Xactware In The News
Xactware Annual Property Report Highlights Most Common Contents Claims — Wednesday, April 13, 2016
Jewelry and watches remain the costliest content claims items, according to the latest Xactware Annual Property Report.
From underwriting to claims, aerial data can speed property workflows — Friday, March 18, 2016
A bird’s-eye view can offer valuable insights. That’s why the property insurers has used aerial imagery for underwriting and catastrophe analysis for decades. Aerial images help carriers underwrite properties remotely, set better reserves, and allocate resources more ...
3 Key Things to Know to Successfully Deploy Contents Inventory Software — Thursday, January 7, 2016
The contents restoration workflow is like a car. When it runs properly, it’s hardly noticed. Only when a component breaks down and disrupts the owner’s daily routine does the car draw attention.
Property Replacement Costs on the Rise: Xactware — Thursday, June 25, 2015
Replacement costs increased by more than five percent between April 2014 and 2015, said Greg Pyne, assistant vice president of Pricing Data Services at Xactware, a Verisk Insurance Solutions company. Pyne outlined the factors that influence reconstruction costs ...
Ethical Guidelines for Remote Sensing Technology — Monday, June 15, 2015
On a rainy morning in January, an unmanned aircraft wobbled erratically over the nation’s capital before coming to ground on the White House lawn. The drone’s surprise landing sent the Secret Service scrambling and spoiled more than one intelligence official’s breakfast. ...
Leveraging Mobile Technology to Improve Contents Restoration Estimating — Thursday, April 9, 2015
Contents losses can be time-consuming and complex, often with an inventory of hundreds—sometimes thousands—of personal property items that each require a replacement cost. And research shows that contents claims are growing in size and complexity. Many contents ...
In Review: The 2015 Xactware User Conference — Friday, February 13, 2015
The 2015 Xactware User Conference took place earlier this week at the Grand America hotel in downtown Salt Lake City. R&R was on hand to take in all the action, as were hundreds of Xactware users.
Here's how a quiet year for catastrophe claims became one of the most expensive ever for insurers — Tuesday, February 10, 2015
Although 2014 was a quiet year for catastrophes overall, severe weather damage from wind, hail, lightning and tornadoes was at the fourth-highest level in history,” said Greg Pyne, Xactware’s assistant vice president of Pricing Data Services in a statement. “The ...
4 ways to leverage aerial data for property claims handling — Tuesday, December 9, 2014
Claims from severe weather such as hailstorms are increasing in frequency and severity, and insurers are taking measures to alleviate the challenges of processing those claims. Aerial data is a key tool that can help insurers reduce inspection times, fight fraud ...
Employees want to volunteer together — Friday, August 15, 2014
For years we’ve been seeing people who want to get involved in their communities. This is especially true in Utah County, which has been recognized numerous times by the Corporation for National and Community Services as an exceptionally giving community. Recently, ...
Leveraging Mobile Floor Plan-Dimensioning Technology — Friday, August 1, 2014
Advanced apps on smart devices equipped with cameras and gyroscopes present a welcome opportunity for estimators to quickly capture room dimensions and draw floor plans from a single device. With this technology, iPhones, iPads, and many Android devices can be ...
USAA Awards Suppliers for Innovation, Veteran Support and More — Friday, July 25, 2014
USAA recognized 11 supplier companies that enable USAA to successfully manage its business processes and deliver exceptional member experiences to its more than 10 million members primarily from the military community and their families. USAA’s Supplier Recognition ...
Claim Ruler Software Announces Integration with Xactware to Enhance Property Claims Management and Claims Analytics — Thursday, May 29, 2014
Claim Ruler TM software from IT Strategies Group has announced that its cutting-edge property and casualty claims management software for the insurance adjusting industry is now available with built-in bidirectional data transfer compatibility with Xactimate for claims ...
Contents Inventory Systems — Monday, May 19, 2014
Successful contents restoration depends heavily on the pack-out. An orderly pack-out paves the way for an efficient restoration workflow, and a disorderly one results in wasted time and eroded profit margins. Contents inventory software can help expedite ...
Xactware celebrates new Lehi headquarters with a bang — Friday, May 16, 2014
Twenty confetti cannons shot metallic blue and silver streamers into the sky simultaneously as 50 homing pigeons flew into the air, capping Xactware’s inaugural ceremony for its new corporate headquarters.
