Verisk, the global data analytics and technology provider, has announced the launch of XactXpert, a new rules engine integrated into its Xactimate property estimating solution.
The new tool enables property insurers to automate and accelerate the review of property claims estimates, reducing the time taken from days to minutes.
By incorporating customised claim estimation guidelines into their digital workflows, insurers can use XactXpert to identify and flag any items that may not align with their guidelines in real-time.
This allows for quick adjustments and corrections to be made to estimates as they are being written in Xactimate, helping to ensure speed and consistency.
Verisk’s new tool provides quotes faster and with greater accuracy
President of Verisk’s Property Estimating Solutions, Aaron Brunko (pictured), stated that: “XactXpert is revolutionising the process by providing real-time guidance on estimates with speed and consistency. The result is fewer estimate revisions, greater efficiency for insurers and contractors, and faster restorations of properties.”
Insurers can customise their XactXpert guidance and audit with more than 1,000 pre-authored rules in the solution or by requesting new rules from Verisk. XactXpert business rules can be generated and delivered within minutes through Xactimate, Verisk’s powerful solution for property claims estimation. Estimates from XactXpert can quickly be analysed through XactAnalysis Insights, Verisk’s self-service claims reporting tool.
Verisk’s property estimating solutions are used by many of the top property insurance companies and repair contractors in the US and Canada. The company’s commitment to invest in research and development and its growing number of integrations with other leading technology providers, help strengthen operating efficiency, improve underwriting and claims outcomes, and reduce inconsistencies in the property restoration and insurance industry, the data analytics and tech provider noted.
With the launch of XactXpert, Verisk is paving the way for a new era in property claims estimation review, providing insurers and contractors with the tools they need to deliver faster, more efficient service to customers.
Join Verisk experts in New York at ITI USA
To find out more about Verisk’s latest strategies and innovations, join their panel of experts at Insurtech Insights USA 2023 on June 7th and 8th, at the Javits Center in New York. Verisk’s speakers at the event are:
- James Roche, VP Product Management, Verisk Insurance Solutions
- Jeff Piotrowski, VP, Insurance, Verisk Marketing Solutions
To find out more, click here
