Louisiana Insurance Guaranty Association Tabs Verisk for Streamline Claims Handling

August 4, 2022

The Louisiana Insurance Guaranty Association (LIGA) announced it is is streamlining its handling of claims for policyholders of insolvent insurers with advanced property estimating technology from Verisk.

LIGA is using Verisk’s Xactware┬« property claims-handling solutions, including Xactimate┬« and XactAnalysis┬«, to swiftly assign claims to independent adjusting firms, improve communication with its claims vendors and monitor claims in progress. LIGA is a private association of insurance companies established by Louisiana law to provide benefits to the policyholders and claimants of insolvent insurers.

Major storms in the past two years have created significant challenges for the Louisiana insurance market, with some insurers becoming insolvent and many of their policyholders turning to LIGA to help respond to their property claims.

“Seamless coordination with independent adjusting firms has become critical as we work to help hurricane victims throughout Louisiana rebuild their homes and return to normal,” said John Wells, executive director of LIGA. “Verisk’s solutions not only provide an efficient way to assign claims and receive estimates from adjusters, but they also provide a clear line of sight so that everyone from field adjusters to executive management are able to track progress in real time.”

Among its many solutions, Verisk offers computer software solutions for professionals involved in estimating all phases of building and repair. Thanks to a longstanding commitment to invest in research and development, Verisk property estimating solutions are used by most of the top property insurance companies and repair contractors in the United States and Canada.

“It’s a privilege to support LIGA’s important work of assisting Louisiana citizens when their insurer is rendered insolvent,” said Mike Fulton, president of Verisk Property Estimating Solutions. “We are proud to be working with them to help identify ways to continually quicken the claims journey, improve communication and coordination and improve the overall claims experience.”

Source: Verisk

Topics Claims Louisiana

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