Analytics in Action: Georgia Farm Bureau — Friday, March 28, 2014
To improve customer satisfaction, accuracy and cycle time for weather-related claims, the insurer integrated Verisk’s data and analytics capabilities into its estimating application.
Aerial Imaging Advancements Translate into Better Roof Claims Handling — Thursday, February 27, 2014
Roof damage is one of the most time-consuming and complicated types of losses to handle, and studies show that these losses account for 30 percent of all homeowners’ claims in the U.S. over the past five years. Traditional inspection methods, which include a tape measure ...
Stock Price Movements, Recognitions, Collaborations, and Scheduled Presentations - Research Report on Priceline.com, athenahealth, Verisk Analytics, Vantiv, and MAXIMUS — Wednesday, December 4, 2013
Today, Analysts' Corner announced new research reports highlighting Priceline.com Inc. (NASDAQ: PCLN), athenahealth, Inc. (NASDAQ: ATHN), Verisk Analytics, Inc. (NASDAQ: VRSK), Vantiv Inc. (NYSE: VNTV), and MAXIMUS, Inc. (NYSE: MMS). Today's readers may access these ...
Transforming Property Claims Handling — Friday, October 18, 2013
The rising number of claims resulting from hailstorm damage over the past two years makes a strong case for reexamining the way insurers process roof claims. Through the proper application of aerial data, insurers can transform property claims handling and distinguish ...
Verisk Analytics Forms Verisk Climate Division — Wednesday, October 2, 2013
Verisk Analytics (Nasdaq:VRSK), a leading source of information about risk, has formed Verisk Climate. Verisk created the division to respond to customers’ needs for new solutions to manage enterprise climate and environmental risks, increase service to their ...
Aerial Roof Measurements: A Roofing Contractor’s Competitive Advantage — Tuesday, October 1, 2013
In recent years, roof measurements based on aerial imagery have revolutionized the way many restoration contractors work by eliminating some of the pains involved with measuring and estimating roof repairs. It’s also given early adopters an edge over competitors when ...
Xactware Cares About Community — Friday, September 20, 2013
Over 1400 volunteers from 27 companies and organizations completed numerous community service projects all over Utah County. The South Franklin Community Center was fortunate to have a group of extremely talented employees ...
Weathering the Storm: Responding to the Big One — Thursday, September 5, 2013
Aerial images of a neighborhood in Moore, Okla., before and after the May, 20, 2013, tornado. Xactware captured the post-storm images to provide insurance and restoration professionals with an efficient way to view before and after comparisons of structures, as well as ...
Late-Breaking Aerial Data Capabilities Offer New Approach to Property Claims Handling — Monday, August 19, 2013
A recent analysis by Xactware reveals that its claims assignment and management network processed more than 1.8 million estimates for roof repairs in 2012 — roughly 34 percent of the total number of estimates received for the year.
Weather-related catastrophes important reminder to review home insurance coverage — Saturday, June 8, 2013
Tornadoes have ravaged sections of Oklahoma and Texas, and wildfires have caused massive damage out West this year. Rutherford County has seen its share of flooding and tornadoes in recent years.
Louisiana Citizens Property Prepares for 2013 Hurricane Season — Thursday, June 6, 2013
Louisiana Citizens says its claims operation has been restructured by the hiring of additional internal claims adjusting staff, and the engaging of Worley Catastrophe, a catastrophe response firm with the ability to handle more than 50,000 claims.
X MEN — Monday, March 11, 2013
Meet Xactware - A Business Built On Integrity And Loveland Utah Valley is known for its James Lovelands. Namely, the Orem-raised father and son who have shared a moniker, a passion for problem solving, and a company - the ever-robust Xactware.
Enhancing Efficiency and Quality in Claims Estimating — Monday, October 15, 2012
In today’s fast-paced, competitive world companies feel pressure to get the job done right and done quickly. Nowhere is this more evident than in the property industry, where adjusters strive to quickly handle assignments and exert better control over the claims ...
Behold the Power of Mobile Technology — Tuesday, May 1, 2012
Improved mobile technology is providing restoration and remediation professionals with important new tools that are changing the way many companies manage files and estimate damages.
Eye on the Storm: Reviewing 2011 Catastrophe Activity — Tuesday, April 10, 2012
Industry trends following last year’s record-breaking storm activity underscore the value of using current, actionable data to monitor market changes and make important decisions that produce better outcomes for insurers and their customers.
