Liberty Mutual Insurance terminates XM8 licensing and welcomes Symbility. What does this mean for estimates and supplementing?
Big news coming from Liberty Mutual Insurance.
The company has worked closely with CoreLogic to create and deploy a new platform called Symbility. The new platform was designed to deliver higher-tier workflow management solutions. Mike Fiato from Liberty Mutual Insurance states, “Corelogic seamlessly combines property data with workflow solutions that can offer higher quality customer experiences.” This also allows Liberty Mutual to boost operational resiliency while also enhancing the overall productivity. Liberty Mutual will focus on migrating to Symbility and cease using XM8 by the beginning of 2022.
Frank Martell, the CoreLogic CEO, states that they are thrilled with the Liberty Mutual collaboration, and they are working very hard to combine all the parts within the insurance supply chain and provide a comprehensive, unified platform. The insights and risk monitoring, combined with the overall portfolio, offer insurance companies a much better set of solutions to suit their needs. The CoreLogic – Liberty Mutual partnership is set to continue for many years, and it’s one of the higher-profile collaborations that CoreLogic has right now. This shows how fast the company is growing while also paving the way for NEW proprietary industry standards.
What does this mean for Contractors?
In a move that only helps Liberty Mutual, Symbility muddies the waters of an already clouded industry. Now contractors are forced to learn Symbility or try to fight the new proprietary line items. Nate, CEO of Claim Juicer, says, “A few of our customers have come to us explaining issues with the new software and how difficult the supplementing process has been. We had a contractor tell us, “it feels like there are integrated-rebuttal line items when trying to negotiate, the greenest of desk adjusters are trying to rebuttal off of their new customized script, and it’s almost impossible to communicate, that’s not even bringing up the slashed pricing”.
So what are contractors supposed to do?
The best option (and we may be biased) is to find a supplementing company based on common talk, forces the issues in layman’s terms, and over-explains each line item with proven-documentation. In a crazy turn of events, XM8 has been dethroned, and from our sources, the company will phase out the social acceptance of XM8 much like State Farm has phased out ITEL. Claim Juicer integrates these strategies and creates a supplement based on accurate, provable line items that turn the tides on big-business-insurance companies. Claim Juicer also boasts the industry’s most extensive, data-based supplement complemented by a 3-day turnaround, all for an always, flat-rate $350.
Check out claimjuicer.com for more information.
~ Industry Forecast Team