XactNet Reaches 3 Million Estimates Processed

 — January 16, 2003 — 

Xactware, Inc. announced today that its online claims management system, XactNet, has surpassed the 3 million mark for estimates processed. XactNet has been successfully handling claims for property insurance carriers since 1995 and has processed billions of dollars in estimates.

"We are pleased with this great accomplishment," says Jim Loveland, General Manager of the Xactware subsidiary responsible for developing XactNet. "We appreciate all of our loyal customers who have helped us reach this milestone and we look forward now to the 4 million mark and beyond." XactNet has processed more claims and served up more data for the property market than all competing networks combined.

When the company first designed and developed the network claims product back in 1995, many carriers were looking at how they might take advantage of the then burgeoning Internet, but they weren't quite sure what tools would evolve. Xactware envisioned a connected claims environment that quickly became the industry standard for how property claims are processed. XactNet's secure online tools instantly update both sender and receiver in "real-time" for any claim in the system. Carriers can track assignments, collaborate with service providers (contractors, staff adjusters, independent adjusters, etc.), and generate real-time management reports.

"Whether you want to know the average cost of water losses last week in Nashville, or number of roofs replaced in New York, XactNet provides carriers with quick, easy access to this type of information around the clock," says Loveland. This means insurance carriers no longer have to make important claims management decisions in the dark.

About Xactware Inc.

Founded in 1986, Xactware, Inc., is a privately held technology services company (www.Xactware.com), specializing in the property insurance, remodeling, and restoration industries. Xactware's technology tools include software estimating programs for PCs and tablet PCs as well as powerful online systems for replacement cost calculations, estimate tracking, and data trending in real time.