Man Learns House is a Loss — Wednesday, March 28, 2012
Jill Gosche Advertiser Tribune June 28,2007 An outside source told John Panuto what he said he didn't want to hear: His home is a loss. "I didn't really know what to expect," Panuto said. "When you (hear) total loss, it overwhelms you." Panuto ...
National average reconstruction costs increase by 1.51% in 2011 — Friday, February 10, 2012
The national average for reconstruction costs grew by 1.51% in 2011, according to Xactware's 2011 Property Report for Canada. The increase in the overall cost to rebuild was related to a rise in the average cost of building and installation labour rates, the report ...
Xactware Wins Business of The Year Award — Friday, October 28, 2011
During [Jim Loveland's] tenure as president and CEO, Xactware has nearly quadrupled revenues, expanded business operations into several international markets, broadened Xactware's customer base into new vertical markets, joined the Verisk Analytics family of companies. ...
James T. Evans named Orem mayor — Monday, October 24, 2011
Former City Council member James T. Evans was chosen Monday to fill the remaining two years of Mayor Jerry Washburn's term and is scheduled to be sworn into office Tuesday.
Handheld Device Speeds Restoration Process During Catastrophes — Wednesday, October 19, 2011
The day after Hurricane Irene hit, global recovery firm ServiceMaster's call center averaged 1,100 calls a day but despite the heavy call load, the company was able to respond in a timely fashion – always important with water damage – thanks to a new handheld device.
United Way's 'Day of Caring' project unites at BYU — Thursday, September 8, 2011
LaVell Edwards Stadium hosted approximately 1,200 people who came together Thursday morning for the annual Day of Caring service project.
Software Streamlines the Workflow — Thursday, September 1, 2011
Job estimates and change orders are two of the most common business areas where remodelers can lose time and money.
Aerial Measuring Helped State Farm Through CAT-Heavy Spring — Thursday, June 30, 2011
For our claims digital issue, I reached out to a number of insurance companies to ask how technology enabled their responses the major catastrophes that dominated the first part of the year.
Test Your Claims Knowledge: Three Strategies for Improving Contents Estimating (Part 3) — Wednesday, June 8, 2011
The following article originally appeared in PLRB's Front Lines newsletter. Estimating the cost to replace lost, stolen, or damaged personal property has often required estimators to spend ...
Catastrophe Risk Management at the Point of Underwriting — Wednesday, June 1, 2011
Technology has advanced to the point where an individual risk can be analyzed as part of an automated underwriting process. Furthermore, insurers can minimize the impact on the current underwriting workflow by capturing the data required for sound catastrophe risk ...
Test Your Claims Knowledge: Four Key Xactimate Tools for Multi-Dwelling Loss Estimation (Part 2) — Wednesday, May 25, 2011
The following article originally appeared in PLRB's Front Lines newsletter. The Xactimate estimating system contains several powerful tools that can significantly enhance the speed of estimating large ...
Test Your Claims Knowledge: Using Aerial Imagery and Xactimate to Estimate Complex Roofs (Part 1) — Wednesday, May 11, 2011
The following article originally appeared in PLRB's Front Lines newsletter. Note: This is the first in a series of Test Your Claim Knowledge feature articles that highlight various building damage estimating ...
Fire cleanup companies angry Guard won't recognize pricing system — Wednesday, October 6, 2010
In recent days, a dispute flared up between some contractors and the Utah National Guard over cleanup of the Herriman fire. The companies say they're being unfairly portrayed as dishonest price-gougers when all they're doing is following a nationally-accepted system.
Enhancing Efficiency, Reliability In Small Claim Handling — Friday, October 1, 2010
Developing a claims approach for desk adjusters and call center staff that focuses on handling small or simple property losses efficiently, reliably, and consistently is supremely important for insurance professionals working to control operating costs, reduce cycle ...
Mitigating Probabilistic Risks in Property Insurance — Monday, May 24, 2010
Actionable data plays an essential role as policyholders choose the right amount of coverage to protect their homes in the event of a disaster. In today’s tumultuous housing market, current, reliable information is more invaluable than ever as property insurers work to ...
Millennium Information Services Offers 360Value for Replacement Cost Estimates — Thursday, December 10, 2009
Millennium Information Services, Inc., the insurance industry’s premier provider of property inspection services, has fully integrated 360Value with Millennium’s Automated Property System (MAPS) platform to provide replacement cost estimates. 360Value is a web-based ...
