What does the term ‘preferred vendor’ mean to you?

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What does the term ‘preferred vendor’ mean to you?

To most it’s just a term your insurance company mentions when you’re dealing with a disaster at your home or business that needs remediation, but why would they bring it up if it didn’t have meaning?

To become a preferred vendor businesses must:
– meet strict guidelines & standards set by governing body (aka national insurance company)
– go through quite a process of proving their team meets (and exceeds) the guidelines set prior to being approved
– maintain standards throughout every scenario and no matter how many other claims are going on
– meet and exceed timelines, processes and BLANK evaluations regularly (we’re talking weekly not annually) at a corporate level

Why use a preferred vendor over a company you know does the ‘same thing’?
– preferred vendors must meet specific standards, for every part of a claim- they cannot simply do bare minimum (or use industry safety standards as more of a guideline than standard practice) and stay a preferred vendor
– companies can get kicked off preferred vendor lists if they do not meet the set standards, so the level of care is higher as they want to continue to be on the ‘recommended’ list
– usually preferred vendors have higher customer service standards as they take the time to ensure the client is happy and will give a positive review
– they care about the level of workmanship and the quality of care the client receives and want to maintain (or improve) their standard of excellence

Bottom line- becoming a preferred vendor is not for everyone, or every company.

So why is it worth the process? Trust.

Insurance companies have preferred vendor lists so they can quickly and easily recommend companies for their clients to use knowing the quality of work ahead of time.

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