New Online Tool Allows Underwriters and Homeowners to Collaborate on Replacement Cost Coverage
Xactware, Inc. announced a new collaboration tool today that allows homeowners to review and approve their insurance to value calculations. This new tool, XactInfo, is a first-of-its-kind offering for the property insurance market. Launched Monday, July 11, 2005, the new features include the ability for existing XactValue customers to automatically link into XactInfo for homeowner review and approval.
Eric Loveland, Sr. Vice President at Xactware states, "With the responsibility for proper coverage amounts being placed on the homeowner, better communication tools will give homeowners the ability to be more actively involved in determining the amount of coverage they need. XactValue has already proven to be very accurate and is rapidly improving the underinsurance challenge that existed before its release. The last remaining hurdle is including homeowners to make sure the right information is entered. XactInfo ensures that the information is entered correctly and allows everyone to agree on the proper ITV coverage for a home. As a side benefit, homeowners can continue to use the product over time to report home improvements, remodels, and additions that will affect ITV amounts in the future."
According to Xactware, XactInfo is the first homeowner collaboration tool that will automatically set up a personalized website for each homeowner and display a copy of the information recorded about the home during the initial valuation such as total square footage, features, and finishes. Homeowners can use the site to directly communicate with insurance agents and other interested parties regarding approval of existing information and to provide updates as needed.
"This is a win-win situation for both homeowners and insurance companies," says Loveland. "With home information presented to both parties in a way that makes communication easy, XactInfo provides a powerful solution to combat the underinsurance problem the industry has faced for many years."
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.
For more information about Xactware's products and services, contact Xactware at 1-800-424-9228 or contact us online.