TLDR: Verisk, a leading data analytics provider for the global insurance industry, has launched XactAI, a new suite of artificial intelligence capabilities. Integrated into its Xactware property claims software, XactAI aims to enhance efficiency, consistency, and speed in claims handling by automating administrative tasks and augmenting human decision-making.
JERSEY CITY, N.J. – Verisk (Nasdaq: VRSK), a prominent data analytics and technology partner to the global insurance industry, announced today, September 30, 2025, the introduction of XactAI. This innovative suite of artificial intelligence tools is specifically designed to streamline and accelerate the property claims experience, promising enhanced efficiency and consistency for all stakeholders.
XactAI is now available as an integral part of Verisk’s established Xactware suite of products, widely utilized in property claims. The new capabilities leverage both artificial intelligence and generative AI to automate various processes, including the summarization of complex data and the organization of associated documentation. The suite also incorporates advanced workflow features to support key participants in the claims lifecycle, such as insurance professionals, adjusters, and contractors.
According to Verisk, XactAI is engineered to foster data-driven decisions and expedite routine tasks, ultimately leading to improved outcomes for policyholders. A cornerstone of the XactAI philosophy is the augmentation of human decision-making, not its replacement. All outputs generated by XactAI are subject to human oversight, allowing professionals to confirm, edit, or override AI-generated content, ensuring accuracy and accountability.
Key features of the XactAI suite at launch include:
Note Summarization: This tool quickly condenses lengthy claim notes into concise, clear overviews, tailored to the specific type of loss.
Automatic Photo Labeling: Utilizing generative AI, this feature automatically labels and describes photos, significantly reducing the manual effort required from adjusters.
Transcription Summary: The system converts audio and video recordings into structured summaries, facilitating faster and more accurate documentation of claims.
AI-Driven Additional Living Expenses (ALE) Receipt Categorization: Policyholders can more easily organize reimbursable expenses incurred due to displacement. The AI extracts and categorizes crucial information from receipt images for efficient review.
David Obert, chief product officer of Property Estimating Solutions at Verisk, emphasized the strategic importance of these new tools. “By harnessing the best and most tested capabilities of generative AI to automate repetitive administrative tasks, we’re helping claims professionals make time for the most rewarding part of the job: bringing the parties to a claim together to help make policyholders whole, with greater speed and accuracy,” Obert stated.
The XactAI platform is built on a secure, cloud-native infrastructure, incorporating enterprise-grade security protocols and industry-specific safeguards. Verisk assures that all data, including images, documents, and receipts, is encrypted and processed within environments managed according to the company’s rigorous standards for privacy, compliance, security, and human oversight, aligning with Verisk’s Ethical AI principles and commitment. The product also benefits from Verisk’s extensive regulatory expertise, designed with compliance in mind to support audit trails, documentation standards, and insurer obligations.
Also Read:
- Visa Unveils New AI-Powered Commercial Solutions Hub to Bolster Offerings
- Roots, an AI Agent Platform, Earns Spot on Prestigious InsurTech 100 List for 2025
Verisk, a company with a market capitalization of $34.76 billion and impressive gross profit margins of 69.39%, continues to strengthen its position as a leader in data analytics for the global insurance industry. With a revenue growth of 7.6% over the last twelve months and historically low price volatility (Beta: 0.86), the launch of XactAI underscores Verisk’s commitment to innovation and operational efficiency.
