Claims Estimating Q&A: Trends, Best Practices and Verisk Elevate Preview With Mike Fulton
Ask the Expert
Claims estimating and the software used to facilitate it are critical elements of property restoration. With Verisk Elevate 2022 around the corner, taking place February 15-16 in Salt Lake City and virtually, we invited Mike Fulton, president of Verisk Property Estimating Solutions, formally known as Xactware, to share an event preview.
He also talks trends and innovations in estimating, ongoing areas of interest among contractors like Xactimate pricing, the impact of external forces like inflation on property claims, and an Xactware rebrand uniting independent names.
This episode covers:
- The role Verisk and Xactimate play in the world of restoration
- The history, mission and educational highlights of Verisk Elevate as an event for contractors and insurers
- Notable advancements to Verisk software restoration professionals should know about
- A new pricing specialist program coming soon for restoration contractors to participate in
- Advancements making estimating more efficient including object recognition, shortened floorplan capture, and a new scoping solution for water mitigation
- Predictions for the future of estimating well beyond 2022
- Pricing pressure from inflation as the biggest area of concern heading into 2022
- Integrations with other vendor solutions in a multi-ownership environment where data security is critical
- How pricing works within Xactimate and what goes into published price lists
- Best practices for contractors providing pricing feedback
- How Xactimate accounts for changing materials costs and labor rates
- Following CoreLogic’s acquisition of Next Gear Solutions in 2021, what a more competitive software landscape means for restoration customers of Verisk
- Perspective on how data restorers share within Xactimate is shared and safeguarded
Check out this episode of Ask the Expert to learn more. You can watch the video here or listen to the audio version of our conversation here. You can also find our show on Apple Podcasts and Spotify. Just search for Restoration & Remediation Ask the Expert, then hit Follow.
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