
Tap into the largest and only full-cycle property insurance claims management solution.
Vendor
Verisk
Company Website
XactAnalysis: Property Insurance Claims Management
XactAnalysis® constantly monitors your claims data to help catch errors, report on progress, and benchmark performance to reduce claims costs and increase the precision and speed of settlements.
Effective claims work calls for the right data
A claims manager’s work can be challenging, especially when there’s little insight into what occurs throughout the life of the claims. You need to follow key metrics related to the claims workflow and cycle times, as well as benchmark your performance against the industry to continually improve in the highly competitive landscape.
View and track the entire lifecycle of a claim
Drastically reduce cycle times, saving time and money while increasing customer satisfaction.
Automated claim information
Get claim information at every level, everything from the details of a single flooring item to receiving an alert of all claims over $10,000 in a given region. You can even have the system monitor trends and inform you of price deviations.
Customize to your workflow
Fit XactAnalysis to your needs. Integrate ClaimXperience with your in-house systems and set up rules to alert you to certain events. You can set alerts for individual claims or from monthly reports. You can also tailor the rules for different roles, claims, or trades.
View the entire claims cycle
Get a complete view. Track the progress of any file, manage the approval process, and mark files for follow-up. You can also compare original and corrected estimates and review claims in real time.
Features and capabilities
Instant quality assurance and review
The Review Queue provides automatic management of your QA and re-inspection workflows. Your review teams will have everything they need for a desk audit: digital images, sketched floor plans, and detailed estimate reports.
Bulk assignment import
Quickly create new assignments in bulk rather than one-by-one. Simply download a .csv template from XactAnalysis and populate it with claims data (up to 500 rows per file).
Smart reviews for potential scoping issues
Alert your adjusters of potential issues during the initial estimate—the most effective time to make changes. Electronic audits flag items while network audits that run on each file inform QA teams of any issues, allowing them to make the most of their review time.
Performance scorecard
View performance metrics based on a variety of criteria, such as cycle times, customer satisfaction, and estimate quality. You can generate an overall rating you can use to determine if teams are meeting company standards and where to make improvements.
Secure assignment network
The XactAnalysis Network is a secure extranet with the most advanced encryption available. It lets industry players exchange and manage estimate data in real time, supporting claims data from auto, workers comp, contents, and property lines of insurance.
Benchmark alerts
Set up Benchmark weather alerts to automatically validate whether a reported date of loss corresponds with actual weather events.
Claim view
XactAnalysis lets you link and manage multiple assignments associated with a single claim file, giving you an overview of the activities that occur on each of those assignments.