DigsFact Integrates with Verisk’s Claims Estimation Software

DigsFact’s AI and computer vision-based proprietary technology can accelerate the claims process, multiply the adjuster’s productivity and reduce expense by up to 90 percent.

(Image source: DigsFact homepage.)

DigsFact Inc (Crystal Lake, Ill.), a SaaS product designed to accelerate the estimation of property claims, repair and renovation projects, has announced a new integration with Verisk (Jersey City, N.J.), a global data analytics and technology provider. Adjusters using DigsFact can quickly initiate a DigsFact project from within Verisk’s XactAnalysis and Xactimate products, allowing adjusters and contractors to improve collaboration and shorten claims cycle times, enhancing the policyholder experience, according to a DigsFact statment.

DigsFact explains its value proposition by noting that, when a property claim is filed, a claims representative travels to the claims site to assess the damage and estimate the repair costs. Onsite activities, including evaluating the structure, collecting detailed measurements, itemizing materials, and documenting any damage or risks are time-consuming and costly, the vendor notes. “Billions of dollars of work in the built-environment economy are held up by property assessments that require in-person visits, the DigsFact statement continues. “Delays can also be challenging for the policyholder, as they are waiting for the estimate to be ready and repair work to begin.”

Nishant Tomar, Chairman and CEO, DigsFact.

DigsFact says its new integrations into Verisk’s products can help to speed up the process, making it easy to launch software to allow the capture of an image that can encompass an entire damage area. From there, DigsFact generates a measure-ready photo in real-time for the desk adjuster to provide on-demand measurements. This gives industry professionals access to all the data they need to estimate the repairs associated with a claim from just a few photos uploaded by the claims professional, or even the policyholder, the vendor says.

For contractors who currently use Verisk’s Xactimate to estimate home repair and renovation jobs, DigsFact’s efficiencies can allow them to provide more quotes per day, the vendor asserts. DigsFact says contractors can estimate projects remotely in minutes, from photos taken by the homeowner, in real-time. DigsFact says its integration with Verisk also allows contractors to have an interactive and guided LIVE video session with the homeowners, if needed. The contractor can guide the homeowner on the appropriate photos to take and get the measurements, materials, and other information from those photos in real-time.

Improved Adjuster Productivity, Reduced Expense

“We have received requests from multiple P&C carriers regarding the integration and availability of our product from within XactAnalysis or Xactimate,” comments Nishant Tomar, Chairman and CEO, DigsFact. “Our AI and computer vision-based proprietary technology can accelerate the claims process and improve the adjuster’s productivity by 300 percent and will reduce the adjustment expense by 60–90 percent. For the contractors in the home repair and renovation industry, this means more revenue, as they can offer more quotes per day to potential customers.”

Aaron Brunko, SVP,  Property Estimating Solutions, Verisk.

For adjusters or contractors who need to visit the site in person for claims, repair or renovation projects, DigsFact’s “GotSnap” mobile app is an easy tool for them to take measurements or create sketches in seconds and store them as digital record for any measurements that may be needed even after they leave the site, or for audit purposes, according to the vendor.

“We strive to deliver technology-driven solutions that help insurers respond to their customers as expeditiously and accurately as possible at the moment a loss is reported,” comments Aaron Brunko, president for property estimating solutions, Verisk. “Working with ecosystem partners including DigsFact becomes more critical as insurers seek solutions to improve the policyholder experience, reduce cycle times and leverage newer technology to help accelerate the recovery process and keep business moving forward.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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