Every member of the managed repair ecosystem wants to restore policyholders’ homes and businesses after a disaster or incident, but the pressures each stakeholder faces can be worlds apart. Because Contractor Connection sits between carriers and contractors, we see the pressures on both sides, and we recognize that this vantage point brings a responsibility to help close the gap.
This was the impetus behind the first two sections of our recently released Managed Repair Market Report, which was designed to help carriers better understand current contractor economics and identify practical ways to support a healthy, resilient managed repair ecosystem. At its core, the study was envisioned to foster education and to help people understand both the challenges and opportunities across managed repair. Nearly 500 contractors completed our survey, demonstrating that they too see a need to engage on these issues.
Every stakeholder gains tremendous value from managed repair, and even if that value looks different for each one, that shared value is what makes the model work. I’ve previously addressed why carriers should pay attention to the insights uncovered in this report. I’d be remiss not to also highlight what this data means for the entirety of our network.
One of the most telling findings in Section Two of our report is that contractors see relationships and the repair experience as more critical than technical execution. They identified customer experience as the single biggest factor in industry success, selecting it twice as often as quality of workmanship. That’s notable, because while workmanship is entirely within a contractor’s control, customer experience is shared. Speed of service, accurate estimates, and exceptional workmanship all shape the policyholder’s experience; and in the process, carriers and contractors become an extension of each other’s brands in policyholders’ minds.
They also noted that the contractor-carrier relationship is essential to the success of managed repair programs and must be nurtured accordingly. Contractors value the relationship with carriers and their participation in managed repair, but it’s a business equation that must continue working for everyone involved. Survey respondents reported that pressure is rising on both sides: consumer expectations are climbing, and at the same time, some carriers are asking for a greater range of discounts than ever before. The managed repair ecosystem depends on balance, and if this balance tips so far that any one group can’t participate effectively, that hurts everyone involved. That’s why understanding each other’s challenges matters.
If balance is the foundation of a healthy ecosystem, education and transparency are what sustain it. This report gives the contractor perspective a clear, data-centric voice in the industry conversation – and as such, it’s the start of an essential, ongoing dialogue.
The findings are in. Now what do we do with them? Managed repair is ultimately about solutions, so the final section of the Managed Repair Market Report will focus on nurturing contractor-carrier collaboration and how managed repair programs can help strengthen these relationships. Visit the report webpage or download the report to learn more.
