"While the implications of this acquisition on restoration contractors is not yet fully known, RIA members and constituents have concerns about how their data is being used and how it will impact the future of their business," the statement reads.
CoreLogic acquired Next Gear Solutions on Sept. 15, 2021. Here, Garret Gray, founder and CEO of Next Gear Solutions dives into what this means for restoration contractors.
“Another interesting and pivotal day in the restoration industry,” Springer said. “We've had so many of our members reach out to us today to ask: What is the impact and what is all about this major acquisition that we've heard about in CoreLogic acquiring Next Gear?"
The deal, called "a very major event" by RIA President Mark Springer, combines Next Gear and CoreLogic’s Claims Connect platforms, property data and analytics, and tools for restoration contractors and insurance carriers.
David Dybdahl discusses the insurance picture for restorers’ business insurance over the next 12 months and suggest some adaptations to address impending changes in that risk picture.
It’s been a wild ride in the restoration and insurance business for the past year. Here David Dybdahl recaps the past 12 months, including the actual versus perceived risks of COVID-19.
My hope is that the information in this article will shed some light on what it can cost for a restoration contractor to stay in business and provide the level of service consumers expect after a disaster.
The inability of contractors to cover overhead expenses is one of the key factors why so many restoration companies fail and will continue to do so unless the overhead burden of the company is accurately reflected in their estimate’s markup.