The Louisiana Insurance Guaranty Association (LIGA), has implemented Verisk’s property estimating technology to streamline its claims handling process.
LIGO is a private association of insurance companies established by Louisiana law to provide certain benefits to the policyholders and claimants of insolvent insurers.
The move has seen LIGA adopt Verisk’s Xactware® property claims-handling solutions, including Xactimate® and XactAnalysis®, to assign claims to independent adjusting firms, improve communication with its claims vendors and monitor claims in progress.
The company explained that 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.
John Wells, executive director of LIGA, said, “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.
“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.”
Last month, American Farmers & Ranchers Mutual Insurance Company (AFR Insurance) adopted global data analytics provider Verisk’s property claims-handling solutions, as part of its efforts to improve claims handling workflows.
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