Orem, UT and Jacksonville, FL – May 6, 2008 – Xactware Solutions, Inc. and Loss Technology Services, Inc. announced a new compatibility between Xactware tools and Loss Technology Services� water mitigation modeling program. The combined tools provide an important new water-mitigation solution for insurance repair and restoration professionals.
Loss Technology Service�s water mitigation modeling program, Water Event Manager, is now compatible with the pricing research used in Xactware�s industry-leading estimating software, Xactimate, and its online claims management network, XactAnalysis. This compatibility helps ensure accurate and reasonable water mitigation services on each claim.
Water Event Manager is an online tool that utilizes sophisticated algorithms based on industry standards and drying science. This qualitative analysis integrates with Xactware software to provide real-time project scope and projected pricing for water loss claims.
“It is with great pleasure that we announce the compatibility between Xactware and Loss Technology Services. Using Xactware tools with LTS�s Water Event Manager will truly revolutionize how property loss claims are processed. Our users will benefit from objective, real-time validation of water loss services that result in appropriate claims cycle time and costs,� said Christopher H. Uhland, Loss Technology Services� CEO.
Uhland says that the demand for verification of property repair services is significantly increasing as insurers attempt to reduce Severity and Loss Adjustment Expense and contractors search for innovative ways to differentiate themselves in a crowded market. Water Event Manager meets both parties� needs by providing scientific verification of project scope and administration along with respected pricing research from Xactware.
�Water Event Manager�s compatibility with Xactware products and pricing research gives repair professionals quick access to information that helps manage and successfully mitigate water damage,� said Rick Johnson, Director, Strategic Alliances for Xactware.
Water Event Manager will be available for purchase on May 29, 2008. For more information on Water Event Manager, please visit www.losstechnologyservices.com/may29.
About Loss Technology Services
Loss Technology Services, Inc. is an independent software solutions company serving both the professional insurance and the contracting industry. Its mission is to assess losses and verify correct procedures in an effort to enhance communication and technical proficiency between all parties to the loss.
For more information regarding Loss Technology Services and Water Event Manager, please contact us at 1-888-521-4679, 904-525-3343 or visit us at www.losstechnologyservices.com/may29.
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 visit Xactware.com.
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets. For more information, visit www.iso.com.