Xactware Helps Its Customers Go Green

Company saves 72 trees a day by reducing paper waste with its industry-leading software

OREM, Utah – Apr. 22, 2010 – Businesses buzz about “going green” these days. But at Xactware, helping businesses reduce paper consumption with its industry-leading software solutions has been the norm since the company’s start in 1986.

Eliminating waste from the claims process adds up, according to a recent Xactware analysis. The company processes thousands of estimates per day which represent an average of more than 500,000 transactions. With its streamlined electronic claims process, Xactware estimates its clients saved more than 204 million sheets of paper in 2009 alone – a savings of 72 trees per day, or more than 26,000 trees each year.*

“Helping businesses go paperless is nothing new at Xactware, but seeing the numbers attached to the paper savings was an eye-opener,” said KC Agrelius, assistant vice president of XactAnalysis, Xactware’s real-time claims and reporting software. “It strengthens our commitment to help the property insurance industry switch to electronic claims processes. Those claim-by-claim savings really do add up.”

Xactware’s industry-leading estimation and analytics software tools, Xactimate®, XactAnalysis® and XactContents®, enable insurance industry professionals to digitize the claims process. Xactimate and XactContents allow users to estimate losses digitally. XactAnalysis, a powerful assignment and analytics network, allows users to collaborate and manage claims electronically. Combined, Xactware’s software solutions streamline what can be a paper-intensive process.

Trees aren’t the only things conserved by switching to electronic claims processing with Xactware’s software. By eliminating the use of more than 204 million sheets of paper each year, Xactware also**:

  • keeps more than 30,500 million BTUs of energy from being expended – the equivalent of the annual energy used by 336 homes
  • prevents more than 6 million pounds of greenhouse gases such as carbon dioxide from being emitted – which is comparable to almost 550 cars off the road each year
  • conserves more than 22.6 million gallons of wastewater from being generated in paper production – an amount that would fill 34 Olympic-sized swimming pools
  • eliminates more than 1.9 million pounds of solid waste – the equivalent of 70 fully loaded garbage trucks

For more information about Xactware’s eco-friendly software products, visit www.xactware.com.

* The number of trees saved was calculated by multiplying the total number of electronic claims, electronic payments and electronic remittance advice transactions per year by the number of sheets of paper each manual transaction type consumes. A conservative assumption was made that each manual transaction type consumed one sheet of paper. The total number of sheets saved divided by the number of sheets of paper an average tree produces gives the total number of trees saved as a result of the electronic transactions being processed.

** Calculations were based on figures from the Environmental Defense Fund’s Paper Calculator, using the equation 200,000 sheets of paper equal 1 ton as a baseline. According to the EDF calculator, 204,283,200 sheets of paper, or 1,021.416 tons of paper, cause the use of 3,775 tons of wood (equal to 26,426 trees), 30,535 million BTUs of energy (equal to the annual energy needs of 336 homes), 6,008,100 pounds of greenhouse gases (equal to the annual emissions of 546 cars), 22,694,699 gallons of wastewater (enough to fill 34 Olympic-sized swimming pools) and 1,949,589 pounds of solid waste (which would fill 70 garbage trucks).

About Xactware

Xactware Solutions, Inc. (Xactware) is a wholly owned subsidiary of Verisk Analytics 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. www.xactware.com.