Xactware Releases Contents Collaboration for XactContents
Website promotes collaboration between insurers and policyholders, speeds contents claims cycle
Insurance professionals and policyholders can now work together more easily during the personal property claims process by using Contents Collaboration, the latest innovation in Xactware’s contents estimating solution, XactContents®.
Contents Collaboration is a secure website where policyholders can create personal property inventories, upload merchandise receipts, and add photos of lost or damaged items. The website also facilitates collaboration between insurance carriers, adjusters, and policyholders to expedite the contents claim cycle, enhance the reliability of personal property replacement estimates, and improve the overall claims experience.
“Working with policyholders on contents claims has typically been a labor-intensive process that requires the adjuster to manually track replacement costs, enter receipt amounts, and coach policyholders on how to fill out personal property inventories,” said Ryan Smith, Xactware’s assistant vice president of XactContents. “By moving the experience to an easy-to-use online platform, those challenges are effectively removed.”
Insurance professionals can use Contents Collaboration to handle personal property losses in this way:
- The policyholder notifies his or her insurer following a loss.
- The adjuster creates a new collaboration and e-mails a link to the policyholder.
- The policyholder fills out the personal property inventory, uploads images and documents, and submits the completed forms.
- The adjuster downloads the inventory and prices the items in XactContents.
- If additional information is needed, the adjuster can use the program to follow up with the policyholder.
- Once the inventory is complete, the claim can move on toward settlement.
“With this streamlined workflow, the contents claim cycle can begin immediately following a loss and can be quickly resolved to the satisfaction of everyone involved in the process,” Smith said. “Contents Collaboration is an effective way to help policyholders recover following a loss.”
For more information on Contents Collaboration, visit www.xactware.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.