Audio Transcript Auto-generated
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Hey, welcome to one click data.
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Today I'm going to walk you through the one click code.
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Product,
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one click code was the very first product that we came out with because our Ceo
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and founder Garrett kurt really was struggling as
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a roofing contractor and as an insurance just
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trying to find building codes for roofing projects
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and so he wanted to automate that process.
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So let me walk you through kind of what the issues are in the industry and how we're
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trying to solve them and then I'll tell you
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the different persona types that use our app.
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So
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the problem starts with a homeowner.
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So let's start with Norma
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P. S. Norma is not the problem.
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Norma is actually the grandma that we've all wished for.
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She's the kind of grandma that stuff your pockets
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full of cookies gives you the biggest hugs.
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Normal lives in Iowa by herself manages her own finances
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but Norma's roof was damaged in a hailstorm so she filed an insurance claim
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and now the pain really starts
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introducing contractor chris and adjuster Alan
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so contractor chris both have to go out to the house measure the roof,
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look at the damage and they both have to write an estimate that
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they both agree on so that the insurance carrier will pay the claim.
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But if they're both using the same manual systems of calling the city and county
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emailing the city and county or assuming jurisdiction
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based on an address of a property.
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I know that's a mouthful.
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I'll get into it later but if they make assumptions on
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an estimate or they use very outdated and manual systems,
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they can go back and forth with each other over who is right,
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Who has the right information?
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How much should this roof actually cost?
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And that's what we're trying to accomplish with one click code.
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So here's a little gift of the contractor chris wearing the hard hat and adjuster
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Alan and how they can kind of be up on a roof and battling.
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So there's a full video. I'll link it in some of your documents here.
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I'm sure you'll see the video on our website or on our Youtube channel.
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But we have a full video kind of describing what this relationship looks like
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between contractor chris and adjuster Alan because
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they really don't like each other.
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Um, and so that's one of the issues that we're trying to solve with one click code.
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So here's the problem kind of laid out from end to end.
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So a claim is filed, contractors and adjusters have to build estimates.
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They both are using manual systems to gather data.
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They're both wasting time and causing inaccuracies because none of
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them know how much a roof should actually cost.
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And insurance carriers then the insurance company that the
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adjuster works for has to pay the claim,
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but they're paying based on these inaccuracies.
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So these claims just take a long time to get figured out and get resolved
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And so after months and months of negotiations sometimes over the price of the roof,
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the contractor finally agrees to repair the home um,
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using the price that the insurance carrier says that they will pay.
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So norma has not had her roof repaired until this negotiation is complete,
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which can be a long time.
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So let's get into the different persona types who use the app and why they use it.
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The first one is contractor chris we've already talked about him.
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A contractor is someone who can do construction projects on a home.
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We can also call this type of rougher.
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So in, in your job here,
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you will start to understand the differences
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between a contractor and a roofer here.
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We just say it as the same thing.
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You can be a rough for, you can be a contractor, same thing. Um,
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excuse me.
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So if you are a roofer or a contractor,
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you are the first person who's going to the roof,
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you're going to be looking at damages and then you're
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the one who's going to be repairing that roof.
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This person is usually between 25 and 45 years old.
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They may have some college, not necessarily need to have a degree.
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Um,
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they mostly work in the construction industry and these
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people like to use our app because it helps them
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save time when they're looking for building codes for
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a project and those building codes drive their estimate.
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So the very first step in them writing the roof estimate is to find the building codes
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but building codes these days live in a city or county office somewhere
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and you have to call the city or you have to email the county or you have to
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go down to the office and you have to
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see what building codes are required for a project.
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So our app helps them save massive amounts of time because now they can just
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type in the address for the project and they get what building codes are required,
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what sales tax is required for this property and more.
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So we really help them save time. We also help them make money.
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And the way that we can help contractors or roofers
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make money is because every line item on their estimate.
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So nails shingles,
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anything like that gets them money because they can charge
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and margins on top of all of these line items.
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And the insurance carriers will pay for most of these things.
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Where we come in is building codes. So building code line items.
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So you'll see on our application, we have a yes,
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no section for ice and water shield drip edge underlayment.
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These are all layers of a roof that go into a roofing
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project and a contractor gets paid for each of these line items.
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So we help them make money by proving that
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certain line items are required for a roofing project.
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We also help them remove headaches because as we talked about adjuster
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allen and contractor chris are always battling against who is right,
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who has the right information?
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Our app is a source of truth.
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So if both parties are using our app then there will be no more back and forth.
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They won't be a big long drawn out negotiation over who's right.
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So we help them close the job quickly,
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we help them get paid and we help them write estimates that are going to get
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get paid the first time because if they send in an
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estimate with one click code saying these items are required,
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you must pay for them then that negotiation is going to be much smaller.
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The next group is supplementary Susan so we kind of
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wrap this group in the same group as contractors and roofers
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because they they're trying to do the same thing but
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a supplemental er works for a contractor or a roofer.
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A supplemental er is someone who takes an existing
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estimate that a contractor or roofer has created and
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they try and find ways to add more items
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in to get more money from the insurance carrier.
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So a lot of roofers or contractors will have an internal supplement team or their,
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they'll hire an external supplemental
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who can help them add more things to their estimates to get more money.
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So supplementals use our product because of the exact same
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reasons that a roofer or contractor would and that we help
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them make more money because they can prove that certain
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things are required to be covered by the insurance carrier.
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This is our biggest opportunity as a customer group is this
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supplemental group mostly because they do massive amounts of projects.
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So if they're doing a bunch of projects then they're using our tool a lot.
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And so the supplementary group is really the group
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of people that we're going after today in 2023.
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The next group is the other side. Right?
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So these this adjuster Allen works for the insurance
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carrier or he works as an independent adjuster.
