Claim Solution with my partner Josh Ehmke. Working in the restoration industry, Josh and I saw contractors struggling to get paid quickly and fairly and we knew there was a need for change. We founded One Claim Solution to be this change and it’s been my privilege to lead our amazing team.

Prior to One Claim Solution, I started my career as an inside sales rep for Avnet, then moved to Pepsico as a district sales manager. Outside of work, I love spending time with my wife and four children, two boys and two girls!