Xactimate Estimating Software Adds Botanical Antimicrobial Line — Wednesday, July 15, 2009
Now, by using code WTR>GRMB, an extra 2-3 cents per square foot (varies by region) is added to the quote for using the Botanical Antimicrobial. This allows an additional compensation of $20-$30 per gallon (covers approximately 1000 sq/feet). Contractors are able to ...
Keep Up With Your Homeowner's Insurance — Sunday, June 7, 2009
One item to look up is what the insurance company will pay to cover your loss. In most policies, this is known as the replacement cost. It's what it would cost to build a similar house on your lot. The replacement value doesn't include the value of the land. It's ...
Data Mining: Essential for Exposing Fraud — Friday, May 1, 2009
Insurers are continually locked in a balancing act between ferreting out fraudulent claims and paying out legitimate claims in a timely manner.
Cost Of Rebuilding Damaged Homes Rising, Study Finds — Friday, April 3, 2009
The cost to rebuild a damaged home went up approximately 3.95 percent nationwide last year even as real estate prices were declining, according to a study by a technology firm.
Rebuilding costs can affect homeowners' coverage — Monday, March 30, 2009
According to a new study by Xactware, a Utah company that keeps up with housing and repair costs, to rebuild a damaged home went up 3.95 percent nationwide...
High Fuel Prices Drives up Construction Costs — Tuesday, March 10, 2009
The overall cost of replacing a damaged home in the United States increased last year thanks in large part to rising fuel costs, according to Xactware’s Property Report 08.
Pioneer State Mutual Implements 360Value for Estimating Replacement Costs — Wednesday, March 4, 2009
Solution developed by ISO subsidiaries Xactware and AIR Worldwide utilizes building-cost data available in widely used Xactware system.
The Evolving Impact of Green Building — Saturday, November 1, 2008
Consumers looking to build or remodel are finding more and more reasons to go green. New legislation provides incentives for green building, and some property insurers are offering discounts for green buildings or providing coverage that helps owners upgrade to green ...
Using an Assignment Network and Real-Time Analytics to Manage Catastrophes — Friday, August 1, 2008
Add soaring fuel costs, problems in the financial market, and an uncertain economy to the host of new challenges that property claims managers face when a catastrophe strikes. Each catastrophe creates its own claims-handling challenges and often has a unique impact on ...
Orem Software Company Eases Flood Woes — Tuesday, March 4, 2008
Not only does this computer program compute how much drywall would be needed for repairs to a waterlogged basement, but it will quickly calculate the area's going rate for drywall, plus nails and carpet.
ILX Construction Training — Saturday, September 1, 2007
Concrete flatwork, roof trusses, walls and ceiling finishes are some of the topics covered in CD and online courses from ILX Construction Training, a product of Xactware Solutions, Orem, Utah.
Man Learns House is a Loss — Thursday, June 28, 2007
"I didn't really know what to expect," Panuto said. "When you (hear) total loss, it overwhelms you." Panuto led James Stewart, an independent insurance adjuster for GAB Robins, and Rick Bell, project manager for Disaster Masters in Bellevue, through the burned house to ...
Homeowner Claims: Increase Your Payouts — Tuesday, February 13, 2007
An insurance company that wants to hold down payout costs has several ways to do that. One involves the software designed to help assess financial damages.
The Worst Storm in a Decade Brings Widespread Destruction and Tests Insurers' Resources — Thursday, February 1, 2007
An unusually mild Atlantic hurricane season was a source of relief for both Southeastern residents and the P&C industry. But almost as if in retribution, a quick succession of winter storms brought catastrophe to the Pacific Northwest. The greatest impact was felt ...
MetLife Auto & Home Taps Xactware — Wednesday, August 2, 2006
In an effort to speed claims turnaround, Warwick, Rhode Island-based MetLife Auto & Home has chosen Xactware's Xactimate and XactAnalysis estimation software to simplify communication between the carrier's field staff and claims office.
GAB Robins Adds Xactimate Software to its Portfolio of Services — Monday, July 31, 2006
PARSIPPANY, N.J., July 31 — GAB Robins North America, Inc., a leader in providing global risk management services, announced today that it has added the Xactimate residential and commercial property-estimating package to its suite of loss adjusting tools in the United ...