Venture Concept No. 2

 

Part 1

Venture Concept #2

Opportunity:

Parker Claims Management is an opportunity to serve business and consumer clients who have been affected by any type of natural disaster resulting in damage to their personal property.  The client’s needs are recognized once they begin to work through the process of any type of insurance claim. 

There are so many different types of natural disasters: fire, flood, wind, tornado, and hurricane.  Natural disasters are not geographically discriminatory, they happen everywhere and to anyone.  The fact that they occur everywhere allows a vast number clients across a vast geography to be served.  This is considered a HUGE opportunity.  Natural Disasters will never cease to happen so the need for our services will be constant, people will always need help when they are affected.

Innovation:

Parker Claims Management is a firm that helps business and consumer clients navigate their insurance claims process to maximize their claim monies received.  Our team is made up of contractors, adjusters, agents, attorneys, and engineers.  Everyone on the team has a specialized field, however they work together to fight for what is right by the client.  When dealing with insurance companies and their adjusters you are constantly met with the burden to prove you are owed monies rightfully so.  Each time a push back is presented the specialist on the team will be there to receive and assist with remedying the issue.

The fee for our firm’s service is 10% of your total claim proceeds received from your insurance carrier.  This fee is fully encompassing and should cover all of the expenses incurred during the entire process.

Venture Concept:

Parker Claims Management is an innovative firm that will allow both business and consumer clients to maximize their claims with the insurance carriers.  Our expertise in navigating the entire process will address the need of our clients to help them get the monies that are deserved to assist them in rebuilding their personal property back to the way that it was before becoming a victim of a natural disaster. 

When clients are satisfied they tell their friends and family members about their experience.  This word of mouth referral technique can be instrumental during recovery from a disaster, people just want help and don’t know where to go to get it.  The belief of our firm is that it will not be too difficult to get clients to sign with us because they will give potential referrals excellent feedback based on the services they have already personally received.

There are not many full service claim management firms in the United States.  Typically individuals choose to focus on one of the team member’s specialties.  I believe this allows Parker Claims Management to experience a low level of competitors.  The likely competitors might have an issue geographically because we are the only full service firm in Hurricane territory.  Hurricane claims tend to be the most difficult to navigate for individuals but usually amount to the largest scale of damage.

Three Minor Elements:

My venture’s “Secret Sauce” is definitely deemed my knowledge of the insurance process and the personal experience that I have with dealing with such.

My next venture could quite possibly be an expansion of our firm with multiple locations.  We would have to really study the market to determine whether or not there is a full service firm already within their area.

My 5 year plan is to have a successfully running adventure that I am still actively involved in.  With my entrepreneurship skills I hope to become partner in the Wealth Management Group that I currently work with.  I think that the idea of a working as a team in my claims management venture will help me with real life team relationships that I currently have.

Part 2

The feedback that was received for my original Venture Concept post was all very good.  I didn't receive any recommended changes but I was encouraged to branch into the B2B side from my current B2C setup.

Part 3

I updated my Venture Concept to include the verbiage for both business and consumer clients.  The feedback I received helped to encourage me to move forward with the idea of bridging the gap between business and consumer clients when it comes to servicing.