Process
Loss Technology Services provides insurance carriers with two options for evaluation and verification of property loss claims. Loss Audit Services is a full-service program, with all work completed in-house by our certified analysts. Or, choose Water Event Manager, an online application that performs evaluations based on the data that you manually input.
Both options provide you with the following customized reports for you to use in negotiations with contractors.
- Cost Evaluation with Drying Log Information
- Drying Log by Visit
- Drying Log Summary Report
Loss Audit Services
Loss Audit Services offers several levels of auditing for your residential water loss mitigation invoices, depending on your needs.
The Preliminary Evaluation requires a transmittal form completed by the adjuster, along with the water mitigation invoice, room dimensions and description of water intrusion source. Learn more about our Preliminary Evaluation.
If the invoice is evaluated to exceed the predetermined differential threshold, LTS recommends having a Detailed Evaluation performed. The Detailed Evaluation requires additional data from the claim invoice, including the drying logs, daily amount of equipment usage, floor covering of damaged area, temperature and relative humidity both indoor and outdoor. Click here for more on the Detailed Evaluation.
Finally, our claims analysts can perform an Agreed Cost discussion based on the results from the Preliminary or Detailed Evaluation. All required information from the Detailed Evaluation is needed to complete this service, unless drying logs are not available. Learn the benefits of an Agreed Cost Determination.
For all commercial claims, mold claims, and fire claims, Loss Audit Services offers a Desk Audit - a detailed, comprehensive analysis and report that can be utilized for claims settlement and litigation purposes.
Water Event Manager
Insurance professionals can access Water Event Manager through any web portal by simply logging in with their user name and password. The following reports are generated by WEM based on the mitigation contractor’s structural drying data:
WEM Contractors
During the water mitigation project, the restoration professional enters project scope data into WEM during each site visit, which generates the drying log by visit report. After completing a water damage restoration project, the restoration professional creates an estimate/invoice from Xactimate®. The insurance carrier then receives a cost evaluation report and a drying log summary report.
Non-WEM Contractors
Insurance carriers can also assess mitigation jobs completed by contractors who do not use the WEM program. In this case, the data from the project, such as drying logs and invoiced pricing, are entered into WEM after project completion.
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