Global data analytics and technology provider Verisk launched XactXpert, a new rules engine in its Xactimate property estimating solution that enables property insurers to automate and speed up the review of property estimates from days to minutes.
By integrating customized claim estimation guidelines into their digital workflows, insurers can use XactXpert to identify and flag any items that may not align with their guidelines in real-time, while the estimate is being written in Xactimate, Verisk explained.
“XactXpert is revolutionizing the process by providing real-time guidance on estimates with speed and consistency. The result is fewer estimate revisions, greater efficiency for insurers and contractors, and faster restorations of properties,” Aaron Brunko, President of Verisk’s Property Estimating Solutions, said.
Insurers can customize their XactXpert guidance and audit with more than 1,000 pre-authored rules in the solution or by requesting new rules from Verisk. XactXpert business rules can be generated and delivered within minutes through Xactimate, Verisk’s powerful solution for property claims estimation.
Estimates from XactXpert can quickly be analyzed through XactAnalysis Insights, Verisk’s self-service claims reporting tool.
Verisk’s property estimating solutions are used by many of the top property insurance companies and repair contractors in the US and Canada.
Verisk’s commitment to invest in research and development and its growing number of integrations with other leading technology providers, help strengthen operating efficiency, improve underwriting and claims outcomes, and reduce inconsistencies in the property restoration and insurance industry, the data analytics and tech provider noted.
