Aviva and Verisk Announce Strategic Integration to Boost Property Claims Efficiency in Canada

November 21, 2024 / 2 min read

Verisk’s Xactware suite of products such as Xactimate, XactAnalysis, and XactXpert are designed to help insurers shorten claims cycle times and improve the policyholder experience

JERSEY CITY, N.J., November 21, 2024 —Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, and Aviva Canada, a premier provider of insurance solutions in Canada, announced that Aviva will leverage Verisk's cutting-edge property estimation technology and insights for its claims handling solutions, enhancing accuracy and efficiency in processing for its partners and customers.

The integration of Verisk's industry-leading Xactware suite of products – Xactimate, XactAnalysis, and XactXpert – directly into Aviva’s environment is aimed at optimizing insurers’ internal processes. These tools are designed to:

• Enhance Accuracy and Fairness: XactXpert's real-time rules engine and Xactimate's precise estimation capabilities ensure fair claims settlements, fostering trust and transparency. XactAnalysis's benchmarking and tracking features enable data-driven decisions, optimizing the claims process.

• Boost Efficiency and Productivity: XactXpert's immediate feedback and XactAnalysis's automation streamline operations, reducing delays and disputes. Xactimate accelerates estimation, allowing faster claim settlements.

• Ensure Compliance and Quality: XactXpert maintains regulatory compliance while XactAnalysis provides robust tracking and reporting. This combination ensures high-quality, compliant claims processes across the ecosystem.

“By leveraging these advanced tools, Aviva will be equipped to set a new standard in claims accuracy and reliability,” said Shannon Spackman, Vice President, Property Claims at Aviva Canada. “These tools not only mitigate the frequency of revisions and disputes but they also contribute to a smoother, more reliable customer experience, showcasing a proactive step towards solving pervasive industry issues related to claims management.”

“The claims function is the ultimate customer-facing unit for any insurer,” added Joel Dagenais, chief operating officer for Verisk Property Estimating Solutions. “At Verisk, we are committed to continuously innovating so that our clients and partners can deliver superior service to their customers. We’re proud to support Aviva in delivering exceptional value to its customers and stakeholders.”

Xactware’s suite of products supports professionals in the property insurance, remodeling and restoration industries. These solutions include estimating software programs for PCs and tablet PCs, as well as powerful online systems for replacement-cost calculations, estimate tracking and data trending in real time. Designed for adaptability, these solutions help Verisk clients deliver more accurate local estimates and task assignments for property insurance claims and empower users to achieve maximum efficiency in managing jobs and settling claims.

About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

Amy Ebenstein
Verisk
551-225-0585
amy.ebenstein@verisk.com