Loss Technology Services, Inc., engineer of Water Event Manager (WEM) and in partnership with Simsol Software, announces the release of WEM Predict: Flood. WEM Predict: Flood is the first-of-its-kind software tool providing adjusters, TPAs, and insurance carriers with accurate, predictive mitigation analysis for Water and National Flood Insurance Program Flood claims. Adjusters using WEM Predict: Flood simply answer a few basic questions regarding the water loss. The program then provides a detailed water mitigation and dry-out predictive analysis the adjuster can use when generating an estimate. The analysis includes details such as the sizes and types of recommended drying equipment as well as the labor to complete the dry-out repair portion of the loss.
“The WEM predictive tool is something that is desperately needed by the property claims industry. Ever since water mitigation business evolved from a sort of gypsy-based contractor to a true, measurable science, most adjusters don’t have the expertise to write detailed mitigation estimates – the WEM tool does.” says John Postava of Simsol Software.
The predictive analysis generated by the WEM Predict: Flood tool are based on proprietary algorithms developed using IICRC guidelines and industry standards to provide a drying model that also incorporates substrate drying requirements and loss site specifics. Using this data, WEM Predict: Flood delivers a predictive drying analysis that includes the anticipated amount of equipment (dehumidification and air movement) and expected duration for the project. The qualitative data is then incorporated with specific Simsol/Craftsman pricing to deliver a detailed report that includes required equipment specifics, labor categories, and drying tasks for the loss.
WEM has provided the P&C industry with third party review of water mitigation claims for several years; however, there has not been an effective tool in the marketplace for use by the adjuster to accurately estimate the level of equipment, project duration, and other drying cost items. WEM Predict: Flood, in cooperation with Simsol and Craftsman, now provides the adjuster with a predictive measure of expected drying protocol and pricing.
“We are excited that with WEM Flood we can now place our knowledge of the water mitigation industry's standards and guidelines in the hands of the adjuster at the beginning of the claim process,” says Ted Nelson of Loss Technology Services, Inc.
About Simsol Software:
Simultaneous Solutions, Inc. (Simsol Software) has been providing insurance carriers, adjusters and restoration contractors with leading edge property and contents estimating and loss documentation software since 1987. Their flagship product, Simsol 4.0™, is a Windows-based PC and mobile computing application featuring software apps for estimating and documenting property claims. Simsol’s data analytics solution provides insurance carrier management with real-time industry comparisons and claim payment trending reports. To learn more, please visit http://www.simsol.com.
About Water Event Manager (WEM):
WEM technologies provide an array of real-time, on-line intelligent tools that provide protocol and pricing guidance and feedback for structural drying. Incorporating industry guidelines and best practices with customary pricing, WEM tools are easy to incorporate into the claims adjusting process – from predictive analysis to file review. WEM delivers increased speed, precision, and transparency of water loss claims processing by applying appropriate process and pricing.
Water Event Manager (WEM) is owned and developed by Loss Technology Services, Inc., and is offered via the eProperty Solutions vendor management platform, powered by LYNX Services and i3 Group. To learn more, please visit http://www.losstechnologyservices.com. To submit a claim, log in to http://www.epropertysolutions.net, email audit(at)epropertysolutions(dot)net, or call 888.823.4661.
