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Xactware to Provide Web-based Home Replacement
Calculator in Conjunction with Quomation Insurance Services
OREM, UT, February 20, 2003 - Xactware, Inc., the leading provider of claims software and services for the insurance repair industry, officially announced an agreement today with Quomation Insurance Services, Inc., the top comparative rating company in Utah. The agreement will allow seamless integration of Xactware's home replacement cost calculator into Quomation I.S.'s web tools for insurance agents.
"We are proud to announce this agreement with Xactware to integrate our rate quoting capabilities with their replacement cost technology," says J.R. Jensen of Quomation I.S. "Now, with the click of the mouse, agents using Quomation I.S. can connect to Xactware's calculation engine and produce accurate cost estimations within minutes, without having to re-enter homeowner information."
Xactware's web-based home valuation tool, XactValue Residential, is used by insurance underwriters, agents, claims managers, and homeowners themselves to determine a given home's actual complete reconstruction cost. This is an important factor when deciding how much insurance to carry on that structure. The program works by building a "virtual model" of the home behind the scenes, including quantities for lumber, concrete, drywall, etc., then applying the appropriate material and labor costs based on the location of the home. Xactware claims that in less than two minutes, the program can generate estimates that produce 90% or greater accuracy on average.
Both Quomation I.S. and Xactware agree that re-entry of homeowner data and the use of disparate systems are problems for agents. The two companies are specifically targeting a solution that will save time by creating a single entry point for all the tools agents need.
"In the past, agents have been forced to access different software tools in different locations to get all the information they needed when quoting," says Eric Loveland, General Manager of the Xactware subsidiary that produces XactValue Residential. "Quomation I.S.'s web-based structure and expertise in agency tools make this a perfect fit for us and the perfect solution for agents. This is an excellent opportunity for us to work together in serving the insurance needs of the Utah market."
For more information on Xactware's agreement with Quomation I.S., contact Xactware today at 1-800-424-9228.
About Xactware, Inc.
Founded in 1986 by current CEO, James B. Loveland, Xactware, Inc. is a privately held company, specializing in serving the needs of a broad customer base, from large insurance carriers and property adjuster organizations to cleaning specialists, restoration contractors, and remodelers. The company's technology tools include software programs for PCs and handheld devices as well as powerful online systems for insure-to-value (ITV) calculations, estimate tracking, and real-time data trending. For more information about Xactware's products and services, contact Xactware at 1-800-424-9228, send an e-mail to xsales@xactware.com, or visit them on the web at www.xactware.com.
About Quomation Insurance Services, Inc.
Quomation Insurance Services, Inc. was founded by J.R. Jensen in Provo, Utah. As an industry leading comparative rater, Quomation I.S. provides agencies in Utah with accurate and easy to use insurance software applications. From the initial auto/home quote to the managing of client data, Quomation I.S. provides a total solution to an agency's needs.
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