Xactware Case Study Reveals How Louisiana Citizens Property Insurance Transformed Its Catastrophe Claims Handling after Hurricane Katrina
Insurer uses Xactware solutions to improve response time, consistency, tracking capabilities
METAIRE, La., and LEHI, Utah / ACCESSWIRE / April 15, 2014 / A new Xactware case study reveals how Louisiana Citizens Property Insurance used Xactware's suite of claims solutions to transform its catastrophe claims handling after Hurricane Katrina. Xactware is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK).
As the state's residual market insurer, Louisiana Citizens faced significant claims-handling challenges following Hurricane Katrina in 2005. At that time, independent adjusters were using different claims-estimating systems to handle Louisiana Citizens' catastrophe claims, which did not produce consistent results to the company's satisfaction. In addition, the company had to rely on spreadsheets to track the status of claims, and this proved to be a difficult, time-consuming process.
Louisiana Citizens has successfully resolved its catastrophe response challenges by fully integrating Xactware's suite of solutions, which includes its claims-estimating platform, Xactimate(R), and its claims management and analytical network, XactAnalysis(R). Xactimate is a cloud-based solution for mobile, online, and desktop platforms that helps property and restoration professionals quickly estimate structural repair costs. XactAnalysis enables users to send and receive assignments and easily track the status of claims.
"One of the advantages of working with Xactware has been the ability to acquire multiple plug-and-play solutions to problems that we've had with our claims process," said Quin Netzel, chief claims officer for Louisiana Citizens. "They're all on a common platform. They all work together."
Before using Xactware solutions, Louisiana Citizens had difficulty quickly determining when claims were inspected or when the repair estimates were written and reviewed. Now the company is able to capture all of that information and make it readily accessible to its management team. Xactware's claims-handling solutions also allowed Louisiana Citizens to improve claims performance in the catastrophe environment.
"Using Xactware offerings has enabled us to transform our claims organization," Netzel said. "We're able to get our customers back on their feet as quickly as possible, and we now have a way to quantifiably measure the impact of our adjusting on the company."
Download the Xactware case study to learn more about Louisiana Citizens' experience with Xactimate and XactAnalysis.
About Louisiana Citizens Property Insurance Corporation
Louisiana Citizens Property Insurance Corporation is a non-profit insurance corporation created to provide insurance products for residential and commercial property applicants who are in good faith entitled, but unable, to procure insurance through the voluntary insurance marketplace.
Xactware specializes in technologies for the property insurance, remodeling, restoration, and mortgage and lending industries. Xactware's tools provide claims estimating, contents replacement, claims management, and property maintenance solutions for desktop, mobile, and online platforms. Xactware's services include repair cost research and reports, aerial imagery, and real-time business intelligence. Xactware has been providing cloud services for customers since 1995. Xactware is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK). For more information about Xactware's solutions, contact Xactware at 1-800-424-9228 or Xactware.com.
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