In this episode, Rob Beller and Lee Boyd are joined by Michael Balarezo, Founder & CEO of Adjusto, for an in-depth discussion about the complexities and opportunities in contents claims. Michael recounts Adjusto's founding story, rooted in his own experiences both as an adjuster and as a policyholder impacted by catastrophe. The conversation explores how Adjusto's platform was purpose-built with artificial intelligence at its foundation to address longstanding inefficiencies for both policyholders and adjusters. Key themes include the adaptive use of machine learning and data science for multi-format input (written, CSV, and photo data), transparent and fair valuation practices, and integrations that streamline industry workflows. Michael details the patent-pending "FairMatch" system, the importance of personalized service in contents claims, and the role of technology partnerships across the insurance ecosystem.
Key Highlights
- Adjusto was founded to address persistent pain points in contents claims, informed by Michael's background as both an adjuster and a policyholder affected by large-scale property loss.
- The platform is built from the ground up with AI and machine learning, enabling sophisticated handling of written lists, CSV uploads, and photographs for contents documentation.
- Adjusto's architecture enables real-time data processing and transparent interactions for both adjusters and policyholders, simplifying the experience and supporting trust in claim outcomes.
- The FairMatch algorithm—patent-pending—combines expert adjuster logic with data from consumer sources to generate accurate, fair valuations recognized by both insurers and policyholders.
- The solution serves carriers, TPAs, independent adjusting firms, and content specialists, and can be deployed as a standalone tool or integrated into existing claims environments.
- Adjusto integrates with platforms such as Snapsheet, participates in the Guidewire Vanguard Program, and is actively pursuing integration with Verisk marketplace.
- Michael discusses how dissatisfaction with contents claims can lead to policyholder churn, underscoring the need for tailored, data-driven processes in personal property claims.
