Xactware

What Xactware does

Xactware Solutions, Inc. is a Lehi, Utah-based software company that provides property estimation and claims management solutions to the property/casualty insurance and property restoration industries. The company operates as a wholly-owned subsidiary of Verisk Analytics, Inc. (NASDAQ: VRSK) and is marketed under the brands Xactware, Verisk Xactware, Xactimate (property estimation), and XactRestore (property restoration). Its core offering is the Xactware Property Estimation platform, which enables claims professionals to price property damage and restoration costs against a proprietary, deeply curated cost database that has accumulated over decades of U.S. claims activity. Xactware's customer base is organized vertically around insurance carriers (for underwriting and claims workflows) and property restoration professionals (for estimation and damage assessment).

The company's technology stack centers on standardized Model Context Protocol (MCP) connectors that expose Xactware data to generative AI environments. In May 2026, Verisk launched two Claude AI connectors — Verisk Underwriting Intelligence and Verisk XactRestore — under a strategic collaboration with Anthropic, allowing insurance and restoration professionals to query underwriting, claims, estimating, and restoration data through conversational AI within a governed environment. Reported productivity outcomes include hundreds of hours saved annually per carrier in underwriting workflows and 30 minutes to two hours saved per estimate for restoration professionals. The company employs 251–500 people and operates in the U.S. and Canada.

Xactware's business model is consistent with a vertical enterprise software and data-licensing play. Pricing is not publicly disclosed, but the product is sold as enterprise software to insurance carriers and restoration firms, with the Xactimate platform functioning as a de facto industry standard for property claims pricing. As a Verisk subsidiary, Xactware benefits from cross-sell into Verisk's broader insurance analytics portfolio and uses Verisk's enterprise distribution channel into major U.S. property/casualty insurers. The company's growth is product-led, with current strategic emphasis on embedding its data assets into generative AI workflows rather than on independent geographic expansion or M&A.

Name

Xactware

Legal name

Xactware Solutions, Inc.

Website

https://xactware.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

Xactware provides property estimation and claims management software to insurance carriers and property restoration professionals, anchored by its Xactimate pricing platform, and operates as a wholly-owned subsidiary of Verisk Analytics.

Ownership category

akta.pro rank

Headquarters

HQ city

Lehi

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Core offering

Xactware provides property estimation and claims management software for insurance and property restoration professionals. Its solutions enable accurate estimating of property damage and restoration costs across all phases of building and repair, and are increasingly integrated into generative AI workflows through Model Context Protocol connectors for Anthropic's Claude.

Product overview

Xactware is a property estimation and claims management solution under Verisk that provides insurance analytics and restoration estimation tools. The portfolio includes Xactware Property Estimation as the core platform for property estimation and claims management, along with Verisk XactRestore and Verisk Underwriting Intelligence — two Claude AI connectors that embed insurance-specific analytics into generative AI workflows through Model Context Protocol. These products enable insurance and property restoration professionals to access underwriting, claims, estimating and restoration data through conversational AI.

Differentiator

Problem solved

Functional benefit

Brands

• Xactimate: Property estimation software for insurance claims
• XactRestore

Products and services

• Xactware Property Estimation Property estimation and claims management solution that enables claims professionals to estimate property damage and restoration costs accurately for insurance claims.
• Verisk XactRestore Claude AI connector providing property restoration professionals access to estimating data through conversational AI, saving between 30 minutes and two hours per estimate.
• Verisk Underwriting Intelligence Claude AI connector providing underwriters access to insurance analytics through conversational AI within a governed environment, saving hundreds of hours annually per carrier.

Quantifiable outcome

• Saves hundreds of hours annually per carrier in underwriting workflows
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature3 records

Partnerships

One partnership is on record.

• AnthropicflagshipStrategic or Co-development Partner · 8 May 2026Verisk and Anthropic have established a strategic collaboration to embed insurance-specific analytics into generative AI workflows. The partnership involves launching two initial Claude connectors — Verisk Underwriting Intelligence and Verisk XactRestore — marking a significant integration of insurance analytics into Anthropic's Claude AI platform through standardized Model Context Protocol connectors. This enables insurance and property restoration professionals to access underwriting, claims, estimating and restoration data through conversational AI within a governed environment.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• HouseCanary: HouseCanary provides AI-powered residential property valuation and analytics, serving mortgage, insurance, and real estate customers. It is an emerging peer whose property data and analytics overlap with parts of Xactware's valuation and underwriting intelligence offerings.
• ServiceTitan: ServiceTitan provides software for residential and commercial contractors including restoration specialists. It is comparable as a software platform serving the same property restoration professionals that Xactware's XactRestore targets, with overlapping estimating and job-cost features.
• Snapsheet: Snapsheet offers a cloud-based claims management and appraisal platform for auto and property insurers, with AI-enabled estimation workflows. It is an emerging peer applying digital and AI-native approaches to the same estimating processes that Xactware's Xactimate addresses.

Direct peers

• Mitchell International: Mitchell International provides claims management, estimating, and workflow solutions to property and casualty insurers and repairers. Mitchell's PropertyCasualty estimating platform competes head-to-head with Xactimate in the North American auto and property claims market.
• CCC Intelligent Solutions: CCC Intelligent Solutions provides software for the property and casualty insurance economy, including claims management, estimating, and total loss workflows. It is one of Xactware's closest direct competitors, serving many of the same insurance carrier and repairer customers with overlapping property estimation offerings.

Broad incumbents

• Procore Technologies: Procore is a leading construction management platform that also serves restoration contractors with project cost and documentation workflows. It is an adjacent incumbent whose restoration and contractor-facing features overlap with parts of Xactware's restoration offering.
• Guidewire Software: Guidewire is a leading platform provider of core insurance software — underwriting, claims, and policy administration — to P&C insurers. It is an adjacent incumbent whose claims and underwriting systems integrate with property estimation solutions like Xactware's.
• Salesforce Insurance Cloud: Salesforce's Industry Clouds include an Insurance Cloud that competes in agent, underwriting, and claims workflows. As a broad horizontal platform expanding into vertical insurance software, it represents a meaningful adjacent incumbent to Xactware's insurance customer base.
• CoreLogic (Cotality): CoreLogic, recently rebranded as Cotality, is a major property data and analytics platform serving mortgage, real estate, and insurance. It overlaps with Xactware in providing property-level data and analytics that feed insurance underwriting and valuation workflows.
• Duck Creek Technologies: Duck Creek Technologies provides a SaaS core system for P&C insurers covering underwriting, policy, billing, and claims. It is comparable as a broader insurance platform player whose claims module could integrate with or compete against Xactware's estimating analytics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights6 records

Customer concentration

• Xx.com/xactware

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Xactware