Verisk Unveils New Vai-Powered App to Help Streamline Contents Removal Workflows After a Loss
September 15 2020 - 4:00AM
Verisk (Nasdaq:VRSK), a leading data analytics provider, has
released ContentsTrack™, a solution for online and mobile platforms
that uses Verisk artificial intelligence and automation (Vai™) to
help contents removal specialists quickly identify, catalogue, and
track contents that need to be stored, cleaned, or replaced after a
loss.
During the contents reinstatement process, restorers must
document and track hundreds, or potentially thousands, of household
items. The Vai technology in ContentsTrack uses image-detection
artificial intelligence known as Object Recognition to help
restorers significantly speed up their contents inventorying
workflows.
“Most contents removal specialists use pen and paper to
inventory personal property at the loss site and then have to type
all that data into their systems later at the office,” said Joe
Pendle, Verisk’s managing director of the U.K. and Europe.
“ContentsTrack can help restorers eliminate unnecessary duplicate
data entry and shave hours off their workflows by letting them
capture all the information they need at the loss site with their
mobile devices.”
To create a contents inventory, restorers point their smart
device camera at an item. The object-recognition technology in
ContentsTrack instantly identifies the item, enters a description,
and lets the restorer mark the item for cleaning, reinstatement, or
storage—all within a matter of seconds. Once the contents inventory
has been created, restorers can use the app to track personal
contents items until they are returned to the policyholder,
allowing for a complete and accurate chain of custody.
Restorers can also add photos, notes, and voice recordings to
individual line items to provide more thorough loss details. Data
captured in ContentsTrack can be synced with Verisk’s structural
estimating solution, Xactimate®, and its policyholder self-serve
solution, ClaimXperience®, saving time and eliminating duplicate
data entry when estimating contents reinstatement costs.
“Early adopters of ContentsTrack have reported tremendous
savings in labour costs and much higher productivity,” said Ben
Blain, Verisk’s head of property claims. “It can eliminate or
simplify many tedious steps in the removal and reinstatement
processes so restorers can devote more focus to restoring
policyholders’ most treasured possessions.”
To receive a demonstration of ContentsTrack, call 00 44 20 7680
4970. For more information about ContentsTrack, visit
Xactware.com.
ABOUT VERISK
Verisk (Nasdaq:VRSK) is a leading data analytics provider
serving customers in insurance, energy and specialized markets, and
financial services. Using advanced technologies to collect and
analyze billions of records, Verisk draws on unique data assets and
deep domain expertise to provide first-to-market innovations that
are integrated into customer workflows. Verisk offers predictive
analytics and decision support solutions to customers in rating,
underwriting, claims, catastrophe and weather risk, global risk
analytics, natural resources intelligence, economic forecasting,
and many other fields. Around the world, Verisk helps customers
protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30
countries and is a member of Standard & Poor’s S&P 500®
Index and the Nasdaq 100 Index. For more information, please visit
www.verisk.com.
For media information, please contact:
Helen Christopher+44 203 764 0367hchristopher@verisk.com
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