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So there are two different types of adjusters.
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You have an independent adjuster who floats between jobs.
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They can either be hired by a what's called a T. P. A firm. A T. P.
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A firm is essentially they just have a roster of a
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bunch of independent adjusters that they can send to jobs.
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If you're an independent adjuster,
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you may get a job from State Farm and then the next day you may
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get a job from farmers insurance and the next job maybe from nationwide insurance.
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So as an independent adjuster, you work for multiple companies.
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And what you really want to do is close claims insurance claims
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as quickly as possible because you get paid on each claim.
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So if you can just do a bunch of claims, you get more money.
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So the independent adjuster,
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we help them because we help them save time
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gathering building code information just like the contractor.
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We help them save money.
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So this is the difference here, we're not,
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we're helping them save money for the insurance company.
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We we also help them remove those headaches so
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that contractor and the adjuster when they're battling,
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there's no longer any of that battle.
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And we help them close their claims really quickly.
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Because if you can do the research ahead of time, you have that solid estimate,
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then your claim is going to close and you can move on to the next job.
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The next group is the staff adjuster.
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So these large insurance carriers say like State Farm for example,
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they have a whole roster of adjusters on their employee list
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and these adjusters say there's a big hailstorm in the midwest,
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they will send out their adjusters to this hailstorm.
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However, if they don't have enough adjusters,
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that's when they pull in those independent adjusters that we just talked about.
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So if they don't have enough staff to cover a certain area,
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they will reach out to an independent adjuster and the
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independent adjuster adjuster will work as a State Farm representative.
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Okay, so now the staff adjuster is a salaried employee.
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They work at their desk for State Farm. That's what they do all day.
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They,
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it's their job to create accuracy for a
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claim and create accurate estimates so that the
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insurance carrier isn't paying too much on a roofing claim or or paying too little.
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It might be okay for them if they pay too
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little because then they're not spending as much money,
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but the insurance carrier doesn't want to over pay for a claim
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and so it's the adjusters responsibility to
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make sure that those claims are accurate
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and those estimates are accurate.
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So we help the staff adjuster save time again on researching building codes.
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We also help them save money for the insurance carrier
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for not over paying for things that aren't required.
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But we also help them stay compliant because if there are things that
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are required for a building code and they have to pay for that,
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then we're keeping them compliant, which means we're keeping them
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truthful.
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Right?
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So we are a source of truth for everybody and it helps
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a lot of different people in a lot of different ways.
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So now let's talk about that insurance carrier.
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So the next level up is the insurance carrier itself. This is our big customer group.
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This would be someone like an insurance executive,
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that's why we call it insurance execs Ivan
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Insurance execs Ivan works for a state farm.
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They work for farmers, they work for nationwide,
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they would be somebody a little bit older, 45-55 years old.
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They probably have a decent amount of education.
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These are the types of people that were going after in order for the whole company for
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a state farm to accept our product and make all of their staff adjusters use it.
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So if we can get contractors using our tool,
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if we can get adjusters using our tool and then they're
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telling their boss insurance execs Ivan that they need the tool,
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then insurance exact Ivan can buy the tool for the whole company.
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So that's how we make a lot of money off of insurance carriers
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as we get them to use the tool for all of their adjusters.
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So insurance exact Ivan is, we help the insurance carriers
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in a lot of different ways
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and some of these terms are really tricky to understand.
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Um, so I implore you to do some research on your own.
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If you're getting a little bit stuck on how we help the insurance carrier, but
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you don't need to worry about it too much
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if you're not in the marketing or sales departments.
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So we help insurance carriers reduce claim leakage. It's such a weird term.
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I know, but claim leakage is really the overpayment or the underpayment of a claim.
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Insurance carriers want to pay exactly how much the roof should cost.
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But if they don't know how much the roof should cost.
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If they're getting different information on building code requirements,
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then they're going to overpay or underpay for a claim.
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So we reduce that claim leakage by giving them
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the exact amount that the roof should cost.
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We help them decrease cycle times,
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which means we help them reduce the amount of time that
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a claim is floating in the air and still negotiation.
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So if the contractor and the adjuster is still negotiating,
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that's a long cycle time.
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If they're not negotiating,
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we can shorten that cycle time and then we can close the claim.
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So the longer that claim is open, the more money it costs the insurance company.
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So if we can shorten that, make it easier, we're helping them out.
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Um we're also helping them increase reserve accuracy.
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So a reserve is the amount of money that the insurance carrier has reserved
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for a claim and if they know how much a claim should cost,
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they know how much to reserve.
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So
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that's a very nuanced. So I'm going to stop there.
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Um the next group of people is distributor Danielle.
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So this is also the same as a manufacturer mike.
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So this is any company, these are companies that we look for partnerships with.
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Um these would be G. A. F. Owens corning. Um this would be S. R. C. Abc supply.
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So these are any company that supplies
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shingles or distributes shingles or roofing materials.
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We partner with this group of people because they have a lot
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of ordering platforms and if people don't know what to order,
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say ice and water shield is required for a project,
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but they don't know that then they didn't order their ice and
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water shield and they're not going to have that for the roof.
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So we can easily work with distributors and manufacturers to
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help them by giving them building code information up front
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and so this is a partnership type of opportunity.
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These aren't people who would actually use the app,
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so that was a lot of information. I know it's a lot.
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So if you have any questions,
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please reach out to any of the team members and we can walk you through it more.
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But the main takeaway is that contractors or roofers, insurance adjusters,
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whether their staff or if they're independent adjusters,
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those are main users of one click code on the application itself
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and then our main customer group who uses the application
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across the entire organization would be an insurance company.
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I hope this helped. I hope this made sense.
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Please reach out if you have any questions. Thanks.