StrikeCheck Releases 2020 Annual Claims Report

Data on 2019 Claim Trends Gives Carriers an Opportunity to Better Understand Risk and Exposure

StrikeCheck’s 2020 Annual Claims Report offers valuable insights on claim trends

CHARLOTTE, North Carolina, February 26, 2020 – StrikeCheck, the leading provider of electronics damage assessments for Property & Casualty insurance carriers nationwide, announced the release of its 2020 Annual Claims Report today. The report features statistics that can help carriers make data-driven decisions and highlights areas where they can improve claim leakage control.

The 2020 Annual Claims Report is distributed to insurance carriers throughout the country. It summarizes data from thousands of residential and commercial claims in all 50 states that were referred to StrikeCheck in the previous year. The report examines claim trends in multiple electrical equipment categories from all causes of loss. Lightning was the most frequently claimed peril in 2019, with TVs and refrigerators as the top claimed electronic items. The 2020 Annual Claims Report also spotlights larger equipment such as solar panels, generators, pool equipment, well pumps, water heaters, electrical systems, and other high-value items that are critical to fully investigate, as they are often repairable.

In addition, the report includes the standard information that carriers have come to rely on, such as reported vs. actual cause of loss, average age of equipment, repair vs. replace cost comparisons, and claimed perils by month. New for 2020 are data points on commercial-specific items, year-over-year changes, and property type trends. As carriers continue to navigate new and changing technologies, these statistics clearly illustrate the need to partner with an expert vendor to control claim leakage, without negatively impacting the customer experience.

“Connected devices are changing the insurance landscape from both a claim and a risk perspective,” says CCG IQ (parent company of StrikeCheck) CEO Damon Stafford. “The data available presents a significant opportunity for carriers to make faster and more informed decisions, and we’re committed to helping organizations use these insights to create a better policyholder experience.”

StrikeCheck, a CCG IQ company, investigates electronic and specialty contents claims exclusively on behalf of insurance carriers, nationwide. We boast the industry’s broadest range of manufacturer relationships and extensive experience across thousands of investigations annually, delivering cost-effective, comprehensive solutions for complex claims. To learn more about our services or to submit an assignment, visit strikecheck.com, email claims@strikecheck.com, or call (888) 980-8544.

This education is brought to you by our sister company StrikeCheck.

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Intro to Solar Power System Claims Webinar Recording

Solar power systems have become increasingly popular over the past few years due to decreased installation costs and increased interest in green technology. With more of these systems in place, adjusters are seeing a rise in damage claims for solar energy systems. This complex equipment can be tricky for even the most seasoned adjuster.

To help you handle these claims more accurately, our experts have done the heavy lifting and constructed a webinar specifically for insurance adjusters. This virtual training includes such topics as:

  • How photovoltaic (PV) systems provide power to a home
  • What PV system components are commonly included in claims
  • How to investigate PV system claims for various perils
  • A review of solar power system claim scenarios

You can watch our Intro to Solar Power System Claims Webinar Recording by filling out the form provided today.

Important: Pre-recorded webinars do not qualify for CE credit

This education is brought to you by our sister company StrikeCheck.

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Solar Power Overview Video

An Introduction to Solar Power Systems

Solar power systems are incredibly complex, and if you’re processing a solar power system or panel repair claim, you want to be sure that you’re handling it appropriately. Even if you’re not a solar power system expert, you’ll want to have at least the basics so that you can evaluate estimates and know what to look for so that you can make the right call.

That’s why we have created a short video discussing solar power systems that insurance adjusters like you can access for free. With our video, you’ll learn:

  • Important points to consider with solar power system claims;
  • The basics of how solar panels work; and
  • How solar panels can get damaged.

Watch the video by filling out the short form today and see how we start looking at solar power system repair claims.

This education is brought to you by our sister company StrikeCheck.

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Inspecting Electrical System Claims Webinar Recording

Claims that involve damage to electrical systems can be particularly tricky even for seasoned adjusters. Understanding the basics of how these systems function, how they can become damaged, and what can be done to repair them is vital to accurately settling electrical system claims.

Adjusters will learn the basics of how electricity enters the home, what equipment is owned by the insured vs. the utility company, how the various components function, and how to troubleshoot these components. We will also review real life claim scenarios to walk adjusters through what to look for and how to review contractor’s estimates.

Important: Pre-recorded webinars do not qualify for CE credit. 

This education is brought to you by our sister company StrikeCheck.

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Water Heater Fundamentals Webinar Recording

Damage to water heaters are pretty common, and when they break, they may not be the only items claimed when they fall on your desk. Water heaters, particularly storage water heaters, can cause thousands of dollars in additional damage when they fail. You want to equip yourself with the fundamental knowledge of water heaters needed to better handle these claims, but where do you start?

Thankfully, you don’t need to study a textbook’s worth of information to manage these claims effectively. At StrikeCheck, our experts have already done the heavy lifting and have constructed a webinar specifically for insurance adjusters who deal with water heater claims. By watching the recording of our 90-minute webinar, you’ll learn:

  • How common water heater damage is;
  • The common perils that damage water heaters and how they can manifest;
  • The types of water heaters you’re likely to encounter;
  • Key components found in water heaters;
  • How water heaters work;
  • Water heater regulations and codes; and
  • What to inconsistencies to look for when handling water heater claims.

This is all explained in a straightforward, concise manner specifically designed to provide insurance adjusters with the information needed to quickly and accurately handle water heater claims.

You can watch our Water Heater Fundamentals Webinar Recording by filling out the form provided today.

IMPORTANT: Previously recorded webinars do not qualify for continuing education credit.

This education is brought to you by our sister company StrikeCheck.

Watch The Webinar