Xactware Adds Business Intelligence Module to 360Value
New feature helps insurers leverage data used for property valuation
Xactware has released 360Value® Management Reports, a new business intelligence solution that gives insurers the ability to analyze data used in the replacement-cost estimation process at a highly detailed level. The new module provides decision makers with tremendous insight into the data to enhance business decisions and improve processes from policy quoting to portfolio management.
360Value Management Reports is a module within 360Value, Xactware’s web-based replacement-cost estimator for residential, commercial, and agricultural properties.
“The replacement-cost estimation data analyzed using 360Value Management Reports provides underwriting, sales, and portfolio managers with useful information about company and industry trends,” said Scott Amussen, Xactware’s assistant vice president of 360Value. “Underwriting managers can benchmark replacement values with industry averages. Sales managers can more effectively manage and assess the performance of agents. Portfolio managers can analyze numerous aspects of policies within a book of business including individual property characteristics.”
360Value Management Reports include a custom report builder that lets users analyze property-specific data and replacement-cost estimates in a variety of ways. Results can be viewed at various resolutions from the entire portfolio down to an individual property and can be easily exported for analysis in other applications.
In addition to custom reports, 360Value Management Reports include access to the underlying pricing data used to create 360Value replacement-cost estimates. Easy-to-read reports show current and historical labor and materials costs for more than 460 individual cost regions in the United States. Historical trends can be tracked and local costs can be compared with state and national averages. The Industry Trend Reports can help validate estimates with policyholders.
360Value Management Reports are currently available to all 360Value clients. For more information about 360Value, visit www.360-value.com/.
Xactware Solutions (Xactware) is a Verisk Analytics company that specializes 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, call Xactware at 1-800-424-9228 or contact us online.