Trilemma, Part 3: Independent Adjusters

“It’s dog-eat-dog out there. I’ve got competitors trying to move in on my carrier accounts. I’ve got inspectors trying to discredit my work so they can refer their buddy. And then I’ve got contractors getting in the way of getting the job done. But I’ve been doing this for 15 years. I’ll tell you what, this new Attestiv app is a gamechanger for my business.” – as told in a recent interaction with an independent adjuster, “hypothetically”, as always. More on this later…

Attestiv is a Plug-N-Play Top 10 Insurtech Companies in 2020 “making promising changes in the industry….[with] …faster and cheaper claims processing, underwriting, and inspections.” We call it the Trilemma –three ubiquitous industry challenges.

Part 1 of this 3-Part series took the point of view of insurance companies and claims fraud. Part 2 focused on the Agency and improving Customer Self-Service especially in the underwriting and application workflow. Part 3 now looks at the claims workflow from the perspective of the independent adjuster. This really is a gamechanger.

Here’s a short video interview with an Independent Adjuster.

Listen to the description of the workflow using the Attestiv Inspect App. As with the Agency Quoting App discussed in Part 2, the Attestiv Inspect App is quite simple and intuitive. The workflow includes ordering the pictures, describe them, PDF them, and email them to the company with reserves, cause-of-loss, and recommendations for necessary contractors to make repairs. That way the insurance company can respond quickly, investigate coverages and endorsements, and get the resolution moving forward for the policyholder. “This takes minutes.”

Note the description of the workflow before using the app: A traditional camera, upload the images to the computer, put the photo’s into individual folders, number them, label them, PDF them, then email them to the company. “The last time I used the App, I took six hours and turned it into 45 minutes. I was able to spend more time with the family. I was able to do more work. My income’s been better since…”

The Technology

What’s the key to all this? Blockchain for tamper-proofing. Artificial Intelligence for workflow automation. And of course, the internet-of-things, in this case, a smartphone, for capturing, editing and transmitting the data between the Independent Adjuster and the Insurance Company. The best things in life are simple, aren’t they?


Who wins? First and foremost, the policyholder wins. Their claim is paid faster, more accurately, and therefore, they’re back in their home or business faster and will less hassle and the corresponding ‘brain damage’ associated with multiple phone calls back and forth, waiting for cash flow, etc.

The Adjuster certainly wins. Converting a 6-HOUR process to a 45-minute process is a MASSIVE change. Now instead of handling 5-10 claims per WEEK, adjusters can handle 5-10 claims per DAY. Independent Adjusters are typically not on retainer. So when you’re paid by the job, the Attestiv Inspect App is going to have a significant impact on the Adjuster’s earnings potential.

Lastly, the Company wins. Getting claims paid faster, with greater accuracy, and lower risk of fraud is a trifecta for the company. This, in turn, helps the Company control loss ratios, have a better reputation with its Agents, and improve customer retention metrics.

As a bonus, as shown in Part 2, the servicing Agency also wins. There’s nothing better than getting a phone call from a policyholder saying, “Hi Chris! Just wanted you to know that I got the check for the hail damage from xyz insurance company today. It’s amazing! The adjuster was just out here a few days ago!”

So a WIN-WIN…WIN-WIN – all from a simple solution that brings together the best of modern technology to solve persistent industry challenges. The future is NOW!

Yes, there is a better way. Since 2018, we’ve been working hard to solve the Trilemma, combining blockchain, artificial intelligence, and API’s. And it’s working.

Meanwhile, we’re always interested in new ideas from the field. So, thanks for sharing.

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Nicos Vekiarides

Nicos Vekiarides

Nicos Vekiarides is the Chief Executive Officer & co-founder of Attestiv. He has spent the past 20+ years in enterprise IT and cloud, as a CEO & entrepreneur, bringing innovative new technologies to market. His previous startup, TwinStrata, an innovative cloud storage company where he pioneered cloud-integrated storage for the enterprise, was acquired by EMC in 2014. Before that, he brought to market the industry’s first storage virtualization appliance for StorageApps, a company later acquired by HP.

Nicos holds 6 technology patents in storage, networking and cloud technology and has published numerous articles on new technologies. Nicos is a partner at Mentors Fund, an early-stage venture fund, a mentor at Founder Institute Boston, where he coaches first-time entrepreneurs, and an advisor to several companies. Nicos holds degrees from MIT and Carnegie Mellon University.

Mark Morley

Mark Morley is the Chief Operating Officer of Attestiv.

He received his formative Data Integrity training at Deloitte. Served as the CFO of Iomega (NYSE), the international manufacturer of Zip storage devices, at the time,  the second fastest-growing public company in the U.S.. He served as the CFO of Encore Computer (NASDAQ) as it grew from Revenue of $2 million to over $200 million. During “Desert Storm”, Mark was required to hold the highest U.S. and NATO clearances.

Mark authored a seminal article on Data Integrity online (Wall Street Journal Online). Additionally, he served as EVP, General Counsel and CFO at Digital Guardian, a high-growth cybersecurity company.

Earlier in his career, he worked at an independent insurance agency, Amica as a claims representative, and was the CEO of the captive insurance subsidiary of a NYSE company.

He obtained Bachelor (Economics) and Doctor of Law degrees from Boston College and is a graduate of Harvard Business School.