Sometimes you may need to increase all Simsol pricing by a percentage - whether it just be by 10-15% to reflect a particular claim or if you're needing to work a catastrophe where pricing is inevitably going to need to be higher.
Updates & Recommendations
For a catastrophe situation, we highly recommend considering the National Construction Estimator's (NCE), where Simsol sources it's pricing from, suggests increasing pricing anywhere from 25-50%.
From their 2020 Book:
"Add 25% to 50% for work done following a major flood, fire, earthquake, hurricane, tornado while skilled tradesmen are not readily available. Material costs may also be higher after a major disaster.”
|COVID & 2020 Disaster Recommendations:|
Simsol's Pricing Team has been closely monitoring fluctuations in regions affected by the recent disasters. These include hurricanes, tornados, floods, and fires. The data collected reveals pricing on materials has increased and decreased in various areas around the nation. The most affected regions are experiencing labor shortages, which is having a significant effect on construction costs. In addition to these disasters, the impact of COVID-19 shutdowns is causing up and down spikes in certain regions on both materials pricing and labor productivity rates.
Based on these findings, we advise adjusters using Simsol's Complete Building Repair Registry to adjust their pricing accordingly. Material and Labor pricing may need to be increased from 15% to 30%, depending on the specific area; this includes subcontractor mark-up. We recommend that any increases to the Labor and Material factors be reviewed and approved by your claims management team before applying the changes to your estimates.
So how do I increase Simsol's Pricing?
We suggest utilizing our Location Mark-Up Factor Feature. To turn this feature on, navigate to your Claims Grid, and select the 'Maintain' Tab. Under 'Maintain' you'll find 'Preferences'.
In the window that appears, you'll find an option for 'Enable Location Factor Mark-Up'. You'll want to make sure this box is checked.
Select 'Done' to save your preferences. You will now have the option to mark-up pricing on your drawers or your individual claims.
To Mark-Up Pricing on Drawers:
Navigate to your claim grid. Right-click on the drawer you would like to change and select 'Drawer Properties.'
In here you'll be able to select the 'Building Factors' button for the Building Estimate.
You'll want first to have the correct zip code for the claims you'll be working on entered. You'll then see a column to your right labeled 'Mark-Up.' Enter the correct percentage of increase here.
Please keep in mind - changes to drawer properties will not reflect retro-actively. You want to be sure to set these drawer preferences before writing your claims.
To Mark-Up Pricing on Claims:
Open the claim you would like to increase the pricing on. Select 'Building Estimate' in your Claim Enclosure Tree.
Select the 'Location' button to open your Location Factors:
With the correct zip code entered, you can then add the Mark-Up in the appropriate column.
Your pricing will now be increased by the percentage given. This method is retroactive so any changes made will reflect your already-entered claim totals for this claim.