LONDON, December 12, 2013 - LV= home insurance has integrated Xactware’s claims-estimating solution, which enables the organisation to shorten the claims journey from first notice of loss to final settlement.
LV= desk adjusters are using Xactware’s estimating solution, Xactimate®, to scope, estimate, and settle property losses from the office. This has enabled LV= to improve claims efficiency and deliver better service to its customers. LV= is also using Xactimate in concert with members of its supply chain.
Through mobile, online, and desktop platforms, Xactware, a Verisk Analytics (Nasdaq:VRSK) company, provides cloud-based solutions for the property insurance and restoration industries.
"We are constantly looking for ways to improve the claims journey for our customers," said Martin Milliner, claims director for LV=. "We put Xactimate through a series of rigorous tests and found it helps our teams settle property claims faster, which results in reduced claims costs. In some cases, our adjusters were able to reduce the claims cycle by a few weeks. With results like this, it was an easy decision to incorporate Xactimate into our claims organisation."
"LV=’s experience illustrates the benefits of outfitting dedicated claims staffs with Xactware technology that helps them work more efficiently," said James Grant, Xactware’s managing director of the United Kingdom and Ireland. "We’re pleased that LV= selected us, and we look forward to providing them with the solutions and resources that meet their claims-handling needs."
LV= employs 5,500 people and serves over five million customers with a range of financial products. We are the UK’s largest friendly society and a leading financial mutual.
When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.
We offer our services direct to consumers, as well as through IFAs and brokers, and through strategic partnerships with organisations such as ASDA, Nationwide Building Society and a range of trades unions.
LVFS is authorised and regulated by the Financial Services Authority, register number 110035. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.
Xactware specialises 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 020 7680 4970 or Xactware.co.uk.
Xactware Managing Director of the U.K.
+44 (0)207 680 4981