By: Nik Korba
The most successful businesses are often those that identify a gap in the market and then fill that gap with an exceptional product or service. Tiger Adjusters is one of those successful businesses.
As a public adjusting company, Tiger Adjusters provides expert guidance, unwavering advocacy, and peace of mind to insured property owners facing the challenges of property damage and the lengthy insurance claims process. And through its franchising program, Tiger Adjusters opens the doors for other entrepreneurs to join its mission and enjoy its business success.
“Over the last decade, a variety of factors have triggered insurance carrier tactics that disenfranchise the consumer and undercut the coverage they are truly owed,” explains Ted Patestos, CEO and Founder of Tiger Adjusters. “The problems those tactics have created have opened up a market opportunity for those who understand the insurance industry and are willing to advocate for policyholders.”
Patestos is a licensed public adjuster and a seasoned innovator who champions tools and practices that bring greater transparency, efficiency, and value to both consumers and adjusters. His forward-thinking work in developing systems to reduce friction in the claims process empowers Tiger Adjusters franchisees to recover millions of dollars in settlements on behalf of clients across the country.
A Home-Based Business Model For Helping With Insurance Claims
Patestos believes that the trusted business models are those in which fixed expenses stay low. When monthly overhead, cost of acquisition, and ticket prices can be consistently kept low, he says, business owners increase their chances of success.
Tiger Adjusters’ franchisees are allowed to tap into a model that provides high potential and low overhead, where significant capital costs like specialized vehicles or other equipment aren’t necessary. Additionally, most of the business franchisees’ customers come from business-to-business contractor referrals, which keeps customer acquisition costs low.
“We’ve structured Tiger Adjusters to be a home-based business model, which keeps our general overhead extremely low,” Patestos explains. “In addition, business-related costs are typically incurred when our operators are carrying out tasks that make them money, such as filing a volume of claims with insurance companies. That means if business is slow one month, such as during the holidays, the monthly costs needed to operate the business decrease as well.”
Regarding earning potential, the Tiger Adjusters model provides revenue through fees that are a percentage of the gross settlement that claimants receive. “Typically, the settlements tend to be in the tens or hundreds of thousands of dollars,” Patestos reports.
A Business Model That Provides Premier Resources For Success
Public adjusters are insurance claim experts who inspect and document the property damage, compile a damage estimate report, submit the claim to the insurance company, and negotiate the value of the claim for a fair settlement. When homeowners need help assessing damage or dealing with a claim denial, they turn to public adjusters.
With those types of responsibilities, the ideal Tiger Adjusters franchisee would be someone with experience in the insurance industry. But Patestos says such knowledge isn’t necessary due to the exceptional training the company provides.
“You don’t need prior insurance experience to do well at Tiger Adjusters,” Patestos says. “That’s what our system is for: we are here to teach and get you ramped up. What franchisees need to bring is integrity, empathy, and a commitment to serve clients who can’t get the help they need from their insurance provider.”
Tiger Adjuster franchisees get access to over 30 hours of training modules that leverage customized micro-learning tactics and patented training content developed by Patestos and his team. Franchisees also work with a claims coach who serves as a tactical quarterback, providing the guidance needed to turn submitted claims into paid claims.
Tiger Adjusters also places franchisees in cohorts where they can experience hands-on learning and mentoring. Patestos says the cohorts are valuable element of the training, allowing franchisees to work together, build camaraderie, and participate in instructor-led damage assessments.
A Business Model With A Bright Future
Patestos points to several things that have helped his company thrive, including luck and building the right team. But the market gap that public adjusters address is a key element, and one that he says will continue to provide opportunities to franchisees for years to come.
“The demand for public adjusting is likely to continue to increase exponentially,” Patestos says. “There are several macro drivers pushing that reality forward, including an increase in the frequency and severity of weather events, the emergence of insurance tactics that continue to shortchange consumers, and the rise of economic pressures in the consumer space. The landscape leaves policyholders with little choice but to seek out professionals who can help them get what they are entitled to under their policy. Public adjusters have become an essential service business and will continue to be.”
Disclaimer: The information provided in this article is for general informational purposes only and should not be construed as financial or investment advice. The success of any business venture, including franchising opportunities with Tiger Adjusters, depends on various factors, including personal effort, market conditions, and external circumstances. While Tiger Adjusters offers training and support, no guarantees of financial outcomes or earnings are made, and individual results may vary. Potential franchisees should conduct thorough research and consult with financial advisors before making any investment decisions.
