OREM, Utah-October 10, 2008 – Insurance professionals and repair experts hard at work in the aftermath of Hurricane Ike helped complete a surge of estimates that recently pushed the XactAnalysis claims management network over the 15 million estimate milestone. “One measure of the excellent service our customers give policyholders is the immediate surge of assignments and completed estimates that began to flow through the XactAnalysis network soon after Ike came ashore,” said Jim Loveland, Xactware’s president and CEO.
XactAnalysis allows claims managers to immediately assign catastrophe claims to professionals and to receive electronic copies of estimates in return�complete with floor plans, photos, notes, and even audio files. XactAnalysis tracks progress and alerts managers if service standards are not being met. The system also helps multiple professionals collaborate on the same claim.
XactAnalysis is designed to handle a surge in claims and transactions in the aftermath of a catastrophe such as Hurricane Ike without downtime or delays. Activity on the XactAnalysis network began to climb immediately as Ike continued to do damage inland. Less than two weeks after Ike made landfall, XactAnalysis recorded one-day page hits in excess of one million, shattering the pre-storm record for daily page hits by more than 30 percent.
“Hurricane Ike further highlights the unprecedented workflow efficiency of our customers,” said K.C. Agrelius, Xactware’s General Manager over XactAnalysis. “Catastrophe experts from all over the country deployed to damaged areas and immediately began to receive electronic assignments and write estimates.”
XactAnalysis is the industry’s first and largest property claims assignment network. After its inception in 1995 it took 11 years for XactAnalysis to process its 10 millionth claims’ estimate in the spring of 2006. Just over two years later, the network processed its 15 millionth full-cycle estimate. As of late September 2008, XactAnalysis had processed over 15.1 million estimates with a total dollar value of more than $90.2 billion.
The XactAnalysis network ensures the safety of the data it stores with two state-of-the-art data centers. The primary data center is located in the heart of the mountain west and the secondary data center is located on the east coast. The two geographically disparate data centers provide a highly secure backup should one of the centers be involved in an unthinkable disaster.
“Xactware products in the hands of committed professionals are making a difference for policyholders working to rebuild after all types of catastrophes,” said Loveland. “We’re proud to be part of the excellent service our customers are providing victims of Hurricane Ike and other tragedies.”
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 www.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.