Xactware Releases 2006 Property Report
Xactware recently released its 2006 Property Report, which highlights and analyzes industry trends from the past year.
"The 2006 Property Report not only provides insights about what happened in the property industry in 2006, it also helps indicate what to expect in 2007," said Jim Loveland, Xactware president and CEO.
The 2006 Property Report is designed to help professionals in claims, underwriting, mitigation and other trades to better understand market pricing and its causes through statistics and analyses available only from Xactware. The 2006 Property Report features such information as:
- materials that increased or decreased in price and the impact these fluctuations had on claims costs
- the impact of rising fuel costs and which markets were affected the most
- material and labor cost trends, including how the escalating cost of certain materials affected the claims industry as a whole
- detailed reports and analyses, such as claims handling, material costs, labor costs and key material costs
The 2006 Property Report also details other pertinent information relating to the property and insurance industries, including the effects of the 2005 storm season on the industry as a whole. Rebuilding efforts were in full swing in 2006, and many expect the impact of those storms to carry into 2007.
"There is still a lot of work to be done all along the Gulf Coast," said Mike Fulton, Xactware's general manager of Pricing Data Services. "The Property Report gives professionals information about what they can expect throughout 2007 given the work that still needs to be done."
The rising costs of materials also had a major impact in 2006, as the Property Report details. Carpet, which typically experiences a 3 to 5 percent increase annually, rose over 22 percent nationally in 2006 alone, resulting in a significant impact on claims costs, as over 15 percent of all claims involved the replacement of carpet.
For more information or to order the 2006 Property Report, click here. Or call 1-800-424-XACT from 7 a.m. to 5 p.m., MST.
Xactware Solutions, Inc. ("Xactware") is a wholly owned subsidiary of ISO 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.
ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the United States and around the world, ISO's services help customers protect people, property and financial assets.