AXA XL‘s insurance business has entered into a multiyear partnership and licensing agreement with Xtract to digitize, expedite and transform the commercial auto claims management process in the US.
Xtract captures a digital First Notice of Loss (FNOL) record of the claim by providing an intuitive mobile user interface. Xtract then aggregates real-time crash data with other relevant data, including vehicle details, repair parts data and, if relevant, third party information to provide a predictive damage triage; enabling fleets and claims handlers to make speedy and accurate decisions. By connecting real-world incident data with mapping software and real-time weather reporting, Xtract delivers visual context to the incident – enabling a swift liability decision.
The first AXA XL division to roll out Xtract to its clients is their Environmental Insurance business which provides environmental service firms, including waste companies, hazardous materials haulers and environmental contractors, with tailored property and casualty insurance coverage.
